Contact Information
Anja Jauregui
Jones Lang LaSalle
Mobile Home Park Details
- Price: $3,195,000
- Listing ID: 6814792
- Posted On: Jan 30, 2025
- Updated On: Jan 30, 2025
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.
Location
Bellingham, the economic heart of Whatcom County, is experiencing remarkable growth and development. As one of Washington's fastest-growing areas, Bellingham's expansion is creating ripple effects throughout the region, including its desirable suburbs like Birch Bay. This growth is part of a larger trend, with Whatcom County consistently ranking among the state's fastest-growing counties. The Bellingham metropolitan area offers a unique blend of urban amenities and natural beauty, attracting a diverse influx of residents and businesses. Its strategic location, bordering Canada and situated between the Cascade Mountains and the Salish Sea, further enhances its appeal. While housing costs in Bellingham proper have risen, its suburbs like Birch Bay offer relative affordability without sacrificing access to the region's robust job market, outdoor recreational opportunities, and cultural offerings. As Bellingham continues to thrive, its suburbs are poised to benefit from the spillover effects of this economic vitality, making them increasingly attractive for both residents and investors.
Park Information
| Number of MH Lots: | 47 |
| Total Occupancy: | 89.0 % |
| Average MH Lot Rent: | $645 |
| Size: | 5 acre(s) |
Financial Information
| Net Operating Income: | $193,789 |
Lot Information
| Doublewide Lots: | 32 |
RV Information
| Number of RV Lots: | 15 |
Utility Information
| Water: | City |
| Water Paid By: | Park |
| Sewer: | City |
