Mobile Home Park Details

  • Purchase Method: Cash
  • Cap Rate: 9.6%
  • Listing ID: 1726355
  • Posted On: Aug 2, 2022
  • Updated On: Apr 21, 2023

Description

Awesome 33 Unit Mobile Home Park In Chattaroy, Washington. MOTIVATED SELLER Currently In A 1031 Exchange. 20 Miles North of Spokane. 33 Mobile Spaces, All Large Enough For Double-Wides, 2 large Shop Rentals Available. Approximately 30 Miles To Fairchild Air Force Base Employing 5,200 And New Amazon Distribution Center Employing 4,000. Gross Proforma Income With Rent Increases of $260,094 Net Proforma Income of $220,094 With A 9.57% Proforma Cap Rate. All Tenant Owned Mobiles Sit On 13.44 Beautiful Acres. Nicely Landscaped, Blacktop Roads, Public Water, Power and Gas. Large Lots With Underground Utilities. Current Rents $200 Below Market. Close To Medical, Grocery, Schools and Shopping. Don't Miss Out On this Great Opportunity To Own A Well Kept Park With Great Upside In Growing Spokane County With Over 500,000 Population!

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Park Information

Community Type: All Age

Financial Information (Pro Forma)

Gross Income: $260,094
Operating Expense: $40,000
Net Operating Income: $220,094
Expense Ratio: 15.4 %

Utility Information

Water: City
Sewer: Septic

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