Contact Information

Anja Jauregui
Jones Lang LaSalle

Mobile Home Park Details

  • Price: $6,200,000
  • Listing ID: 6154747
  • Posted On: Jun 6, 2024
  • Updated On: Jun 13, 2024

Description

JLL, as the exclusive advisor, is pleased to offer the opportunity to acquire Olga Dor Court (the “Property”), a 100% occupied senior (55+) community located in Tacoma, Washington. The offering consists of 48 manufactured housing pads and 1 single family residence. On-site average rents are currently $675 per month
with a planned $100 increase in July. Rent includes water service with sewer, electricity and trash collection billed back to residents. The Property is conveniently situated alongside Highway 7, connecting the Property to Downtown Tacoma and the greater Seattle metropolitan area.

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.

Location

Tacoma, located between Seattle and Olympia, enjoys a prime location in Washington State. It offers close proximity to SeaTac Airport, ranked 8th in the U.S. for passenger activity. As a port city, Tacoma ranks as the second largest city in the Puget Sound region and the third largest in the state. Its central position relative to major employers in the area makes it an attractive destination for both blue-collar and professional services workers. In recent years, Tacoma has experienced remarkable growth, driven by its proximity to key regional employers such as the Port of Tacoma and Joint Base Lewis-McChord, as well as the substantial investment of over $1 billion in its downtown area alone. Residents are drawn to Tacoma for its affordable living options, stunning parks and outdoor spaces, and vibrant community.

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Park Information

Community Type: 55 And Over
Number of MH Lots: 48
Total Occupancy: 100.0 %
Average MH Lot Rent: $675
Size: 5 acre(s)

Utility Information

Water: City
Water Paid By: Park
Sewer: City

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