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Active
MHP/MHC
315 N F St, Prescott, WA 99348, USA
$1,400,000
Prescott Mobile Estates
Property Description
This 28-space mobile home park is located in the rural community of Prescott, Washington, and offers consistent cash flow with minimal day-to-day management. The property is connected to city water, which is paid by the owner, while tenants who choose to irrigate lawns or gardens are individually metered and billed for excess usage. Wastewater is handled by eight well-maintained septic systems, eliminating sewer utility costs and keeping operating expenses low. Tenants are also responsible for their own garbage service. The park currently has 26 occupied spaces and two vacancies. It is home to long-term, reliable tenants who are current on rent and require very little oversight. An on-site tenant serves as an assistant manager, helping maintain the property and deliver notices when needed. The current owner has operated the park for 15 years, steadily improving occupancy through strategic infill and hands-on stewardship. The property has operated smoothly and efficiently throughout that time, making it a stable, low-maintenance investment opportunity in a steady rental market.
Investment Highlights
• Strong In-Place Income: 26 of 28 spaces currently occupied, with reliable, long-term tenants and
consistent rent collections.
• Attractive 8% Cap Rate: Strong return in today’s market with upside potential from lease-up of
remaining two vacancies.
• Low Operating Costs: Park operates on city water and individual septic systems — no sewer bill and
limited utility overhead.
• Stabilized Asset with Upside: Significant occupancy growth achieved under current ownership
through infill and home sales; remaining spaces offer continued opportunity.
• Hands-Off Management: On-site assistant manager handles notices and basic oversight, reducing
time burden on ownership.
• Long-Term Ownership: Owned and operated by the same group for 15 years, with a track record of
maintenance and tenant stability.
• Affordable Housing Demand: Positioned in an area with limited affordable housing options and
consistent demand from agricultural and service-sector tenants.
• Rural, Low-Turnover Market: Located in a quiet, stable town with limited new housing supply and
historically low vacancy.
• Proximity to Walla Walla: Just 25 minutes from Walla Walla — a regional center for employment,
healthcare, and education — expanding the tenant pool while preserving affordability.
Listed By
Wyatt Minor
Senior Investment Advisor, MHP
(206) 274-7007
(208) 309-2561
