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Olympia,WA 98506
Key Details
Property Type Commercial
Sub Type Commercial Industrial
Listing Status Active
Purchase Type For Sale
Subdivision Olympia
MLS Listing ID 2433504
Style 72 - Mobile Home Park
Year Built 1965
Annual Tax Amount $6,430
Lot Size 0.751 Acres
Property Sub-Type Commercial Industrial
Property Description
Rare opportunity to own a fully occupied, seller-owned 8-unit mobile home park in Olympia, delivering an impressive 8.91% cap rate and strong in-place cash flow. Devoe Mobile Park produces $138,128 in annual NOI and $160,800 in gross income, making it one of the highest-yielding portfolios in Thurston County! Includes 1 single-family home and 7 mobile homes, plus 11 storage sheds, a 2-car garage, coin-operated laundry, and a vintage root cellar under one unit all with onsite management. Private and quiet, but near main corridor in a high-demand rental market. This asset offers both immediate income and long-term potential. Strong historical occupancy, minimal operating costs, and clear upside — Devoe checks every box for the savvy investor.
Location
State WA
County Thurston
Area 447 - Olympia North
Interior
Flooring Laminate,Vinyl
Exterior
Exterior Feature Metal/Vinyl,Wood,Wood Products
Roof Type Composition
Building
Sewer Septic Tank
Water Public
Others
Acceptable Financing Cash Out,Conventional,See Remarks
Listing Terms Cash Out,Conventional,See Remarks