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6993 SE Road U 20 Unit Mobile Home Park $850,000 ($42,500/Unit) 8.13% Cap Rate Warden, WA 98857
Executive Summary
Elm Grove Mobile Home Park is a 20-space community in Warden, WA. The property is ~95% occupied with reliable collections and operating expenses running at roughly 20% of income, making it a very efficient park to own. Current average rents of about $340/month remain well below nearby communities ($498–$695/month), creating a clear path for steady rent growth over time, within the limits of Washington’s HB 1217.
The current owner is offering attractive seller financing at 5% interest, 30-year amortization, 20 year term, and is open to negotiating the down payment. This structure gives buyers a chance to step into strong cash flow with built-in rent growth potential, while also securing favorable debt terms.
At today’s operations, Elm Grove is producing an in-place yield near 8.13%, which is materially higher than most comparable sales across Washington and Oregon.
The current owner is offering attractive seller financing at 5% interest, 30-year amortization, 20 year term, and is open to negotiating the down payment. This structure gives buyers a chance to step into strong cash flow with built-in rent growth potential, while also securing favorable debt terms.
At today’s operations, Elm Grove is producing an in-place yield near 8.13%, which is materially higher than most comparable sales across Washington and Oregon.
Property Facts
| Price | $850,000 | Building Class | C |
| Price Per Unit | $42,500 | Lot Size | 5.70 AC |
| Sale Type | Investment | Building Size | 248,292 SF |
| Cap Rate | 8.13% | Average Occupancy | 100% |
| No. Units | 20 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1960 |
| Property Subtype | Manufactured Housing/Mobile Home |
| Price | $850,000 |
| Price Per Unit | $42,500 |
| Sale Type | Investment |
| Cap Rate | 8.13% |
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Manufactured Housing/Mobile Home |
| Building Class | C |
| Lot Size | 5.70 AC |
| Building Size | 248,292 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1960 |
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Property Taxes
| Parcel Number | 181033000 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $107,503 |
Property Taxes
Parcel Number
181033000
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$107,503
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