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- LoopNet Team
2010 Broadway Ave
Hoquiam, WA 98550
Broadway Manor MHC · Land For Sale
·
11.11 AC
INVESTMENT HIGHLIGHTS
- Potential for an additional 17 homes presents value-add potential through infill and lease -up
- Located within close proximity to the Grays Harbor National Wildlife Refuge
- The Property presents an attractive value-add opportunity with its current below-market rents compared to nearby parks, offering significant potential
- Lack of affordable housing creates a supply/demand imbalance, positioning the Property favorably
PROPERTY FACTS
| Property Type | Land | Total Lot Size | 11.11 AC |
| Property Subtype | Residential | ||
| Zoning | R-2 - High Density Residential | ||
| Property Type | Land |
| Property Subtype | Residential |
| Total Lot Size | 11.11 AC |
| Zoning | R-2 - High Density Residential |
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.
