Contact Information
Mobile Home Park Details
- Price: $2,500,000
- Purchase Method: Cash, New Loan
- Cap Rate: 3.8%
- Property ID: 2175596
- Posted On: Mar 16, 2023
- Updated On: Mar 16, 2023
Property Description
Well maintained 1.49 acre mobile home park in a great location in central Lynnwood and close to shopping, schools, emergency services, and recreation. Minutes to Seattle, Everett, Boeing, and the Eastside. (16) MH spaces plus an additional RV hook-up and a newly renovated 3-bedroom house. Updated water supply system, site is connected to city water and sewer. (2) of the units are park-owned, all the others are tenant-owned. Opportunities for additional income: filling (1) existing vacant home space, (1) RV hook-up space, individual metering of the utilities, and renting the house. Rents are below market, Buyer to confirm market rent outlook. Proforma 6.3 Cap Rate.
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Park Information
Community Type: | All Age |
Year Built: | 1955 |
Size: | 2 acre(s) |
Financial Information (Actual)
Gross Income | $140,460 |
Operating Expense | $44,716 |
Net Operating Income | $95,744 |
Expense Ratio | 31.8 % |
Debt Info |
Utility Information
Water: | City |
Sewer: | City |