Map of Property

Hope Street Mobile Home Park

1604 Hope Street, Klamath Falls, OR 97603

  • For Sale $1,200,000
  • Property Type Multi-Family
  • Units 13
  • Lot Size 1.35 Acre
  • Additional Rent Contact for pricing
  • Date Updated Dec 3, 2024
Advantageously located just 20 miles north of the California border with 300 days of sun each year! Klamath Falls is the biggest city in the County, with over 20,000 people. Homes are flying off the shelf in Klamath Falls due to a very high demand for housing.Hope St. MHP is a perfect value-add opportunity on the West Coast. Advantage of being close to California without having to deal with California laws/taxes. Interior of all POH's have been remodeled recently. Park has several newer homes with 1200+ SF. Rent roll available upon request.
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Highlights

  • -13 lots with 12 homes (1 vacant lot)
  • -10 homes are park owned, 2 are tenant owned.
  • -1 vacant pad already has utilities in place
  • -Plenty of "meat on the bone" from a value-add perspective
  • -Actual gross income in 2020 was $113,696. NOI for 2020 was $74,427.
  • -City utilities
  • -Gross income of $141,216 on track for 2021
  • -Several lots under market rents. Utility cost accounts for $12,000 in expenses. Billing back tenants could significantly increase NOI.
  • -2021 pro-forma NOI is $91,790 at 35% expenses with current vacancy
  • -Seller financing available with significant cash down payment, and qualified, credit-worthy buyer.

Contacts

broker
Mike Grivas

Delta Group

Location

Getting Around

  • Walk Score ®

    40/100 Car-Dependent

  • Transit Score ®

    22/100 Minimal Transit

  • Bike Score ®

    37/100 Somewhat Bikeable
Powered by Walk Score ®
  • City Klamath Falls, OR
  • Neighborhood Altamont
  • Zip Code 97603

Points of Interest

  • Klamath Falls

    2.16 miles

  • Towne Pump

    0.59 miles

  • Chevron

    0.95 miles

  • Fuel Commander Cardlock

    0.99 miles

  • Tesla Supercharger

    1.24 miles

  • Fred Meyer Gas Station

    1.26 miles

  • Shell

    1.32 miles

  • Fireball

    1.67 miles

  • 76

    1.80 miles

  • Gulf express

    3.46 miles

  • Wiard Junction Trailhead

    0.96 miles

  • OC&E Trail - Crosby Trailhead

    1.14 miles

  • OC&E Trail - Route 39 Trailhead

    2.41 miles

  • Parking Lot A

    3.78 miles

  • Parking Lot B

    3.84 miles

  • Parking Lot D

    3.87 miles

  • Campus Saftey Parking

    3.88 miles

  • Parking Lot L

    3.93 miles

  • Parking Lot M

    3.97 miles

  • Parking Lot N

    4.01 miles

  • Quality Inn

    0.63 miles

  • Motel 6 Klamath Falls

    0.69 miles

  • Townhouse Motel

    0.71 miles

  • Majestic Inn & Suites

    0.81 miles

  • Days Inn Klamath Falls

    0.87 miles

  • Cimarron Inn Klamath Falls

    1.08 miles

  • Best Western Plus Olympic Inn

    1.26 miles

  • Golden West Motel

    1.37 miles

  • Holiday Inn Express & Suites Klamath Falls Central

    1.40 miles

  • Holiday Inn Express & Suites

    1.40 miles

  • Willy's Pizzeria

    0.55 miles

  • DQ Grill & Chill

    0.59 miles

  • Sergio's Restaurant

    0.59 miles

  • El Grullense

    0.60 miles

  • Casey's

    0.60 miles

  • KFC

    0.61 miles

  • Black Bear Diner

    0.68 miles

  • Abby's

    1.00 miles

  • Tacos la Fogata

    1.02 miles

  • Papa Murphy's

    1.06 miles

  • Triad School

    0.78 miles

  • Shasta Elementary School

    0.86 miles

  • Mazama High School

    1.02 miles

  • Klamath Falls City School District Office

    1.09 miles

  • Ferguson Elementary School

    1.20 miles

  • Stearns Elementary School

    1.62 miles

  • Ponderosa Middle School

    1.71 miles

  • Peterson Elementary School

    1.72 miles

  • Mills Elementary School

    1.85 miles

  • Klamath Community College

    2.13 miles

Frequently Asked Questions

How much does Hope Street Mobile Home Park cost?

The space currently listed for sale at Hope Street Mobile Home Park asks for $1,200,000.

Looking for more in-depth information on this property?

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Contact Listing Broker
broker
Mike Grivas

Delta Group