AGM is pleased to announce the acquisition of the 33-unit mobile home park in Maltby, Washington (Country Manor).
The 174,000 SF site is zoned light industrial and features level topography. It is strategically located in the burgeoning Maltby industrial area with excellent access to nearby State Route 522. The value proposition improves annually as multi-acre industrial sites throughout the Eastside disappear, making the few remaining sites more valuable.
$1.3 million in equity was raised to acquire the $4,050,000 park. During our 5-year hold, the 33 units will provide for a 6% plus cash return at acquisition, which increases annually with the tenant’s increasing rents. We closed in November 2022, providing for:
A significant 2022 accelerated depreciation of $800,000 through cost segregation
Strong cash-on-cash returns starting at 6% and increasing to 10% during our hold
A low-risk investment with seller financing and 33 tenants
Significant value appreciation through development or light industrial yard space rentals
For more information on this current offer or other investment opportunities contact AGM Capital.