Hillcrest Mobile Home Park_Property for Sale
Hillcrest Mobile Home Park_Property for Sale
23 NW Depot Rd, Madras, OR, 97741-9201, US

Hillcrest Mobile Home Park

Asset Description

JLL, as the exclusive advisor, is pleased to present the opportunity to acquire Hillcrest Mobile Home Park (the “Property”), a 100% occupied, 62-unit manufactured housing and RV community situated on a 7.14-acre parcel in Madras, Oregon. The offering consists of a community with 62 pads, including 49 manufactured home sites, 11 RV sites, and 2 single-family homes. The Property is conveniently located alongside HWY 97, the primary north/south arterial connecting Madras to the greater Central Oregon area. The Property provides much-needed workforce housing, offering residents a plethora of nearby recreation options while being situated among everyday necessities.


The Property has demonstrated stabile occupancy and year-over-year rent growth. With the lack of new supply, and increased in-migration, the Property is well positioned for significant rent upside. 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.

...

Attributes

Asking price
£2,911,000
Occupancy
100%
Number of units
62 units
Land area gross
7.14 acres
Parcel
10883
Zoning
Industrial (I)

Media

Investment Highlights

  • Significant growth in Central Oregon
  • Attractive alternative asset class
  • Upside in excess developable land
  • Access to amenities and lifestyle destinations
  • High demand for affordable housing
Hillcrest Mobile Home Park 4_Property for Sale
Hillcrest Mobile Home Park 4_Property for Sale

Contact brokers

Hillcrest Mobile Home Park (0 Properties)

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. Email us today to see how we can help achieve your ambitions.
Last updated
31 May 2024