Mobile Home Park Details

Cap Rate: 8.5%
Listing ID: 1462637
Posted On: Jun 21, 2021
Updated On: Sep 21, 2021

Description

Marcus & Millichap is pleased to present as the exclusive advisors for a 37-space, market-rate mobile home park, located at 262 Mossyrock Road West, Mossyrock, WA 98564, commonly operating as Mountain Road Mobile Home Park. Originally developed in 1960, the park is on approximately 7.86 acres of land. All homes are tenant-owned. The unit mix of the park consists of seven RV spaces, 23 single wide, and seven double-wide spaces. Historically the property was on well water and septic with a drain field, but has since been connected to the city water and sewer system. The owner has invested substantial money into infrastructure and repairs/maintenance. The mobile home sites are fully occupied with some seasonal vacancy and opportunity in leasing the RV spaces.

A savvy investor is poised to benefit from purchasing this stabilized mobile home park and begin immediate positive cash flow. An investor can depend on strong, reliable cash flow with the ability to increase income through future rent raises and a proactive approach to leasing the RV spaces.

Location

The property is located in Mossyrock, Washington, just off Interstate 12. The city of Mossyrock is historically tribal land of the Cowlitz tribe. In 2001, a modern, efficient Waste Water Treatment Plant was built that serves the area. Public investment in these systems - along with City buildings including a large Community Center, several miles of City streets, lighting, stormwater management, and Parks - support the community's public health, safety, welfare, and economics. The city is a small bedroom community in central Washington near Riffe Lake and Mossyrock Park, a 152-campsite park.

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