- Type: Mobile Home Park
- Size: 18 Units
- Location: Cascade Locks, OR
- Year Built: NA
- Broker: Cliff Hockley & Brian Duncan
- Sale Price: $500,000
Cascade Cove Mobile Home Park is an 18 unit mobile home park. The client had initially purchased the property in anticipation that a casino would be built. That did not transpire and the client now sought to liquidate the investment
The property contained four abandoned, unusable mobile homes. There were also limited records kept for the property. Finding a bank to finance the deal was extremely difficult due to the small size of the deal, especially given the condition issues.
Brian and Cliff found a buyer motivated to buy a value add fixer upper. We were initially going to represent both sides but the seller felt it was a conflict of interest. Luckily the buyer was a contractor who partnered with a property manager and another silent partner. The property manager had the license to broker the deal from their end. They also had some depth and could have closed in cash if the financing was not secured. In the end we were able to save our client from an investment that had become a burden for almost 10 years. The property sold for full asking price.