17106 153rd Ave SE - Manufactured Housing/Mobile Housing FOR SALE


Yelm, WA 98597
$4,500,000 USD
503-502-1752
17106 153rd Ave SE, Yelm, WA for Sale
$4,500,000 USD
Manufactured Housing/Mobile Housing - FOR SALE
1/45
null | 6.28% Cap Rate

17106 153rd Ave SE
Yelm, WA 98597


OVERVIEW

Lake Lawrence MHP operates primarily as a tenant-owned home (TOH) community, with 39 occupied resident-owned homes and three vacant park-owned homes currently in transition. Recent rent adjustments have positioned most existing residents in the $800 range, demonstrating strong market acceptance, while new move-ins could support $900–$1,000 monthly rents. Current occupancy is 93%, with vacancies limited to the transitioning park-owned units. The community’s mature landscaping, wide sites, and park-like setting foster resident pride and long-term retention. The vacant park-owned homes include two which are being replaced with new single-wides prior to close. The remaining park-owned home has served as an office in the past. The current owner plans on selling all three of these homes to tenants before closing. This opportunity combines the stability of a well-operated community with the upside potential of strategic expansion for buyers interested in development, all within a market characterized by strong demand fundamentals and limited supply. For investors focused on current income, the property operates as a turn-key investment ready to generate stable cash flow for years to come.

FOR SALE DETAILS

PRICE

$4,500,000 USD

PRICE/SF

$47 USD /SF

# OF UNITS

42

PRICE/UNIT

$107,143

CAP RATE

6.28%

% LEASED

93%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Lake Lawrence Mobile Home Park

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Manufactured Housing/Mobile Housing

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1987

PARKING SPACES

-

LAND DETAILS

LAND ACRES

22.2 AC

LAND SF

967,032 SF

ZONING

C

APN/PARCEL ID

22617430300,22617430900,99900811300,99900816300

ASK ABOUT THIS PROPERTY

Rand HoffmanKidder MathewsMore Info
503-502-1752

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Rand HoffmanKidder MathewsMore Info
503-502-1752

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