2916 River Rd E - Manufactured Housing/Mobile Housing FOR SALE


Tacoma, WA 98404- Waller | 
$3,250,000 USD
503-502-1752
2916 River Rd E, Tacoma, WA for Sale
$3,250,000 USD
Manufactured Housing/Mobile Housing - FOR SALE
1/5
null | 7.9% Cap Rate

2916 River Rd E
Tacoma, WA 98404
Waller


HIGHLIGHTS

  • STRONG, DURABLE DEMAND FOR AFFORDABLE HOUSING
  • SIMPLE, LOW-MAINTENANCE INFRASTRUCTURE
  • 41-UNIT RV PARK MINUTES FROM DOWNTOWN TACOMA

OVERVIEW

Current monthly rents of $965 include water, sewer, and shared WiFi, with tenants billed separately for electricity and garbage. This straightforward pricing structure resonates with cost-conscious residents and simplifies operations. The park has cultivated a quiet, family-oriented atmosphere supported by modest amenities, including a play structure and picnic areas. Recent operational improvements have addressed delinquency issues and significantly enhanced property condition. Historical profit and loss statements do not reflect the park's current stabilized trajectory. The current rent roll provides a far stronger foundation for underwriting future performance. Infrastructure is well-maintained and straightforward. The park benefits from a professionally serviced well system, a septic system that was upgraded in 2023, and underground electrical service provided by Tacoma Public Utilities. Demand fundamentals remain strong. The Tacoma and Puyallup corridor continues to experience a sustained need for attainable housing, and well managed long-term RV communities in the region consistently maintain high occupancy. For buyers seeking a cleaned-up, cash-flowing asset in a supply constrained market, Puyallup River RV Community represents a compelling opportunity. WHY WE LIKE THIS OPPORTUNITY RECENT OPERATIONAL TURNAROUND CREATES CLEAN STARTING POINT Ownership has addressed delinquency challenges and significantly improved property presentation and collections. Current rent roll performance is markedly stronger than trailing financials would suggest, meaning buyers will be underwriting to a stabilized operational baseline rather than a turnaround project. The physical condition of the park supports resident retention and positions the property for continued steady performance. SIMPLE, LOW-MAINTENANCE INFRASTRUCTURE Puyallup River RV Community benefits from straightforward utility systems that minimize operational friction. The top-of-the-line well system is professionally maintained by a third-party provider and operates reliably, and the septic system was upgraded in 2023. Electrical infrastructure is underground and serviced by Tacoma Public Utilities. This configuration reduces ongoing maintenance complexity and eliminates the risk profile that comes with aging or overly complex systems. STRONG, DURABLE DEMAND FOR AFFORDABLE HOUSING At $965 per month, Puyallup River RV Community offers an accessible price point in a region where rental housing costs have steadily increased and homeownership remains out of reach for many working households. Major nearby employers include the Port of Tacoma (one of the largest container ports in the United States), Emerald Queen Casino and Hotel, Costco Business Center, and the Tacoma Dome. These employment drivers support consistent demand for workforce housing within a reasonable commute radius. Long-term RV communities at this price point continue to see strong occupancy, particularly when well-maintained and professionally managed. FAMILY-ORIENTED POSITIONING WITH LIFESTYLE APPEAL The park has intentionally cultivated a small, friendly, and family-focused environment. Proximity to local outdoor amenities enhances resident appeal. Swan Creek Park provides walking and biking trails, community gardens, and upland forests, with additional parks and green spaces scattered throughout the surrounding area. The riverfront setting along the Puyallup River adds natural appeal and reinforces the park's positioning as a quiet, residential community. This positioning supports resident stability and long-term tenancy.

FOR SALE DETAILS

PRICE

$3,250,000 USD

PRICE/SF

$31 USD /SF

# OF UNITS

41

PRICE/UNIT

$79,268

CAP RATE

7.9%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Manufactured Housing/Mobile Housing

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1981

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2.44 AC

LAND SF

106,357 SF

ZONING

RSEP

APN/PARCEL ID

032011-3024,032011-3039,032011-3049

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.