Drafter Valley MHC (POHs)

• 7.33% Current cap
• Brand new construction
• All homes park-owned
• All units 2bd/1ba at 750SF
• Tenants pay all utilities
• Great curb appeal

Property Description

PROPERTY DESCRIPTION The Drafter Valley Modular Home Community is comprised of fifteen (15) total units completed in 2024. All units are 2bd/1ba units manufactured by Fleetwood Homes based in Wilsonville, Oregon. All units are property-owned and fully set on individual foundations. The site is master metered for water and tenants are billed by third-party billing for water usage. Tenants also cover garbage, gas and electricity. Each unit includes one exterior tandem space for two-car parking. Unit layouts provide an open kitchen plan with breakfast bar, large living room space, large utility room with full-size washer/dryer hookups and ample closet/storage space. The quality of construction is evident in the high-end finishes which include stainless steel appliances, LVP woodgrain flooring, quartz countertops and custom wood cabinetry. This opportunity represents a truly turn-key, low-maintenance property with great curb-appeal that is well-positioned to take advantage of one of the fastest growing rental markets in Central Oregon. La Pine has recently been attracting more developers and tenants alike due to its close proximity to Bend, local amenities, a more streamlined development process, and overall, more affordable rent levels. OPERATIONS Drafter Valley is 93% occupied with continued interest and traffic for remaining units.  Lease-up activity is being handled by Cobalt Management, one of Central Oregon’s premiere professional multifamily property management firms. Rents in this memorandum are annualized and based on average captured rents to date, asking rents are based on comparable projects in the subject properties market area. Expenses are estimated and derived from comparable new builds, county estimates and have also been endorsed by Bratton Appraisal Group. Current capitalization rate is 7.33%. CONSTRUCTION AND AMENITIES The Drafter Valley Modular Home Community are one-story manufactured units with concrete block and slab foundation. Construction is wood-frame on steel joist, roofing is gable with composition shingle. All horizontal lap siding elements, including full skirt, are cement fiber product. Windows and sliders are all double-paned vinyl. Units are individually metered for electricity and gas and the site is master-metered for water. All units have LVP flooring, stainless appliances, custom cabinetry, and quartz countertops in kitchens and baths. Appliances are electric, range is propane and heating is provided by forced-air propane furnace.