165 Cypress Ave Snohomish, WA 98290-3045

This exceptional 0.91-acre mobile home park in downtown Snohomish, WA, presents a compelling investment opportunity. The property, located at 165 Cypress Ave, boasts nine pads, all currently occupied (100% occupancy as of November 1, 2024). Built in 1968, the park features eight park-owned and one tenant-owned single-wide home. The property is served by city water and sewer. Its prime location offers easy access to local amenities including restaurants, businesses, parks, grocery stores, drug stores, schools, and public transit. Significant rental upside potential exists through market rent increases and the addition of ancillary income streams, such as laundry facilities. Furthermore, there's an opportunity to implement utility expense recapture. The Pilchuck Center zoning allows for substantial redevelopment potential, with the possibility of constructing a multi-story building (up to five stories with the purchase of Transfer of Development Rights credits). This property is ideal for investors seeking a value-add opportunity with strong potential for both short-term income generation and long-term capital appreciation. The property's APN is 00575900100100.