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Listed by Lara Ramsay • Amplify Real Estate Services
$ 771,000
Est. payment | /mo
1.03 Acres Lot
$ 771,000
Est. payment | /mo
1.03 Acres Lot
Key Details
Property Type Multi-Family
Sub Type Rental
Listing Status Pending
Purchase Type For Sale
MLS Listing ID 202519511
Annual Tax Amount $1,742
Lot Size 1.030 Acres
Lot Dimensions 1.03
Property Sub-Type Rental
Property Description
Excellent MH park investment opportunity offering a 12.3% CAP rate from 9 income-producing units, with room to add a 10th. Current gross income is $10,310/month, with projected 2025 NOI over $90K and potential for growth. Located just minutes from Loon Lake and 30 minutes to North Spokane, this quiet, nicely treed setting feels private while offering easy access from the main road. Each home includes a shed, yard and ample parking, and tenants enjoy public water/sewer and a peaceful community feel. Most tenants are long-term with low turnover, and on-time payments. Recent improvements include two fully remodeled units, several others with major updates, and most have had ducts cleaned and sealed for energy efficiency. The open 10th site offers potential for an additional rental, on-site manager's unit, or shop. Seller has been updating units before filling vacancies. Do not visit or disturb tenants. Showings by appt after mutual acceptance.
Location
State WA
County Stevens
Rooms
Basement None
Interior
Appliance Range, Dishwasher, Refrigerator, Microwave
Exterior
Parking Features Off Site
Amenities Available None
View Y/N true
Roof Type Metal
Building
Lot Description Many Trees, Level
Story 1
Structure Type Steel Frame,Vinyl Siding,Siding
Schools
Elementary Schools Springdale
Middle Schools Springdale
High Schools Mary Walker
School District Springdale
Others
Acceptable Financing Conventional, Cash, Owner Financing
Listing Terms Conventional, Cash, Owner Financing