PROPERTY DESCRIPTION:
Pace Manor Estates is a well-cared for all-ages community located in highly desirable East Wenatchee, WA (Douglas County). Site features 62 mobile home spaces and one quality stick-built residence. The park has 100% occupancy with zero tenant delinquencies and no evictions in over 9 years. The community lies on 7.76 acres and operates on City services with an irrigation canal for tenants’ lawn use.
The manufactured home spaces rent at $600/month that includes water & Sewer. Tenants billed directly for garbage (individual cans), cable and electricity. Rents are under market for the area (see rent comparable on the following page).
The stick-built residence is 1,452 square feet (3 bedrooms, 1 bath) that rents out at $1,400/month, with the same tenants has been there for 7 years. The estimated market value for the house is approximately $350,000. The park also charges tenants $50/per month per additional car, there are currently 8 tenants paying the fee.
The property has an on-site manager that receives free rent for compensation and handles rent collection, distributing notices, and miscellaneous repair and maintenance.
There is an irrigation canal that runs behind the Property that provides tenants water for their lawns, park utilizes pump that pressurizes the irrigation system to flow through the park. The Park owns dedicated "shares" of water which are specific to Pace Manor. The canal is seasonal from Early April until early October and is empty in fall and winter seasons. The on-site manager handles all irrigation maintenance. The cost for shares of the canal is included in the Property taxes through the county.
LOCATION:
Property is a 2.5 hour drive from Seattle or a 50-minute flight into Pangborn Memorial Airport. As of 2022, the Wenatchee population is 122,265. Wenatchee strength comes from a stable economic environment as the area has diversified significantly including the latest addition of the Diamond Foundry along with Microsoft and other large companies building Data Centers. Today, the area’s largest employers reflect the region’s agricultural heritage, but also other strengths including hydroelectric power, health care, technology and tourism industries. Wenatchee is referred to as the "Apple Capital of the World" due to the valley's many orchards and in 2019, the Wenatchee Valley was identified by Forbes Magazine as one of the top 25 places to retire.
