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Mobile Home Park

Forest Grove

1530 148th St NE, Arlington, WA 98223

Listing Price: $2,000,000

Cap Rate
6.52%
Occupancy
95.0%
Spaces/Acre
2.00

Investment Overview

Marcus and Millichap is pleased to exclusively present Forest Grove Mobile Home Park, located at 1530 148th Street NE in the city of Arlington. Forest Grove Mobile Home Park is a 24 space all-age community with a mix of single wide & double wide homes. Built in 1975 the property sits on one large parcel which totals 10.65 acres of land.

The community is well located in the city of Arlington, and has always had very high occupancy rates. The Park has all asphalt paved streets and is surrounded by trees that give it a peaceful feel that the residents really enjoy. It is serviced by both septic and well. Both have been very well maintained over the years, and the septic was completely upgraded in 2018. It is close to dining, shopping, and entertainment amenities for the residents convenience.

Forest Grove Mobile Home Park offers either a seasoned investor, or a first time investor a great cash flowing opportunity with some value add upside. A new investor would be able to increase space rent, fill up vacancies, as well as implement utility bill backs. There would also be opportunities to do value add work to the park itself to help increase not only the rents, but also the ancillary income to the park.

Investment Highlights

  • All Age Community Along I-5 Corridor
  • Seattle MSA
  • Upgraded Septic System In 2018
  • Paved Roads

Exclusively Listed By

Listing Price: $2,000,000

Cap Rate
6.52%
Occupancy
95.0%
Spaces/Acre
2.00

Investment Highlights

  • All Age Community Along I-5 Corridor
  • Seattle MSA
  • Upgraded Septic System In 2018
  • Paved Roads

Investment Overview

Marcus and Millichap is pleased to exclusively present Forest Grove Mobile Home Park, located at 1530 148th Street NE in the city of Arlington. Forest Grove Mobile Home Park is a 24 space all-age community with a mix of single wide & double wide homes. Built in 1975 the property sits on one large parcel which totals 10.65 acres of land.

The community is well located in the city of Arlington, and has always had very high occupancy rates. The Park has all asphalt paved streets and is surrounded by trees that give it a peaceful feel that the residents really enjoy. It is serviced by both septic and well. Both have been very well maintained over the years, and the septic was completely upgraded in 2018. It is close to dining, shopping, and entertainment amenities for the residents convenience.

Forest Grove Mobile Home Park offers either a seasoned investor, or a first time investor a great cash flowing opportunity with some value add upside. A new investor would be able to increase space rent, fill up vacancies, as well as implement utility bill backs. There would also be opportunities to do value add work to the park itself to help increase not only the rents, but also the ancillary income to the park.

Exclusively Listed By

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