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Wallace River Mobile Home Park 36010 State Route 2 64 Unit Mobile Home Park $6,500,000 ($101,563/Unit) 7.04% Cap Rate Sultan, WA 98294
Investment Highlights
- Easy access to SR-2 and public transit
- River views
Executive Summary
Wallace River Mobile Home Park offers 64 rental units public water and septic systems. The 41 manufactured home with NO park owned units, lots are fully occupied with a consistent history of 100% occupancy, 16 of the 23 RV spaces are currently rented, providing steady and diversified income with a 7 CAP. The property features about 1,000 feet of frontage along the Wallace River, including a large common park area for residents to enjoy, as well as roughly 1,200 feet of frontage along SR-2 with three convenient highway access points. Combining stable tenancy, strong income and a scenic riverfront setting That has never flooded, this property represents a rare and valuable long-term investment opportunity.
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts Under Contract
| Price | $6,500,000 | Apartment Style | Low-Rise |
| Price Per Unit | $101,563 | Building Class | C |
| Sale Type | Investment | Lot Size | 9.29 AC |
| Cap Rate | 7.04% | Building Size | 2,548 SF |
| No. Units | 64 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 1 |
| Property Subtype | Manufactured Housing/Mobile Home | Year Built | 1963 |
| Zoning | R-5 | ||
| Price | $6,500,000 |
| Price Per Unit | $101,563 |
| Sale Type | Investment |
| Cap Rate | 7.04% |
| No. Units | 64 |
| Property Type | Multifamily |
| Property Subtype | Manufactured Housing/Mobile Home |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 9.29 AC |
| Building Size | 2,548 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1963 |
| Zoning | R-5 |
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Property Taxes
| Parcel Number | 280835-003-041-00 | Total Assessment | $4,115,000 (2025) |
| Land Assessment | $315,500 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $3,799,500 (2025) | Tax Year | 2024 |
Property Taxes
Parcel Number
280835-003-041-00
Land Assessment
$315,500 (2025)
Improvements Assessment
$3,799,500 (2025)
Total Assessment
$4,115,000 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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Wallace River Mobile Home Park | 36010 State Route 2
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