Multi-Residential & Mobile Park, Trail
Two buildings consisting of 12 rental units (Built in est. 1960). 13 mobile home pads, 5 RV pads. Annual revenues $196k+ and 9% Cap rate! Great investment for a absentee owner.
| Description | Mutli-residential & Mobile park. Great location backing onto the Columbia river. | We have owned the property for seven years and are absentee owners. We try to visit the property once a year and have a onsite property manager. This model has worked successfully for us. |
| Revenue | 196,000 | In the past it has operated as a Motel and revenue has been high as $230k/annual. We are absentee owners and prefer long-term rentals. Although we do accept short term rentals on occasion. Majority of rent is collected through pre-authorized payments. |
| Cap rate: | 8.99% | This include the following expenses: utilities, repair/maintenance, insurance, property taxes, garbage removal and property manager. It excludes one-time capital expenditure and debt service. |
| Monthly rental rate: 12 unit building | $800 | Consists of two buildings built in 1960 Est. Approx. 6000 sq ft. – 10 units are 1 bedroom w/kitchens, 1 unit is without a kitchen and has double beds. 1 unit is a 3 bed two story. Rooms are furnished with TV, table, couch, bed etc. There is a small workshop as well that we do not rent. |
| Monthly rental rate: Mobile Home pads | $400 | We provide city water and sewer only. 13 Mobile pads. All mobile homes are tenant owned. Mobile pads are 55+. |
| Monthly Rental rate: RV pads | $600 | We provide water, sewer and electricity (30amp.) 5 RV pads. |
| Low Vacancy rates | Typically we have experienced 1 building room, 1 RV pad, 0 mobile pad vacant on a annual basis. Trail has a good economic outlook and typically it is not difficult to find tenants. We have not had any mobile pads vacant. | |
| Annual Property taxes | 7530 | |
| Corporate sale | property is owned by 668564 BC Ltd | Our preference is for a corporate sale / share sale. |
Date Posted:
Region:
Trail, Rossland & area
Price: SOLD
Opportunity Types:
Address
3080 Highway Drive, Trail, BC, V1R3G3
