Lakeland Mobile Home Park

Sales Price: $1,000,000.00

Sales Price: $1,000,000.00
No. Spaces: 13
Price/Space: $92,308
Property Type: Family
Cap Ratio: 5.59%%
Net Operating Income: $67,043
Lot Size: 15 Acres Acres

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Lakeland Estates is a 13-space unique rural Family Community located in highly desirable Auburn, Washington. Property covers approx. 13 acres and features large lots that are approximately .43 of an acre per home. Property is serviced by Public water and on-site septic system with each home on its own septic tank. Tenants are responsible for Water charges which is directly metered and billed by Covington Water District. Rents are currently $540 and includes sewer. There is currently one vacant space located in Lot #14.

Another unique feature is that the property is zoned as Planned Unit Development (PUD 236-76-P) but current use is “mobile home park” which is significant since a Buyer could change the land use much easier that a park zoned as a MHP. When the park was built, the Department of Health also ruled the property as not a classified “Mobile Home Park” due to large lots and individual septic tanks per home, making the annual inspections not required (Additional Documentation available).