10239 185th Ave SW, Rochester, WA 98579

Northmarq is pleased to present the opportunity to acquire Tanglewood Mobile Home Park, a well-maintained sixty-one (61) space manufactured housing community located in Rochester, Washington, just outside Olympia - one of the fastest-growing housing markets in the country.

The community is predominantly comprised of double-wide homes, with all but one (1) home tenant-owned, providing a stable, low-maintenance operating profile. Utilities are serviced via a private septic system and a well operated by the local water association, with the seller not responsible for water treatment or distribution.

Tanglewood is offered at $5,450,000, underwritten with a 35.90% expense ratio, and provides an in-place cap rate of 5.39% based on current operations. Investors may also have the opportunity to assume the existing agency financing (see data room for additional details).

The property offers multiple, straightforward value-add opportunities, including:

• Rent growth: Average in-place rents of $621 remain meaningfully below local market comparables averaging approximately $733. Washington currently permits annual rent increases of up to 5%.

• Occupancy upside: One (1) existing vacancy provides immediate NOI growth through

lease-up. The economic outlook for Rochester and the greater Olympia market remains strong. Average home values in Rochester are approximately $501,018, reinforcing the affordability gap that continues to support demand for manufactured housing. Washington consistently ranks among the nation’s strongest housing markets, with a diverse employment base driven by key industries including technology and aerospace, healthcare and services,

tourism, and timber/forestry.