FOR SALE. Whitewater Mobile Home Park 3245 Paris Street, Penticton, BC. 93 Mobile Home Pads with an average lot size of 5,040 SF

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Pearl Gaines
6 years ago
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76 acres located in the Skaha Village neighbourhood, just 5 minutes

1 FOR SALE 3245 Paris Street, Penticton, BC PROPERTY DETAILS: 93 Mobile Home Pads with an average lot size of 5,040 SF acres located in the Skaha Village neighbourhood, just 5 minutes from Downtown Penticton Priced at only $116,129 per pad 5% CAP Rate Macdonald Realty Kelowna

FOR SALE 3245 Paris Street, Penticton, BC HM Commercial Group is pleased to present this outstanding opportunity for Whitewater Mobile Home Park, a 93 pad mobile home park located in the Skaha

2 FOR SALE 3245 Paris Street, Penticton, BC HM Commercial Group is pleased to present this outstanding opportunity for Whitewater Mobile Home Park, a 93 pad mobile home park located in the Skaha Village neighbourhood of beautiful Penticton, BC. This family-oriented park is located on a acre parcel in close proximity to shopping, schools, parks, and recreational activities. consists of 93 home pads fully serviced with municipal water and sewer, with an average lot size of 5,040 square feet. Some of the major highlights of this investment include: 93 home pads acre site Excellent Penticton location Within 1 kilometer of Skaha Lake and 5 kilometers to Okanagan Lake Easy Access to Highway 97 Within a 5 minute drive to Downtown Penticton Full city services Long term development potential PRICE: $10,800,000 2

3 PROPERTY DETAILS CIVIC ADDRESS LEGAL DESCRIPTION 3245 Paris Street, Penticton, BC Lot 4, Plan 43502, District Lot 189 & 372, Similkameen Division of Yale District PID # OF PADS 93 LAND AREA ZONING (CURRENT) acres RM3 3

AERIAL MAP is located one block from Skaha Lake Road, which turns into Main Street and is the major arterial north to south road through Penticton.

4 AERIAL MAP is located one block from Skaha Lake Road, which turns into Main Street and is the major arterial north to south road through Penticton. The park benefits from all the amenities of the City of Penticton, including shopping, schools, parks, and recreational facilities. Peachtree Mall, and Wal-Mart are a few blocks away, as is Cherry Lane Shopping Centre, with Save-On-Foods, London Drugs and The Bay. Penticton is the gateway to the Southern Okanagan region in the interior of British Columbia. The city is surrounded by two fresh water lakes and gentle rolling mountains, making it an inspiring four season destination for a variety of outdoor recreational activities. Deemed the most attractive climate of all the cities in Canada by Environmental Canada, the city of Penticton is a popular vacation and retirement location for both British Columbians and Albertans. 4

5 SITE PLAN 5

6 FINANCIALS Stabilized & Annualized (2017) Monthly Income Annualized (1) 699,262 RTB Increase (3.7% for 2017) 25,873 Total Gross Income 725,135 Stabilized & Annualized (2016) Fiscal Year Ended (Aug 31,2015) $ $ 665,011 $ 601,386 $ $ 14,630 $ 12,028 $ $ 679,641 $ 613,414 Operating Expenses Insurance (Actual ) $ 6,147 $ 6,301 $ 6,301 Office and Miscellaneous (Actual) $ 2,100 $ 1,933 $ 940 Caretaker (Stabilized) $ 26,000 $ 26,000 $ 43,675 Property Taxes (Actual 2016) $ 50,981 $ 47,693 $ 47,693 Repairs and Maintenance (Actual) $ 22,686 $ 38,267 $ 38,267 Utilities (Actual) $ 55,874 $ 45,482 $ 45,482 $ 163,788 $ 165,676 $ 182,358 Projected Net income $ 561,347 $ 493,531 $ 416,031 Expenses as a % of Gross 22.6% 24.4% 29.7% Expenses per pad $ 1,761 $ 1,781 $ 1,961 # of Pads Asking Price $ 10,800,000 Price per pad $ 116,129 Cap Rate 5.2% 5.0% 3.9% Average Rent / Pad (1) $ $ $ Notes (1) New rents shown for (2) Expenses assume they remain the same, except Property Taxes 6

7 RENT ROLL Unit # Rent/Mth Unit # Rent/Mth Unit # Rent/Mth 10 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ SubTotal $ 10, $ $ $ $ TOTALS 34 $ $ per Mth $ 58, $ $ per Ann $ 699, $ $ # of Pads $ $ $ $ $ $ $ $ NOTES 41 $ $ $ $ $ $ $ $ $ 1, $ $ $ $ $ $ $ $ $ $ $ $ $ SubTotal $ 24, SubTotal $ 23, (10-49) (50-89) Vendor owns #45 ($1,000/mth Rent, only pad rent shown) 7

8 THE SMALL PRINT This document/ has been prepared by HM Commercial Group for advertising and general information only and makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. HM Commercial Group excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of HM Commercial Group and /or its licensor(s). HM Commercial Group is a team of Real Estate Professionals licensed with MacDonald Realty Kelowna. This property is co-listed with Cushman Wakefield Ltd. 8

9 HM Commercial Group is a boutique commercial real estate team that specializes in investment properties, land for development, and leasing. Our targeted focus provides us with detailed knowledge of market conditions, as well as key relationships with wealthy investors, institutions, and REIT s. Over the past few years we have sold over a Quarter of a Billion dollars in transactions. WE DO THINGS DIFFERENTLY AND IT WORKS. CONTACT US: JEFF HUDSON* / MARSHALL MCANERNEY* HM Commercial Group Macdonald Realty Kelowna Phone: info@hmcommercial.com Macdonald Realty Kelowna DON DUNCAN* / CHRIS DRIVER* Cushman Wakefield - Capital Markets Group Phone: / donald.duncan@ca.cushwake.com chris.driver@ca.cushwake.com Cushman & Wakefield *Personal Real Estate Corporation

The Canadian Retail Real Estate Market

The Canadian Retail Real Estate Market Presented at: 2013 Land & Development Conference Presented by: John G. Crombie National Retail Director Cushman & Wakefield Ltd. john.crombie@ca.cushwake.com 416-756-5448