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Mobile Home Park Details

Purchase Method: Cash, Seller Financing
Cap Rate: 10.0% (Pro Forma)
Listing ID: 1265207
Posted On: Jun 3, 2020
Updated On: Feb 18, 2021

Description

Awesome 27 Space Mobile Home Park in Growing Oak Harbor Washington *9.5 Acres on Private Water and Septic System *Approximately 1 Mile to US Naval Air Base Whidbey Established in 1942 * Oak Harbor Averages Just 21 Inches of Yearly Rainfall *$227,100 Yearly Gross Proforma With Vacancies Filled and Small Rent Increase * Net Proforma and Actual Based on 28% Expenses Are $112,752 and $163,512 *7.04 and 10.02 Caps * Don't Miss Out on This Great Opportunity to Own an Awesome Mobile Home Park Investment in Sunny Oak Harbor Washington

Location

Northwest of Downtown Oak Harbor just west and south of the Naval Air Base

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Park Information

Community Type:	All Age
Number of MH Lots:	27
Total Occupancy:	78.0 %
Year Built:	1974
Average MH Lot Rent:	$700
Size:	10 acre(s)

Financial Information (Pro Forma)

Gross Income:	$227,100
Operating Expense:	$63,588
Net Operating Income:	$163,512
Expense Ratio:	28.0 %
Debt Info:	0

Lot Information

Singlewide Lots:	25
Doublewide Lots:	2
Triplewide Lots:	0
Park Model Lots:	26

RV Information

Number of RV Lots:	0
Average RV Lot Rent:	$0

Utility Information

Water:	Well
Water Paid By:	Park
Sewer:	Septic

Park-Owned Homes

Number of Park-owned Homes:	25
Average Rent for Park-owned Homes:	$700

Suburban Mobile Home Park 2997 North Heller Road, Oak Harbor, WA 98277

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