Contact Information

Anja Jauregui

Jones Lang LaSalle

CONTACT BROKER

Price: Call for Price
Listing ID: 6842246
Posted On: Mar 12, 2025
Updated On: Mar 12, 2025

Description

JLL, as an exclusive advisor, is pleased to present the opportunity to acquire Broadway Manor (the "Property"), a 11.1-acre living community located in Hoquiam, WA. The offering consists of a manufactured housing community with 44 sites conveniently located next to downtown Hoquiam, which hosts popular local restaurants and has a Grocery Outlet, Home Depot, and the Harbor Regional Health Emergency Department nearby. In the adjacent town of Aberdeen, there is a Safeway, Rite Aid, and Walmart Supercenter.

This value-add opportunity features an asset currently at 61% occupancy, presenting significant upside potential through targeted lease- up initiatives and infill development. There is potential to infill an additional 17 homes, which would generate $80,580 in annual revenue based on current rents. Broadway Manor commands strong rental revenue given the superior coastline lifestyle and limited housing supply.

Location

Hoquiam WA

Located on the scenic Washington coast, Hoquiam offers a charming blend of natural beauty and community spirit. With the Grays Harbor National Wildlife Refuge adjacent to the woodlands, Hoquiam is an outdoor enthusiast's paradise. Numerous hiking trails carve through the harbor shores, providing beautiful views of the wildlife and scenery. Every spring, many travelers visit Hoquiam for the Grays Harbor Shorebird and Nature Festival as thousands of shorebirds stop to rest in the estuary during their spring migration, with some birds migrating from as far south as Argentina. With easy access to nearby beaches, hiking trails, and recreational activities, Hoquiam offers an exceptional quality of life for those seeking a peaceful yet adventurous coastal lifestyle.

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