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Mobile Home Park

Tory Lynn & Tiffany Lane Mobile Home Parks

102 Tory Lynn Dr, Winlock, WA 98596

Listing Price: $2,300,000

Cap Rate
4.90%
Number of Spaces
26
Lot Size
14.50 acres
Occupancy
97.0%
Price/Space
$88,462
Spaces/Acre
1.79
Year Built
1990

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a two-property, 26-space Mobile Home Park portfolio. Tory Lynn & Tiffany Lane are situated less than two miles from each other in Winlock, Washington. The town of Winlock is located in Lewis County - less than a two-hour drive from both Seattle, WA and Portland, OR. Still owned by the family that built them in the 1990s, both parks have benefited from nearly 25 years of continuous and caring ownership. Lot rents for both parks range from $280 - $400, trailing far behind those in nearby Chehalis and offering a new owner plenty of upside in rents. Both parks are 100% occupied with very little historical turnover, and some tenants that have been around since the beginning. Tory Lynn is an 18-space mobile home park featuring primarily tenant-owned homes. There is one park-owned home, which was completely refurbished in 2019. Tiffany Lane is comprised of six tenant-owned homes and two park-owned homes. Both Tory Lynn & Tiffany Lane have a “neighborhood” feel, with well-maintained roads and grass. All homes are double-wides, with an average pad size in excess of 5,000 SF. The parks feature private wells & septic systems, all of which are well-maintained and have minimal operating and testing costs. Most tenants are charged $50 per month “additional rent”, which covers water & sewer. Tenants are direct-billed for trash. All homes are serviced by 200 amp electricity, which tenants are also direct-billed for. Once home to a booming egg industry, Winlock is still has a charming, agricultural feel. The town’s central business district features a grocery store and eateries including a coffee shop, BBQ restaurant, and a Mexican cantina. Winlock Elementary, Middle, and High Schools are easily accessible from both Parks. With a population of approximately 1,500, Winlock is located 15 miles southeast of Chehalis, WA (pop. approx. 7,000) and 17 miles southeast of Centralia, WA (pop. approx. 17,000). Residents of Tory Lynn & Tiffany Lane appreciate the safety and serenity of small-town life while still benefitting from access to major retailers and services in surrounding cities. Nearby Mt. Rainier, White Pass Ski Resort, Cowlitz River, and more offer plenty of opportunity for residents to get outside.

Investment Highlights

  • Lot rents far below market
  • First time either Park has been on the market
  • Well-maintained with low expense load
  • Mostly tenant-owned homes
  • Private utilities
  • 100% occupied, with low turnover
  • Located less than 2 hours from Seattle and Portland

Exclusively Listed By

Broker of Record

  • Joel Deis

    First Vice President/Regional Manager

    (206) 826-5700

    License(s) WA: 25469

    Washington

Mobile Home Park

Tory Lynn & Tiffany Lane Mobile Home Parks

Listing Price: $2,300,000

Cap Rate
4.90%
Number of Spaces
26
Lot Size
14.50 acres
Occupancy
97.0%
Price/Space
$88,462
Spaces/Acre
1.79
Year Built
1990

Investment Highlights

  • Lot rents far below market
  • First time either Park has been on the market
  • Well-maintained with low expense load
  • Mostly tenant-owned homes
  • Private utilities
  • 100% occupied, with low turnover
  • Located less than 2 hours from Seattle and Portland

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a two-property, 26-space Mobile Home Park portfolio. Tory Lynn & Tiffany Lane are situated less than two miles from each other in Winlock, Washington. The town of Winlock is located in Lewis County - less than a two-hour drive from both Seattle, WA and Portland, OR. Still owned by the family that built them in the 1990s, both parks have benefited from nearly 25 years of continuous and caring ownership. Lot rents for both parks range from $280 - $400, trailing far behind those in nearby Chehalis and offering a new owner plenty of upside in rents. Both parks are 100% occupied with very little historical turnover, and some tenants that have been around since the beginning. Tory Lynn is an 18-space mobile home park featuring primarily tenant-owned homes. There is one park-owned home, which was completely refurbished in 2019. Tiffany Lane is comprised of six tenant-owned homes and two park-owned homes. Both Tory Lynn & Tiffany Lane have a “neighborhood” feel, with well-maintained roads and grass. All homes are double-wides, with an average pad size in excess of 5,000 SF. The parks feature private wells & septic systems, all of which are well-maintained and have minimal operating and testing costs. Most tenants are charged $50 per month “additional rent”, which covers water & sewer. Tenants are direct-billed for trash. All homes are serviced by 200 amp electricity, which tenants are also direct-billed for. Once home to a booming egg industry, Winlock is still has a charming, agricultural feel. The town’s central business district features a grocery store and eateries including a coffee shop, BBQ restaurant, and a Mexican cantina. Winlock Elementary, Middle, and High Schools are easily accessible from both Parks. With a population of approximately 1,500, Winlock is located 15 miles southeast of Chehalis, WA (pop. approx. 7,000) and 17 miles southeast of Centralia, WA (pop. approx. 17,000). Residents of Tory Lynn & Tiffany Lane appreciate the safety and serenity of small-town life while still benefitting from access to major retailers and services in surrounding cities. Nearby Mt. Rainier, White Pass Ski Resort, Cowlitz River, and more offer plenty of opportunity for residents to get outside.

Exclusively Listed By

Broker of Record

  • Joel Deis

    First Vice President/Regional Manager

    (206) 826-5700

    License(s): WA: 25469

    Washington

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