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51366 Preble Way - Fully Entitled Land - 11-Unit MHP Development 0.89 Acres of Commercial Land Offered at $303,206 CAD in La Pine, OR 97739

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INVESTMENT HIGHLIGHTS

  • Approved plans for 11 modular homes
  • Close to nearby commercial and retail
  • Full quotes obtained for modular home costs and shipping
  • Clear Phase 1
  • Permit ready with payment of SDCs & infrastructure review
  • $2,050,000 completion valuation

EXECUTIVE SUMMARY

For sale is 0.89 acres of commercial/residential mixed-use land located at 51366 Preble Way in La Pine, Oregon. Approvals have been received for an 11 space modular home park. Approvals were granted March 22, 2024, and are valid for 2 years. Quotes are available for manufactured dwelling units (by Fleetwood) along with shipping rates to site. Units include eight 2-BR / 1-BA manufactured homes that are 640 square feet and three 3-BR / 2-BA manufactured homes that are 880 square feet. The homes will be permanently affixed to the real estate and leased to tenants with the underlying homesite.
Based on proforma income & expenses endorsed by recent appraisal, completed valuation of a stabilized project is near $2,050,000 based on a market cap rate of 7% supported by recent and local sales comparables.

PROPERTY FACTS

Price $303,206 CAD
Sale Type Investment
No. Lots 1
Property Type Land
Property Subtype Commercial
Proposed Use Manufactured Homes or Mobile Home Park
Total Lot Size 0.89 AC
Zoning CRMX - Commercial/Residential Mixed-Use (CRMX)

1 LOT AVAILABLE

Lot

Price $303,206 CAD
Price Per AC $340,680.34 CAD
Lot Size 0.89 AC

DESCRIPTION

The subject property is located within the city limits of La Pine in Deschutes County in the foothills of the Cascade Mountains in central Oregon. La Pine was originally settled in the 1800s by French fur traders; however, the city was not incorporated until 2006, making it the youngest city in Oregon. Today, La Pine is a small tourism town with recreational opportunities including fishing, hiking, rafting, mountain biking, and more as it is surrounded by meadows, lakes, and rivers. Primary access to the subject neighborhood is provided by U.S. Route 97 (US 97) which is a major north/south highway that travels through La Pine. US 97 runs from the California border, south of Klamath Falls, to the Washington border on the Columbia River, between Biggs Junction, Oregon and Maryhill, Washington. US 97 is known as The Dalles-California Highway. The Commercial/Residential Mixed-Use (CRMX) Zone is intended primarily as a smaller scale, service and office commercial district with associated residential that may consist of upper-level units. A live-work design concept within the mixed-use district serves as a buffer between the C zone and residential zones. Commercial uses are allowed in the zone but are limited in order to facilitate a mixed-use development pattern. The proposed improvements represent a legally conforming and permitted use.

  • Listing ID: 38012877

  • Date on Market: 2025-10-09

  • Last Updated:

  • Address: 51366 Preble Way, La Pine, OR 97739

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