Powell Heights Mobile Home Park 7520 Nootka St, Powell River, BC
Property Detail
Property Description
Location & Description:
Powell Heights Mobile Home Park is in Electoral Area B in rural Powell River, BC and consists of 20 mobile home pads and situated on 62 rural acres. Area B: Covers the area southeast of the city boundary to Whalen Road and includes Paradise Valley. Located 1 km from city limits.
Zoning:
Zoned Mobile Home & Residential. Not in the ALR.
Allows land use parcels of minimum (1) one hectare or 2.5 acres. See bylaw 321 below.
Expansion and Subdivision:
The 20-pad park takes up 3+/- acres and the remaining 59 acres is being subdivided. 100% of the land is usable with no waterways of interference. The Seller is in the process of subdividing the 62-acre parcel into 5 titles. Four (4) x 2 ½ acre lots with the remaining land as one (1) title which includes the current 20 pad mobile home park. Expected completion date for rezoning to be between June 2022 and June 2023.
Upon the sale of the entire parcel(s) the Purchase Agreement will state the Seller will lease back one of the 2.5 acre/1 hectare lots (Lot 1 on plan below) which has on it some storage buildings for a lease rate of $1500/month. Upon successful completion of the subdivision the Buyer will agree to sell back this same subject (2.5 acre/1 hectare) lot at a price of $350,000. All closing costs for this one lot will be at the Sellers cost. Seller is also willing keep back/exclude all 4 x 2.5 acres lots thereby reducing the price by $1,400,000.
Valuation of total parcels:
1) 20 pad Park = $1,000,000 on 3+/- acres.
2) 4 x (2.5 acre/1 hectare) lots @ 350,000 each = $1,400,000 (after subdivision is completed)
3) Remaining 49+/- acres x 50,000/acre = $2,450,000
4) Total market value = $4,850,000
Management:
Owner is self-managing the park with one part-time helper.
Services:
Water is provided by 2 wells of which only one is needed. Both have a 6” steel casing to a depth of 415 and 433 feet and each provide more than 50 gallons per minute. Water samples are tested monthly, and all results have been excellent.
Sewage is provided by 2 main septic tanks with distribution fields. Pumped clean August 2021
Natural gas, hydro, cable TV and garbage pickup (reduced rate as of 2022) is also provided.
Ferry Service to Powell River:
From Horseshoe Bay ferry terminal in North Vancouver, you take the ferry to Langdale then a 1 ½ drive to Earls Cove, then a short ferry ride to Powell River. Total travel time of 4 hrs.
Regional District of Powell River website: https://www.qathet.ca/
