Regal Estates Mobile Home Park



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Listing Information
$3,800,000 
Sales Price: $3,800,000
No. Spaces: 78
Price/Space: $48,717
Property Type: Senior
Cap Rate: 7.05%
Net Operating Income: $267,758
Lot Size: 7.76 Acres

Description:
~IN CONTRACT AS OF 11/29/17~Regal Estates Mobile Home Park is a 78 space Quality Senior community located in highly desirable Downtown Yakima, WA. Park was built in 1968 and covers approximately 7.76 acres. The park operates on on-site septic and well.

Mobile Home Space rent is $455.00/month (See Rent Roll for detailed summary) with Owner only responsible for garbage. $15 Rent incerase Effective December 1st on all mobiles and RV's. Park contains 9 RV Spaces, 6 of which are occupied that rent for $335/month. There is possible upside in putting Park Models into the vacant RV sites.

Access to the property is off I-90 via I-82E, approximately 2-hour drive from Seattle (184 miles to Portland and 204 miles to Spokane). Yakima is the county seat of Yakima County, Washington, and the state's eleventh largest city by population. As of the 2010 census, the city had a total population of 91,067, a 15% increase since 2000. Yakima County had a population of 243,231 per 2010 census.

Yakima Valley is an extremely productive agricultural region noted for apple, wine and hop production. As of 2011, the Yakima Valley produces 77% of all hops grown in the United States. Yakima Valley Washington' s premium wine region now offers more than 50 different Wineries and tourist attractions in the area with over 300 days of sunshine a year.
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