Wabi Hill Mobile Home Park 3851 S, Highway 97, Chetwynd BC, V0C 1J0
Property Detail
Property Description
The park is well located in a stable town of Chetwynd, BC about 3 ½ hrs. north of Prince George, BC and 1hr 15 minutes south of Fort St. John, BC. Chetwynd has a very diversified and robust economy and vacancy rates for rentals is near zero. Rents in this park are well below market rents, therefore, each time a new tenant comes into the park the new rents will be substantially higher and likely above $325/mo. This is in addition to the annual allowable rent increases in BC.
The park is professionally managed by a local management company making it easy for any out-of-town owner to takeover this ‘turnkey’ operation. Management looks after new tenants, water testing, meter reading, any garbage removal and road maintenance or snow removal as required.
Park services are by way of 3 local wells for water. One (1) lagoon for sewage which is shared with a neighboring property thus reducing the cost of maintenance. The sewage is gravity fed to the lagoon, so no pumps are required. The park sits on 7.76+/- acres and consists of 17 fully serviced pads with zero (0) vacancies. Even though one (1) pad is vacant it has always been rented to one of the tenants for storage and parking. The 2400 sq. ft. house (20yrs of age) is currently rented on a one-year lease. Current rents are $239/month. Two pads are set at $300/month. The house is rented at $1900/month plus utilities on a yearly lease. There is also a small revenue stream from excess water billing. This has also reduced the overall water costs. The park provides water, sewer, garbage pickup, snow removal while the tenants pay for their own hydro and natural gas. There have been no vacancies for several years.
It should be noted that in the past 18 months there has been considerable improved to streamline the operations of the park. The 2400 sq. ft. house is an upper end, executive style 3-bedroom residence. The previous owner who was a building contractor built it for himself as his ‘dream home’. The house is set apart from the other mobile homes in a private setting. It boasts a 20’ vaulted ceiling and large master bedroom. Many additional renovations have recently been completed.
