6029 Salmon River HwyOtis, OR 97368

Property Details for 6029 Salmon River Hwy

Year built

1938

Lot size

7.19 AC

Property size (Sq ft)

4,048 SF

Zone code

R-1,RC;RESIDENTIAL

Property type

Residential income properties

Property subtype

Mobile home & RV parks

APN

06-10-26-DC-00200-00

APU

061026DC0020000

Description

Exceptional investment opportunity awaits with this 41-unit RV park nestled on over 7 acres along the scenic Salmon River in Otis, Oregon. This established business boasts consistently high occupancy rates, averaging less than 1% vacancy over the past five years, ensuring a reliable income stream. The park features convenient on-site laundry facilities and restrooms for guest comfort. Located a short 15-minute drive north of Lincoln City, this prime location offers easy access to popular attractions and amenities. The property's strong financial performance is highlighted by a current capitalization rate of 7.34%, projected to increase to 7.95% in 2025. This translates to a significant return on investment for the discerning buyer. The asking price for this thriving RV park is $2,500,000. With its proven track record, desirable location, and projected growth, this represents a rare opportunity to acquire a well-established and profitable business in a sought-after Oregon coastal area. The property's 41 units provide ample capacity for a diverse clientele, ensuring continued success. This turnkey operation requires minimal operational overhead, making it an ideal investment for both seasoned and new investors seeking a stable and rewarding venture. The property's location near Lincoln City provides access to a large tourist base, further enhancing its potential for growth and profitability. This is a truly exceptional opportunity to own a piece of Oregon's beautiful coastline and enjoy the benefits of a high-performing investment.

• CAP approach

  CAP return

  Valuation

  6%

  $922,150

  6.5%

  $851,215

  7%

  $790,414

• Comparable approach

  Method

  Valuation

  Relative Method

  $988,243

  Geo Method

  $1,607,690

• Alternative Use

  Use

  Valuation

  Residential

  $851,215

  Hospitality

  $779,708

  Educational

  $648,708

  Medical

  $671,018

  Retail

  $1,009,102

Location Insight

City

Otis

County

Lincoln

State

Oregon

Latitude

45.0186

Longitude

-123.871

CBSA code

35440

CBSA name

NEWPORT, OR MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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