The site is improved with a 14 unit multi family development constructed in 2021 and is made up of 14 - three bedroom, two bathroom permanently affixed manufactured homes. This income producing development is located in Central Oregon in the up and coming town of La Pine. It's close to Sunriver, Bend and all the outdoor adventures that draw people to Central Oregon. Rental rates are due to increase early next year only adding to the attractive 6.2 cap rate based on current year to date numbers.
This duplex is an excellent investment opportunity. Built in 2005, each unit features three bedrooms, two bathrooms, a spacious living room, kitchen and a dedicated laundry room. The primary bedroom and bathroom are located downstairs, while the upper level offers two additional bedrooms and a full bathroom. Additionally, the property includes an attached single-car garage and a fenced backyard, making it an attractive option for potential tenants or homeowners seeking rental income.
A rare public-offered Central Oregon mobile home park in the area's fastest-growing city. This 15-unit, 14 pad, mobile home park includes a stick-built home with a small studio. The park includes one mobile homes (#6) that has been remodeled and painted for increased marketability for sale or rental. Rents were raised by 9.9% November 1st 2023. Ground leases and Park-owned units include water, sewer, snow plowing(if needed), common area landscaping, and garbage. The park is on city services for ownership's convenience, and the commercial/residential mix-use zoning allows for a bevy of uses for alternative development of this fantastic location in the heart of La Pine's commercial center. Future development in the neighborhood includes Starbucks and Walgreens. This park is a short distance of almost all essential services and amenities in La Pine, making it a very convenient location for tenants.
The median home value in La Pine, OR is $395,000. This is lower than the county median home value of $598,100. The national median home value is $338,100. The average price of homes sold in La Pine, OR is $395,000. Approximately 53.22% of La Pine homes are owned, compared to 40.02% rented, while 6.76% are vacant. La Pine real estate listings include condos, townhomes, and single family homes for sale. Commercial properties are also available. If you see a property you’re interested in, contact a La Pine real estate agent to arrange a tour today!
La Pine, Oregon has a population of 2,390. La Pine is less family-centric than the surrounding county with 14.94% of the households containing married families with children. The county average for households married with children is 29.18%.
The median household income in La Pine, Oregon is $44,180. The median household income for the surrounding county is $74,082 compared to the national median of $69,021. The median age of people living in La Pine is 49.2 years.
The average high temperature in July is 82.3 degrees, with an average low temperature in January of 18.5 degrees. The average rainfall is approximately 22.5 inches per year, with 94.6 inches of snow per year.