Van Fleet's Mobile Home Community

Sales Price: $10,000,000.00

Sales Price: $10,000,000.00
No. Spaces: 74
Price/Space: $135,135
Property Type: Family
Cap Ratio: %
Net Operating Income: $309,516
Lot Size: 20 Acres

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Van Fleets Mobile Home Park is a 74 Quality space family Community built in early 1990’s located in Sedro Woolley, WA (Skagit County). Property covers 20 acres and offers very spacious home sites and green space throughout for a serene park like setting.

This community has several upsides including the ability to add spaces in removing fruit orchard as well as large storage building (72x40-2,880 sq ft) that lies next to stick built (see site map). The Water & Garbage charges could also be passed through to the tenants to increase revenue.

The rents are below market at $465-$495 and includes Garbage and Water. Average market rent for the area is approx. $625 with most parks having Tenants responsible for w/s/g ($700+ effective rents). There is one vacant pad in the property located in Space #7, site is ready for Mobile. Park space mix is approx. 50% Doublewides & 50% Singlewides.

There is a quality single family residence on-site that was resided in by Owners who had built the community. Home is 4 Bedroom/ 3 Bath (2,600 sq ft) that was fully remodeled over the past year, pictures enclosed. Market rent for the home is approx. $2,800 on low end or Buyer could parcel off the home and sell for $500,000+ as is situated on the outside road of the park, with its own access.

Access to the property is off primary I-5 approximately 1-hour drive from Seattle (72 miles from Seattle, 27 miles from Bellingham). Skagit County's economy is booming and is regarded as one of the fastest growing areas in the state. Agriculture, fishing, wood products, tourism, international trade, and specialized manufacturing make up the economy of Skagit Valley. Skagit County is also the center of the states petroleum industry with its accessible ports and refineries.