165 Cypress AveSnohomish, WA 98290

Property Details for 165 Cypress Ave

Year built

1970

Lot size

0.91 AC

Zone code

RD

Property type

Residential income properties

Property subtype

Mobile home & RV parks

APN

575900100100

APU

575900100100

Description

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.

Location Insight

City

Snohomish

County

Snohomish

State

Washington

Latitude

47.9117

Longitude

-122.085

CBSA code

42660

CBSA name

SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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