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Listed by Coldwell Banker Evergreen
$ 1,550,000
Est. payment | /mo
0.75 Acres Lot
$ 1,550,000
Est. payment | /mo
0.75 Acres Lot
Key Details
Property Type Commercial
Sub Type Commercial Industrial
Listing Status Active
Purchase Type For Sale
Subdivision Olympia
MLS Listing ID 2433504
Style 72 - Mobile Home Park
Year Built 1965
Annual Tax Amount $6,430
Lot Size 0.751 Acres
Lot Dimensions 263X126
Property Sub-Type Commercial Industrial
Property Description
Rare opportunity to own a fully occupied, seller-owned 8-unit mobile home park in Olympia, delivering an impressive 8.91% cap rate and strong in-place cash flow. Devoe Mobile Park produces $138,128 in annual NOI and $160,800 in gross income, making it one of the highest-yielding portfolios in Thurston County! Includes 1 single-family home and 7 mobile homes, plus 11 storage sheds, a 2-car garage, coin-operated laundry, and a vintage root cellar under one unit all with onsite management. Private and quiet, but near main corridor in a high-demand rental market. This asset offers both immediate income and long-term potential. Strong historical occupancy, minimal operating costs, and clear upside — Devoe checks every box for the savvy investor.
Location
State WA
County Thurston
Area 447 - Olympia North
Interior
Flooring Laminate, Vinyl
Fireplace false
Exterior
Exterior Feature Metal/Vinyl, Wood, Wood Products
Roof Type Composition
Building
Sewer Septic Tank
Water Public
Others
Senior Community No
Acceptable Financing Cash Out, Conventional, See Remarks
Listing Terms Cash Out, Conventional, See Remarks
"Three Trees" icon indicates a listing provided courtesy of NWMLS.
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Kathy Schneider
Client Consultant REALTOR® | Lic# 37041