Heritage Mobile Home Park
25 Unit Mobile Home Park | $2,600,000 ($104,000/Unit) | Port Orchard, WA 98366
For Sale
Active
- Date Added:
- September 16, 2024
- Days on Market:
- 2 days
Asking Price $2,600,000
- Property Type
-
Multifamily
- Square Feet
- 99,676 SF
Listing Contacts
Anja Jauregui
Verified Profile
Robert Nisbet
Verified Profile
- Property Info
Property Overview
JLL, as an exclusive advisor, is pleased to present the opportunity to acquire Heritage Mobile Home Park (the “Property”), a 5.49-acre manufactured housing community situated in Port Orchard, Washington. The offering consists of a community with 25 manufactured homes, currently 96% occupied. The Property is conveniently situated alongside Hwy 16, the primary north/south arterial connecting it to Port Orchard and Downtown Tacoma. Offering residents a plethora of nearby recreation options while being situated among everyday necessities.
This asset has demonstrated strong occupancy stability and year-over-year rent growth. Future owners stand to capitalize on significant rental upside, given the submarket’s strong in-migration and lack of new supply. Based on comparable market rents, near-term rent growth is accelerating due to the limited new supply resulting from challenges in obtaining the proper zoning and necessary entitlements for similar housing communities.
This asset has demonstrated strong occupancy stability and year-over-year rent growth. Future owners stand to capitalize on significant rental upside, given the submarket’s strong in-migration and lack of new supply. Based on comparable market rents, near-term rent growth is accelerating due to the limited new supply resulting from challenges in obtaining the proper zoning and necessary entitlements for similar housing communities.
Property Details
- Class
- C
- Year Built
- 2000
- Stories
- 1
- Property Subtype
- Manufactured Housing/Mobile Home
- Lot Size (sq. ft)
- 239,144 SF
- Units
- 25
Highlights
- Strong employment drivers
- Attractive alternative asset class
- Convenient access with immediate connectivity
- High demand for affordable housing
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