Lilly Place LLC - for Sale in Olympia, Washington
3227 78th Ave Se
Olympia, WA 98501
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Mobile Home Park for Sale |
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| Number of MH Lots: | 9 |
| Size: | 2.2 acre(s) |
| Cap Rate: | 15.0% |
| Purchase Method: | Cash, Seller Financing, New Loan |
| Status: | Sale Pending |
| Property ID: | 108264 |
| Posted on: | Nov 18, 2011 |
| Updated on: | May 23, 2012 |
Property Description
This is a family park with 9 park owned homes and 4 rv's not owned by park. All homes have been upgraded, and 3 new septic systems installed. Its located on 2.21 acres. Park is always full with a waiting list. Rents are $795 per month for mobiles and $400 per month for RV's. Thats $8435 per month. Well was recently updated by county and a new pump and tank as were installed last year. Nice investment with excellent income and low expenses. I manage the park, but have an assistant who could take over. Wiling to carry some and have a bank willing to finance the balance.
Location Description
Located in county (not city) saves taxes. Also easy commute to all of Olympia area including military families.
Park Information
| Number of MH Lots: | 9 |
| Total Occupancy: | 100.0% |
| Year Built: | 1976 |
| Average MH Lot Rent: | $795 |
| Size: | 2.2 acre(s) |
Financial Information (Actual)
| Gross Income | $102,600 |
| Operating Expense | $14,520 |
| Expense Ratio | 14.2% |
| Debt Info | 305000 |
Lot Information
| Singlewide Lots: | 4 |
| Doublewide Lots: | 5 |
RV Information
| Number of RV Lots: | 5 |
| Average RV Lot Rent: | $320 |
Utility Information
| Water: | Well |
| Water Paid By: | Park |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 9 |
| Average Rent for Park-owned Homes: | $795 |
Amenities and Other
| Laundromat: | Yes |