Lewiston / Clarkston MHP Portfolio_Property for Sale
Lewiston / Clarkston MHP Portfolio_Property for Sale
Various locations

Lewiston / Clarkston MHP Portfolio

Portfolio description

JLL, as an exclusive advisor, has been retained to offer the opportunity to acquire the CMG 5 Pack (the “Portfolio”), consisting of 5 manufactured housing communities located in Clarkston, WA and Lewiston, ID. Each property is centrally located and together offer a total of 125 sites spread across 10.2 acres. This presents an opportunity to achieve scale within the market, allowing investors to establish a foothold immediately. The average in-place rents across the Portfolio amount to a monthly rate of $484, which offers value-add potential through infill and rental growth. With 86% occupancy, public utilities, and a stable but growing market with strong demand for affordable housing, this investment presents an excellent opportunity to create scale or enter the Clarkston/Lewiston market.


Clarkston, Washington shares close ties with Lewiston, Idaho, and the two cities together form a bustling twin cities region known as the “Banana Belt” of the Lewis Clark Valley. The immediate area boasts breathtaking natural beauty, with the confluence of the Clearwater and Snake Rivers nearby, providing residents with a high quality of life and abundant opportunities for outdoor recreation such as boating, fishing, paddleboarding, mountain biking, and hiking along riverside trails. The downtown area contributes to a welcoming small-town atmosphere with its local shops and restaurants, while also offering amenities typically found in larger cities, including an airport located in Lewiston and major big-box retailers such as Costco, Walmart, and Home Depot.

...

Attributes

Units
125
Occupancy
86%
Land area gross
4.05 ha
Lewiston / Clarkston MHP Portfolio (5 Properties)
Lewiston / Clarkston MHP Portfolio (5 Properties)

Media

Investment highlights

  • 86% total physical occupancy presents value-add upside in rents and infill
  • Opportunity to gain market-controlling scale and immediately enact management efficiency 
  • Average in-place rents of $484 present room for positive rental growth
  • All properties are situated on public water 
  • (Cherry Hill is the only property on Septic)
  • Separate tax parcels provide flexible exit scenarios and financing strategies 
  • Neither Washington nor Idaho have rent control restrictions 
  • Lack of affordable housing creates a supply/demand imbalance, positioning the Properties favorably
  • Nearby plenty of year-round recreation opportunities including hiking, fishing, boating, hunting, and golfing
Lewiston / Clarkston MHP Portfolio 4_Property for Sale
Lewiston / Clarkston MHP Portfolio 4_Property for Sale

Contact brokers

Similar properties

View moreChevron Right
Do you have any questions? Visit our FAQ page
View FAQ PageArrow Right
JLL can help you finance and manage your portfolio. E-Mail us today to see how we can help achieve your ambitions.
Last updated
Sep 12, 2024