Rogue Valley Village
3761 South Pacific Highway, Medford, OR, 97501, US
SEK 35,692,000 | 76 units
Asset Description
JLL, as an exclusive advisor, is pleased to present the opportunity to acquire Edgewater Estates (the "Property"), a 4.75-acre manufactured housing community situated in Blaine, Washington. The offering consists of one contiguous parcel with 47 total sites, currently 89% occupied. Nestled in the scenic coastal region of Washington State, Birch Bay is a thriving community that presents a unique investment opportunity in the manufactured housing market, combining serene surroundings with strong demand for affordable, quality living options.
This asset has shown consistent occupancy stability and year-over-year rent growth. Future developers have the opportunity to take advantage of the existing zoning that permits condo or residential developments. A for-sale condo product would likely attract weekend visitors, summer residents, second-home buyers, retirees, and Bellingham commuters seeking more affordable housing options with over 430 ft. of private beach frontage.
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Attributes
Number of units
47
Occupancy
89%
Land area gross
1.92 ha
Asking price
SEK 35,088,000
Media
Investment Highlights
· 89% total physical occupancy
· Average in-place rents of $645 present room for positive rental growth
· Situated on public utilities
· Lack of affordable housing creates a supply/demand imbalance, positioning the Property favorably
· Flexible zoning allows for repositioning into condo/residential townhomes
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Edgewater Estates (0 Properties)
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Last updated
31 Jan 2025
