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October 17, 2011 (Regular Meeting) <br />Page 756 <br />OAR LARGE <br />Over 4 Tenants 7.50% 9.50 8.00% 10.50% 9.00 5 s 11.00% <br />EXPENSES 25.00% 40.00% 25.00% 45.00° 30.0 0 6 50.00% H <br />INDUSTRIAL <br />OAR <br />7.50% <br />9.00° <br />8.00% <br />10.00 <br />10.00% <br />12.00% <br />EXPENSES <br />13.00% <br />15.00° <br />14.00% <br />18.00° <br />17.00° <br />23.00" <br />Warehouse <br />OAR <br />7.00% <br />9.00% <br />8.00% <br />10.00° <br />10.00 <br />12.00% <br />EXPENSES <br />5.00° <br />15.00% <br />5.00% <br />20.00% <br />10.00% <br />30% <br />Self- Storage <br />Warehouse <br />OAR <br />7.00% <br />9.50% <br />7.00% <br />9.50% <br />8.00% <br />13.00% <br />EXPENSES <br />10% <br />25% <br />15% <br />30% <br />15 9 6 <br />406 <br />Chapter 9 <br />VALUATION OF SPECIAL PROPERTIES <br />MOBILE HOME PARKS <br />Mobile home parks lend themselves well to classification by inside access <br />roads, density, facilities and general appearance as follows: <br />CLASS 1 Narrow, unpaved roads <br />High density (Older Park) <br />No recreation hall or other facilities <br />Generally unattractive appearance <br />CLASS 2 Narrow, unpaved roads or broken pavement <br />High density (Older Park) <br />Deteriorated recreation hall and /or laundry <br />No curbing, no street lights <br />Many mobile homes without skirts <br />Little effort to maintain attractive appearance <br />CLASS 3 Average location and design <br />Streets paved and in at least fair condition <br />Medium density (10 -15 sites per acre) <br />Adequate laundry and recreation hall <br />Lawns trimmed, good general appearance <br />CLASS 4 Good location and design <br />Streets wide enough for cars to pass <br />Curbing and sidewalks <br />Streets with street lights and street signs <br />Good recreation hall, shuffle board, swimming pool <br />Attractive entrance and good general appearance <br />(Lawns cut and edged, bushes trimmed) <br />Density around 8 sites per acre <br />CLASS 5 Excellent location and design <br />Attractive entrance <br />Wide paved and curbed streets <br />Street lights and street signs <br />Excellent recreation hall facilities <br />Swimming pool, shuffle board, and other leisure time equipment <br />Management sponsored activities <br />Manicured lawns and trees <br />Maximum density of 8 sites per acre <br />Average rental rate, vacancy rates and operating expenses also correlate <br />highly within these classifications. Therefore, income data need only be <br />gathered from a few mobile home parks to arrive at a reliable income value <br />per space as follows: <br />INCOME VALUATION OF A MOBILE HOME PARK <br />Gross Monthly rent Gross Annual Rent <br />