Log In/Sign Up
Your email has been sent.
Lake Lawrence Mobile Home Park 17106 153rd Ave SE 42 Unit Mobile Home Park $4,500,000 ($107,143/Unit) 6.28% Cap Rate Yelm, WA 98597
EXECUTIVE SUMMARY
Lake Lawrence MHP operates primarily as a tenant-owned home (TOH) community, with 39 occupied resident-owned homes and three vacant park-owned homes currently in transition.
Recent rent adjustments have positioned most existing residents in the $800 range, demonstrating strong market acceptance, while new move-ins could support $900–$1,000 monthly rents. Current occupancy is 93%, with vacancies limited to the transitioning park-owned units. The community’s mature landscaping, wide sites, and park-like setting foster resident pride and long-term retention.
The vacant park-owned homes include two which are being replaced with new single-wides prior to close. The remaining park-owned home has served as an office in the past. The current owner plans on selling all three of these homes to tenants before closing.
This opportunity combines the stability of a well-operated community with the upside potential of strategic expansion for buyers interested in development, all within a market characterized by strong demand fundamentals and limited supply. For investors focused on current income, the property operates as a turn-key investment ready to generate stable cash flow for years to come.
Recent rent adjustments have positioned most existing residents in the $800 range, demonstrating strong market acceptance, while new move-ins could support $900–$1,000 monthly rents. Current occupancy is 93%, with vacancies limited to the transitioning park-owned units. The community’s mature landscaping, wide sites, and park-like setting foster resident pride and long-term retention.
The vacant park-owned homes include two which are being replaced with new single-wides prior to close. The remaining park-owned home has served as an office in the past. The current owner plans on selling all three of these homes to tenants before closing.
This opportunity combines the stability of a well-operated community with the upside potential of strategic expansion for buyers interested in development, all within a market characterized by strong demand fundamentals and limited supply. For investors focused on current income, the property operates as a turn-key investment ready to generate stable cash flow for years to come.
PROPERTY FACTS
| Price | $4,500,000 | Apartment Style | Garden |
| Price Per Unit | $107,143 | Building Class | C |
| Sale Type | Investment | Lot Size | 22.20 AC |
| Cap Rate | 6.28% | Building Size | 96,703 SF |
| No. Units | 42 | Average Occupancy | 93% |
| Property Type | Multifamily | No. Stories | 1 |
| Property Subtype | Manufactured Housing/Mobile Home | Year Built | 1987 |
| Zoning | C - Commercial | ||
| Price | $4,500,000 |
| Price Per Unit | $107,143 |
| Sale Type | Investment |
| Cap Rate | 6.28% |
| No. Units | 42 |
| Property Type | Multifamily |
| Property Subtype | Manufactured Housing/Mobile Home |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 22.20 AC |
| Building Size | 96,703 SF |
| Average Occupancy | 93% |
| No. Stories | 1 |
| Year Built | 1987 |
| Zoning | C - Commercial |
1 1
1 of 46
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
Lake Lawrence Mobile Home Park | 17106 153rd Ave SE
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.