Henry
24 Etruria St, Seattle, WA, 98109-1766, US
100 units
Asset description
JLL, as the sole and exclusive agent, has been retained to offer the opportunity to acquire Erland Point (the “Property”), an 11.39-acre manufactured housing community and RV park located in Bremerton, WA. The offering consists of a community with 33 manufactured homes, 17 RV sites, and approximately 5 acres of excess developable land. The Property
is conveniently situated alongside Hwy 3, the primary north/south arterial connecting the Property to Downtown Bremerton, Silverdale, and the Olympic National Forest.
The demand for manufactured housing and RV parks continues to strengthen, as the availability of new supply remains limited due to challenges in obtaining the proper zoning and necessary entitlements. This asset class has demonstrated strong occupancy stability and rent growth. The compelling narrative of favorable investor returns and the growing need for affordable living options has continued to increase, positioning the asset class to be sought after by both private and institutional investors alike.
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Attributes
Units
50
Occupancy
98%
Land area gross
4.61 ha
Zoning
Rural Residential (RR)
Media
Investment highlights
- Strong employment drivers
- Upside in developable excess land
- Clear path to revenue growth upside
- Attractive alternative asset class
- Convenient access with immediate connectivity
- High demand for affordable housing
- Cost effective travel and recreation
Contact brokers
Erland Point (0 Properties)
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Last updated
Sep 17, 2024
