Contact Information

Anja Jauregui

Jones Lang LaSalle

CONTACT BROKER

Price: $2,250,000
Listing ID: 6814780
Posted On: Jan 30, 2025
Updated On: Jan 30, 2025

Description

JLL, as an exclusive advisor, is pleased to present the opportunity to acquire Evergreen Mobile Estates (the "Property"), a 9.05-acre manufactured housing community situated in Montesano, Washington. The offering consists of 48 manufactured housing sites situated on public utilities, currently 96% occupied. The Property is conveniently situated alongside U.S. 12, the primary east/west arterial connecting it to the Pacific coast and offers convenient commuting to Olympia, the state capital and a major employment hub.

This asset has demonstrated strong occupancy stability and year-over-year rent growth. Future owners stand to capitalize on rental upside, given the area's stable year-over-year rental growth and lack of new supply. Based on comparable market rents, near-term rental growth is accelerated due to the limited new supply resulting from challenges in obtaining the proper zoning and necessary entitlements for similar housing communities.

Location

Located in southwestern Washington, offering residents a unique blend of coastal charm, natural beauty, and a rich cultural heritage. With its strategic position along the Pacific Ocean and proximity to major urban centers like Seattle and Portland, Grays Harbor County provides a balanced environment for both work and leisure. The area's median home prices are generally more affordable compared to larger metropolitan areas in the state, making it an attractive option for those seeking cost-effective housing solutions. Grays Harbor County is celebrated for its diverse recreational opportunities, including beachcombing, hiking in temperate rainforests, fishing, and wildlife viewing. The county's landscape, featuring rugged coastlines, lush forests, and winding rivers, provides a stunning backdrop for outdoor enthusiasts. Whether you're looking for a laid-back coastal lifestyle, opportunities in traditional industries like timber and fishing, or a base for exploring the natural wonders of the Pacific Northwest, Grays Harbor County offers a distinctive quality of life for residents and a potentially rewarding market for those interested in its evolving economic landscape.

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