Photo of Mobile Home Park

Mobile Home Park Details

Purchase Method: Cash, Seller Financing
Cap Rate: 6.9%
Listing ID: 17359
Posted On: Oct 15, 2010
Updated On: Mar 7, 2011

Description

Excellent cash flow from this gem of a park. Large, wooded, park-like setting in nice residential neighbor-hood. Nearby schools and amenities assure strong tenant occupancy. Wal-Mart is being built down the street which will add to Home Depot, Costco, Fred Meyer, and other numerous retailers. The City of Tumwater is in the process updating streets, utilities, and other infrastructure. The savvy investor can take advantage of the upside in rents and the exclusive seller financing.

Location

The City of Tumwater is located at the southern tip of the Puget Sound, just south of the state capitol, Olympia. Based on per capita income, one of the more reliable measures of affluence, Tumwater ranks 89th of 522 areas in the state of Washington to be ranked. It is also the highest rank in Thurston County.
The Littlerock Neighborhood is generally bounded on the north by the Costco retail warehouse and Olympic Memorial Gardens Cemetery, to the east by Interstate 5, to the west by Littlerock Road and the Tumwater Middle School, and to the south by the present city limit boundary south of Tumwater Boulevard. This neighborhood can expect intensive commercial development within the near future. As a result, this area will probably experience significant future growth. Be-cause of this anticipated growth, the potential exists for great changes in the character of this neighborhood.

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