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Oak Acres Estates 1018 Monte Elma Rd 18 Unit Mobile Home Park $1,250,000 ($69,444/Unit) 6.60% Cap Rate Elma, WA 98541
Investment Highlights
- A quiet and peaceful place that has not been for sale in decades
Executive Summary
Oak Acres Estates offers 18 manufactured home lots that are intended for and operated as housing for those who are age 55 or older. All lots are fully occupied and have a consistent history of 100% occupancy, providing reliable income. Each lot is connected to public water and septic. The manufactured homes and lots are attractive and well maintained by its residents who instill pride of ownership in their home and their community. The property was originally developed with and next to the Oaksridge Golf Course and a large open field where deer and elk roam.
Oak Acres is a quiet and peaceful place that has not been for sale in decades. Combining a stable tenancy, low expenses, strong income, attractive lots, and a great rural location that remains near whatever its residents may need, this 55+ community offers a rare and valuable long-term investment opportunity that is turnkey ready to be self-managed in a growing Grays Harbor area.
Oak Acres is a quiet and peaceful place that has not been for sale in decades. Combining a stable tenancy, low expenses, strong income, attractive lots, and a great rural location that remains near whatever its residents may need, this 55+ community offers a rare and valuable long-term investment opportunity that is turnkey ready to be self-managed in a growing Grays Harbor area.
Property Facts
| Price | $1,250,000 | Apartment Style | Garden |
| Price Per Unit | $69,444 | Building Class | C |
| Sale Type | Investment | Lot Size | 3.97 AC |
| Cap Rate | 6.60% | Average Occupancy | 100% |
| No. Units | 18 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1973 |
| Property Subtype | Manufactured Housing/Mobile Home | ||
| Zoning | RR | ||
| Price | $1,250,000 |
| Price Per Unit | $69,444 |
| Sale Type | Investment |
| Cap Rate | 6.60% |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Manufactured Housing/Mobile Home |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 3.97 AC |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1973 |
| Zoning | RR |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 18 | - | - |
1 1
Property Taxes
| Parcel Number | 180632130080 | Improvements Assessment | $516,780 |
| Land Assessment | $119,100 | Total Assessment | $635,880 |
Property Taxes
Parcel Number
180632130080
Land Assessment
$119,100
Improvements Assessment
$516,780
Total Assessment
$635,880
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Olsen Properties, LLC
Oak Acres Estates | 1018 Monte Elma Rd
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