Mobile Home Park Details
- Cap Rate: 7.0% (Actual)
- Listing ID: 1712094
- Posted On: Jul 13, 2022
- Updated On: Nov 13, 2022
Description
Tired of low return on your investments? Here is an investment opportunity with great cash flow! Gross rent for 9 units is $7535/mo with the potential for growth.
Seller made capital improvements years 2019, 2020, 2021…showing a net profit of more than $50,000 in 2021 and expects 2022 to show a similar return even though the 9th unit was not rented while being re-habbed. Long-term tenants who pay on time, low vacancy rate in a high demand area. There is a tenth spot with no home which offers many options for onsite manager home, shop or 10th rental spot Feels very private, with each home having a shed and yard in a nicely treed area. Easy access from main road. Public water/sewer. Very close to Loon Lake and about 30 minutes from North Spokane. Lots of outdoor activities nearby. PLEASE DO NOT VISIT/DISTURB TENANTS!!
Location
North of Spokane, WA near Loon Lake, WA
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 10 |
| Total Occupancy: | 90.0 % |
| Average MH Lot Rent: | $760 |
| Size: | 1 acre(s) |
Financial Information (Actual)
| Gross Income: | $7,535 |
| Operating Expense: | $1,999 |
| Net Operating Income: | $5,535 |
| Expense Ratio: | 26.5 % |
Utility Information
| Water: | City |
| Water Paid By: | Park |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 9 |
| Average Rent for Park-owned Homes: | $760 |