3475 Cherry Ave NE - Manufactured Housing/Mobile Housing FOR SALE


Keizer, OR 97303
$1,237,000 USD
360-546-3341
3475 Cherry Ave NE, Keizer, OR for Sale
$1,237,000 USD
Manufactured Housing/Mobile Housing - FOR SALE
1/1
null | 7.56% Cap Rate

3475 Cherry Ave NE
Keizer, OR 97303


HIGHLIGHTS

  • Manufactured housing and RV community offered for sale
  • 14 total income-producing sites
  • Approximately 0.81-acre property
  • Convenient access to Interstate 5
  • Located near the intersection of Cherry Avenue NE and Highway 99E
  • Located within the Salem-Keizer metropolitan area, one of Oregon's primary population centers

OVERVIEW

Cherry Court presents an opportunity to acquire a stabilized manufactured housing and recreational vehicle community in the heart of Keizer, Oregon, one of the most desirable suburban markets within the Salem metropolitan area. Offered at $1,237,000, the community consists of 14 income-producing sites situated on approximately 0.81 acres and benefits from strong occupancy fundamentals, proximity to major employment centers, and convenient access to Interstate 5. The property is comprised of six manufactured home spaces and eight recreational vehicle spaces, creating a diversified housing mix that serves a broad tenant base. Its central Keizer location places residents within minutes of Downtown Salem, major retail corridors, employment centers, restaurants, and everyday conveniences. The community's proximity to Salem Industrial Park and major transportation routes further enhances tenant demand and long-term occupancy stability. Cherry Court offers investors immediate cash flow with in-place rental income and projected first-year net operating income of approximately $93,492, equating to an estimated 7.56% cap rate based on the offering price. The property also benefits from projected rent growth and favorable demographic trends throughout the Salem-Keizer market. As affordable housing continues to experience strong demand across the Pacific Northwest, Cherry Court provides investors with the opportunity to acquire a well-located manufactured housing and RV community positioned within a supply-constrained housing market and supported by long-term demographic growth.

FOR SALE DETAILS

PRICE

$1,237,000 USD

PRICE/SF

$35 USD /SF

# OF UNITS

8

PRICE/UNIT

$154,625

CAP RATE

7.56%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Cherry Court

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Manufactured Housing/Mobile Housing

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1974

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

-

APN/PARCEL ID

525838

ASK ABOUT THIS PROPERTY

Erik HessSterling Properties Real Estate Services, LLCMore Info
360-546-3341

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Erik HessSterling Properties Real Estate Services, LLCMore Info
360-546-3341

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.