Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 6.3%
  • Listing ID: 6685461
  • Posted On: Aug 7, 2024
  • Updated On: Oct 31, 2024

Description

Don't Miss Out On This Incredible Investment In The Rapidly Growing City Of Bellingham, WA! This 11-Unit Mobile Home Park Boasts A Gross Income Of $143,700 And A Net Income Of $111,960, With All Units Currently Rented Below Market Value. The Property Features 9 Mobile Spaces (5 Park-Owned) And A Rambler Duplex, All Connected To City Water And Sewer. Zoned For Multifamily Development, The Proforma Gross Rents Are Projected At An Impressive $178,800 Annually. With A Proforma Cap Rate Of 6.26% And A Net Income Of $147,060 After Increasing Rents And Billing Water, Sewer, And Garbage Costs Back To Tenants, This Is A Fantastic Opportunity You Won't Want To Miss!

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Park Information

Size: 1 acre(s)

Financial Information (Pro Forma)

Gross Income: $178,800
Net Operating Income: $147,060

Utility Information

Water: City
Sewer: City

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