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Mobile Home Park Details

  • Price: $4,800,000
  • Purchase Method: Cash, New Loan
  • Cap Rate: 8.7%
  • Property ID: 1719461
  • Posted On: Jul 22, 2022
  • Updated On: Dec 1, 2022

Property Description

Check Out This Awesome 40 Unit Mobile Home Park In Airway Heights, Washington. 4.58 Acres Including 33 Great Park Owned Units, 1 Mobile Space Rental, 2 RV Space Rentals And 4 Warehouse Units. Room To Expand Mini Storage And Warehousing. Additional Residential Units Not Expandable Due To Fairchild Air force Base. $542,700 Gross Proforma Income, $418,000 Net Proforma Income And 8.70% Proforma Cap Rate. $362,280 Actual Gross Income, $262,580 Actual Net Income And 5.47% Cap Rate. Extremely Low Current Rents With Unlimited Potential To Increase The Gross Income To Over $600,000. Close To Parks, Shopping, Spokane International Airport, Restaurants, Casinos And Spokane Metropolitan Area. 513,000 Population In Spokane County. Don't Miss Out On This Rare Opportunity To Own A Great Park With Huge Potential!

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Park Information

Community Type: All Age
Size: 5 acre(s)

Financial Information (Pro Forma)

Gross Income $542,700
Operating Expense $124,700
Net Operating Income $418,000
Expense Ratio 23.0 %
Debt Info

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