114 Burma Rd - Manufactured Housing/Mobile Housing FOR SALE


Castle Rock, WA 98611
$4,525,000 USD
541-821-3668
114 Burma Rd, Castle Rock, WA for Sale
$4,525,000 USD
Manufactured Housing/Mobile Housing - FOR SALE
1/15
null | 7.2% Cap Rate

114 Burma Rd
Castle Rock, WA 98611


HIGHLIGHTS

  • More than $300,000 spent for recent remodeling and upgrade
  • Prime of Ownership: No deferred maintenance
  • Extended Stay: 98% full all year less than 2% vancay factor stable revenue stream
  • Easy on and off from Exit 52 of Interstate 5 across the way from newer Space Age Travel Center
  • Value Added more units to about 20 units; Lease out front commercial building to 3rd party for more income
  • Suggested future purchasing of SFR next to northerly border and southerly acreage for additional more units

OVERVIEW

Paradise Cove Resort & RV Park: 99% of customers stay for long-term resulting mobile home rules applies. 50 pads (another 10 pads can be added) on 2.74 acres in a beautiful tree-lines quiet and peaceful setting. One Park owned double wide mobile home on site. Ten pads can be added on the seldom used camping area for additional revenue. A separate building housing a well water filtration system for the best clean water for the residents. A separate building housing the men and women restroom with shower stall. The roads at the park are paved. Another remodeled building with laundry room (park owned four washers and four dryers $2 per use). Hot showers for man and woman: woman: 2 handicapped stalls and 3 regular stalls. Man: 1 handicapped 2 regular stalls. Storage room and maintenance room for tools and equipment. Maintenance team (couple) on site. Due to mobile home rules applies, each unit has park provided fire distinguishers. All utilities are provided by owner. Electric meters should be installed for each unit for occupants to pay its own electric bills to lower operating expenses for new owner. Many monthly rent to be $635 per owner after increases for 2025. Separate tax lot 1.36 acres with a 1,356 SF commercial building frontage on Burma Road remodeled like new now 1/3 used for office with remaining 2/1 living unit. It can be leased for $2,750 a month triple net lease to third party user by relocating the office to the double wide mobile home at the park. Two bedrooms living unit with modern new kitchen amenities next to office area. Large pole sign towards the front of the building. Custom built shed back of the building. The park has been continuously remodeled and upgraded throughout the years to a ‘newer’ and pleasant living environment. A modern septic system has been recently installed. Propane tank adjacent to the laundry building for hot water for showers and laundry. The park is across the way from a very busy newer ‘Space Age Travel Center’ off the same exit 52 of Interstate 5. The travel center is a very modern fuel station for cars and semi-trucks, fast food and retail shopping. Another separate tax lot 0.41 acre with one single family home currently rented for $900 a month (rent below market). It can be owner unit for buyer. Sell as a whole 3 parcels together. Part time manager on site. A couple living on site as maintenance team for the park. Approx. $160,000 spent in recent year for septic system upgrade. Over $100,000 spent on shower room laundry room remodeling for users and other improvements. There is NO deferred maintenance. Residents or users enjoy easy on and off exit 52 of Interstate 5. Property is across the way from the recently built very busy ‘Space Age Travel Center’ for travelers and semi trucks for fuels, A&W Burgers and shopping. Owner enjoys great cash flow (full most of the time) with minimum management and less expenses throughout the years with little headache as compared to apartment investment. The property is of pride of ownership! Seller can carry financing with minimum 1.5 million down interest, term and conditions mutually agreed as installment sale for qualified buyer. One of the best investment properties for IRC1031 to exchange into. Contact Broker for detail 16 pages information package. DO NOT DISTURB any resident or management on the property a must. Viewing or touring must be accompanied by Broker a must. Detail 16 pages information package available. Co- list with Eric Young

FOR SALE DETAILS

PRICE

$4,525,000 USD

PRICE/SF

$1,131 USD /SF

# OF UNITS

50

PRICE/UNIT

$90,500

CAP RATE

7.2%

% LEASED

98%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Paradise Cove Resort & RV Park Extended Stay

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Manufactured Housing/Mobile Housing

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2000

PARKING SPACES

-

LAND DETAILS

LAND ACRES

4.51 AC

LAND SF

196,456 SF

ZONING

unzoned

APN/PARCEL ID

WK2707013, WK2707019, WK2707018

ASK ABOUT THIS PROPERTY

Madison BordnerCall It Closed International RealtyMore Info
541-821-3668

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Madison BordnerCall It Closed International RealtyMore Info
541-821-3668

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.