Parkview Terrace Mobile Home Park

Multi-Family for Sale
Catylist Listing ID: 30395795
Property Subtypes: Mobile Home Park
Number of Units: 33 Units
Building Size (RSF): 1,024 SF
Gross Building Area: 804,989 SF
Gross Land Area: 804,989 SF
Sale Price: $1,689,000
Unit Price: $51,181.82 Per Unit
Property Use Type: Investment
Building Name: Parkview Terrace Mobile Home Park
Sale Terms: Cash to Seller, Purchase Money Mortgage
Cap Rate: 6.7%
Last Updated: 4/20/2019

Overview / Comments

The Mobile Home Park itself is valued at a 6.7 cap rate at $1,350,000. The balance of the commercial property is valued at approx $.90 per sq.ft.
Clean and well managed 33 unit Mobile Home Park sitting directly on Newport Highway. Property consists of 18.48 commercial acres, with the mobile home park itself sitting on approx. 10 of those acres. This leaves about 8.48 acres vacant and available for development.
Homes are sub-metered and tenants pay for their own water usage. There is a park owned pump house, shop, and garden storage shed, all upgraded with new steel one-piece roofs, insulation & new lighting and heating systems. a 32X32 slab on grade shop is heated with new electric furnace. Roads are paved. and lit with upgraded street lights. All units have an 8X12 storage shed.

Additional Details

Nearest MSA: Spokane-Spokane Valley
County: Spokane
Tax ID/APN: 39355.9601
Percent Occupied: 100%
Highway Access: 1l4 mile fronts Highway 2. Property sits on N Newport Hwy
Airports: Spokane Int'l Airport
Site Description: level with some terraced and unobstructed countryside views. Over 75 trees. paved and lighted streets. Big shop. Each space has its own 8X12 storage unit
Area Description: Riverside School is located just across the highway. Property is flat to terraced overlooking unobstructed countryside views. Grocery, dental, and other conveniences nearby.
Property Condition: Excellent
Laundry: In Each Unit
Heat Type: Electricity, Natural Gas
Fuel: Gas, Electric
Zoning Description: commercial with additional building opportunity
Lot Frontage: Highway 2 and N Newport Highway
Water Service: Well
Sewer Type: Septic
Land Ownership: LLC
Legal Description: 35-29-Sw1/4 of the Sw1/4 of the Nw1/4 & the Nw1/4 of the Nw1/4 of the Sw1/4; Exc Co Rds (Mt Spokane Mobile Home Park)

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,552 5,979 14,376
Median Age: 46.47 40.47 40.94
Households: 949 2,064 5,112


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