3020 E College Way - Skagit Valley Mobile Manor

Skagit Valley offers 172 manufactured home lots which are connected to public water and sewer. It was constructed in 1986 and 1992 and has never been for sale. The lots are 100 percent occupied and have remained so in recent history. There is an RV storage area and a community trash collection shed is located near the exit in the southwest corner of the community. There are large grass open space common areas and overhead streetlights. The property has an estimated 560 feet of frontage along the east side of N. 30th Street, and it is located about 750 feet south of E. College Way, a main east/west arterial. Photos of Skagit Valley are attached.
Rents
Rents range from $665.73 to $690.73 per month, with the tenants paying an additional charge each month for water, sewer and trash removal. Rents will increase by $50 beginning October 2024 as each lease is renewed over the next 12 months.
Financials
Skagit Valley’s projected NOI is $1.185 million, on $1.825 million in revenues and $640,039 in expenses (35% of revenues).
Invitation to Offer
There is a DropBox of due diligence records that are available for review upon signing of a Nondisclosure Agreement. The family is inviting offers until September 30, 2024 subject to the resident’s statutory opportunity to compete.
If you would like to view the DropBox of due diligence records upon signing of a Nondisclosure Agreement, let me know and I will send you a DocuSign to review/sign.