Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 8.0%
- Listing ID: 1359766
- Posted On: Nov 23, 2020
- Updated On: Apr 1, 2021
Description
Castle Rock Mobile Home Park is 73 space family Community built in 1980 located in Forks, WA. Property covers 14.45 acres and offers very spacious home sites that average 5,000 sq. ft, able to accommodate triplewide homes while offering a serene park like setting to tenants.
The rents are $240 for the singlewide homes and $280 for the doublewide homes. Property is serviced by City water that is sub-metered and a 23,000-gallon septic LOSS on site Septic.
Location
Access to the property is off the scenic coastal highway US-101, approximately 3.5-hour drive from Seattle (25 miles from Port Angeles and 5-hour drive from Portland). Forks lies in the Olympia Peninsula within Clallam County that has population of 71,404 per 2010 census with largest city being Port Angeles.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 73 |
| Total Occupancy: | 80.0 % |
| Year Built: | 1980 |
| Average MH Lot Rent: | $280 |
| Size: | 15 acre(s) |
Financial Information (Actual)
| Gross Income: | $195,576 |
| Operating Expense: | $55,519 |
| Net Operating Income: | $140,057 |
| Expense Ratio: | 28.4 % |
RV Information
| Number of RV Lots: | 7 |
| Average RV Lot Rent: | $240 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Submetered |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 5 |
| Average Rent for Park-owned Homes: | $695 |
