14.5% Cap Great income opportunity! 12823 W 13th, Airway Heights, WA 99001

Expired   Price Reduced  

Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park

Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 14.5%
  • Listing ID: 456977
  • Posted On: Jun 27, 2014
  • Updated On: Oct 24, 2015

Description

Contact info:
Miki Demopulos | Luxcel Realty | 509-499-4313

Mobile Home Park in Airway Heights---cap rate 14.5%!!!

W 13th Ave, Airway Heights, WA 99001

$475,000

KEY FEATURES
Year Built: 1961
Bedrooms: 9+ Beds
Bathrooms: 9+ Baths
Parking: None
Laundry: Shared
Property Type: Multi-Family

DESCRIPTION

The park has 18 spaces, 15 currently rented including one single home. Shop/garage and coin operated laundry. All park owned homes. Many units have new windows, water heater, carpet installed. Needs some TLC. ask for documents including Cap analysis report and rent income summary. Cash of Conventional. Excellent rental income. Many long term tenants.

PROPERTY FEATURES
  • Storage space
  • Range / Oven
  • Refrigerator
  • Heat: forced air
  • Cable-ready
COMMUNITY FEATURES
  • Off-street parking
  • On-street parking


Contact info:
Miki Demopulos
Luxcel Realty
509-499-4313
See attached documents for more information. Cap analysis report and rent income summary included.Call (509)499-4313 for information.

Location

Established Mobile Home Park (since 1955) in a residential area in one of the fastest growing town in Washington State. Airway Heights is only minutes from Downtown Spokane, with one of the most popular casino in state, Super Wal-mart, movie Theater, International Airport, Fairchild Air Force Base and many franchise stores. Mobile Home Park is also located blocks from City Hall, library, Police Station, grocery store, park and school.

Amenities

  • Laundromat
  • Storage
Interested in purchasing this mobile home park? Get pre-qualified for a loan.
Get Financing

Park Information

Community Type: All Age
Number of MH Lots: 18
Total Occupancy: 85.0 %
Year Built: 1955
Average MH Lot Rent: $525
Size: 1 acre(s)

Financial Information (Actual)

Gross Income: $93,726
Operating Expense: $24,470
Net Operating Income: $69,256
Expense Ratio: 26.1 %
Debt Info: see attachment

Utility Information

Water: City
Water Paid By: Park
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 17
Average Rent for Park-owned Homes: $525