Contact Information

Anja Jauregui

Jones Lang LaSalle

CONTACT BROKER

Price: $5,500,000
Listing ID: 5560505
Posted On: May 9, 2024
Updated On: Jun 12, 2024

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.

Location

Kitsap County, offers residents a desirable combination of natural beauty, economic opportunities, and a strong sense of community. With its proximity to employment hubs like Seattle and a variety of major employers within the county itself, Kitsap County provides a favorable environment for both professionals and families. The area’s median home prices are relatively affordable compared to nearby metropolitan areas, making it an attractive destination for individuals looking for housing options that fit their budget. Kitsap County is renowned for its recreational opportunities, including hiking, biking, boating, and fishing, thanks to its picturesque landscapes encompassing forests, mountains, and waterways. The county also hosts numerous parks, golf courses, and cultural venues, adding to its appeal. Whether you’re seeking a thriving job market, affordable housing, outdoor adventures, or a vibrant arts community, Kitsap County offers an exceptional quality of life for residents and a promising investment market for those looking to capitalize on its diverse offerings.

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