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21021 Old Highway 99 SW 19 Unit Mobile Home Park $2,200,000 ($115,789/Unit) 10.63% Cap Rate Centralia, WA 98531
Investment Highlights
- 25-pad MH & RV park including park-owned homes, RV/dry pads, laundry, parking, and underutilized storage units.
- Positioned near I-5 in Centralia, WA, benefiting from stable renter demand, regional employers, and seasonal RV tourism.
- Ability to increase rents, optimize RV pad income, and expand ancillary revenue with limited near-term CapEx.
Executive Summary
Investment Sales Group | Compass is pleased to present the Grand Mound MH & RV Park,
located at 21021 Old Highway 9 SW in Centralia, Washington, a well-established multifamily
investment opportunity priced at $2,200,000. The property consists of 25 units with a mix of
mobile home and RV park spaces. The property generates solid returns with a current net
operating income of $233,775, offering investors a stable cash flow and a projected pre-tax
cash flow of $103,161 at current rents.
The property features a mix of 25 pads, 10 dry pads with electrical hookups only, six park-owned
homes, and one stick-built home. It also benefits from essential infrastructure, including well water
with newly installed equipment, four septic tanks, and a building with two bathrooms, a laundry
room, and an owner’s office. The investment offers strong returns, with additional upside through
rent increases and the ability to generate storage income from 10 large storage units—making it
even more compelling as a long-term hold.
Located in the thriving Grand Mound area of Centralia, Washington, this property is
strategically situated with easy access to major highways and regional amenities. The location
is ideal for residents and visitors alike, offering easy access to shopping, dining, and
entertainment. The park is positioned in an area with a stable and growing population,
presenting investors with strong demand for mobile homes and RV spaces. With its prime
location and solid investment fundamentals, Grand Mound MH & RV Park is a prime
opportunity for investors looking to capitalize on an undervalued property with substantial
upside potential.
located at 21021 Old Highway 9 SW in Centralia, Washington, a well-established multifamily
investment opportunity priced at $2,200,000. The property consists of 25 units with a mix of
mobile home and RV park spaces. The property generates solid returns with a current net
operating income of $233,775, offering investors a stable cash flow and a projected pre-tax
cash flow of $103,161 at current rents.
The property features a mix of 25 pads, 10 dry pads with electrical hookups only, six park-owned
homes, and one stick-built home. It also benefits from essential infrastructure, including well water
with newly installed equipment, four septic tanks, and a building with two bathrooms, a laundry
room, and an owner’s office. The investment offers strong returns, with additional upside through
rent increases and the ability to generate storage income from 10 large storage units—making it
even more compelling as a long-term hold.
Located in the thriving Grand Mound area of Centralia, Washington, this property is
strategically situated with easy access to major highways and regional amenities. The location
is ideal for residents and visitors alike, offering easy access to shopping, dining, and
entertainment. The park is positioned in an area with a stable and growing population,
presenting investors with strong demand for mobile homes and RV spaces. With its prime
location and solid investment fundamentals, Grand Mound MH & RV Park is a prime
opportunity for investors looking to capitalize on an undervalued property with substantial
upside potential.
Property Facts
| Price | $2,200,000 | Building Class | C |
| Price Per Unit | $115,789 | Lot Size | 2.05 AC |
| Sale Type | Investment | Building Size | 3,300 SF |
| Cap Rate | 10.63% | No. Stories | 1 |
| No. Units | 19 | Year Built/Renovated | 1940/1969 |
| Property Type | Multifamily | Parking Ratio | 10/1,000 SF |
| Property Subtype | Manufactured Housing/Mobile Home | Opportunity Zone |
Yes
|
| Zoning | AC | ||
| Price | $2,200,000 |
| Price Per Unit | $115,789 |
| Sale Type | Investment |
| Cap Rate | 10.63% |
| No. Units | 19 |
| Property Type | Multifamily |
| Property Subtype | Manufactured Housing/Mobile Home |
| Building Class | C |
| Lot Size | 2.05 AC |
| Building Size | 3,300 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1940/1969 |
| Parking Ratio | 10/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | AC |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 19 | - | - |
1 1
Somewhat walkable
20/100
Exceptionally drivable
100/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 42201000300 | Improvements Assessment | $340,500 |
| Land Assessment | $288,100 | Total Assessment | $628,600 |
Property Taxes
Parcel Number
42201000300
Land Assessment
$288,100
Improvements Assessment
$340,500
Total Assessment
$628,600
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21021 Old Highway 99 SW
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