Contact Information

Sheila Ramirez

Merri Acres LLC

Mobile Home Park Details

  • Price: $1,750,000
  • Purchase Method: Cash, New Loan
  • Cap Rate: 8.0%
  • Property ID: 1359766
  • Posted On: Nov 23, 2020
  • Updated On: Jan 18, 2021

Property 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.

Interested in purchasing this mobile home park? Get pre-qualified for a loan.

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 %
Debt Info

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