9427 Case Rd SW

Take advantage of this exceptional investment opportunity with the Olympia 2-Unit Mobile Home Park on 1.3 acres, including self-storage facilities, all for just $269,990. Priced to sell and ready for a quick two-week close, this property is located at 9427 Case Rd SW, Olympia. The parcel, with an APN/Tax ID of 127-22-120501, offers significant potential, with an after-repair value (ARV) of $425,000.

The property includes a 1985 Redman New Moon mobile home and a 1970 Fleetwood Greenhill mobile home, both of which were previously rented for $2,100 and $1,800 per month respectively. Additionally, the large shop generated $800 in rental income. Utilities were previously covered by tenants. The zoning permits storage and maintenance facilities, including RV and boat storage, with parking areas available next to each mobile home.

The exit strategy involves holding the property while collecting rent from both mobile homes, the large shop, and storage units. There is ample land for additional rental opportunities, including RV and boat storage. The plan includes enhancing the mobile homes to increase rent, followed by refinancing or selling. Rehab is estimated to take 1-3 months, depending on the speed of renovations, with repair costs for landscaping, the large shop, and mobile homes ranging from $20,000 to $30,000. One septic tank needs pumping, which will be covered by the homeowner.

What's included in the sale:

Smaller Manufactured Home: 1970 Redman New Moon (with $15,000 in repair costs)
Larger Manufactured Home: 1985 Fleetwood Greenhill (with $15,000 in repair costs)
Large Shop
Large Storage Building
Small Storage Sheds
Expansion Potential

Please note, the 1985 Greenhill mobile home has been title eliminated, while the 1970 New Moon has not. A requirement has been set that the 1970 model will be excluded from policy coverage if not title eliminated by closing. For more information or to proceed with the purchase, please review Line 5 and 6 in the affidavit document, which allows the buyer to retain the property with a letter to the county.

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