Springtide Mobile Home Park is a 41-unit all-age community located in the supply-constrained coastal market of Coos Bay, Oregon.
The property features a desirable unit mix of 38 tenant-owned homes, one park-owned home, one park-owned RV unit, and a (SFR) single-family residence, all situated on approximately 2.95 acres with city water and sewer
The community maintains strong occupancy and offers immediate value-add upside, with current rents estimated to be approximately 25% below market and the last rent increase completed 6 years ago in 2020 with the opportunity to charge back for water, sewer, and trash through implementation of a RUBS program.
Additional revenue growth opportunities include the monetization of the currently unmonetized large on-site laundry facility, and expanding on-site tenant storage
Recent capital improvements include $20,000–$30,000 in major electrical infrastructure upgrades, with recent major repair improvements done at the single-family residence including a new roof. Positioned in Coos Bay market coastal market with consistent demand for affordable housing.