8412 38th St E - Residential LAND FOR SALE


Edgewood, WA 98371 438,649 SF
$12,000,000 USD
8412 38th St E, Edgewood, WA for Sale
$12,000,000 USD
Residential LAND - FOR SALE
1/8
438,649 SF

8412 38th St E
Edgewood, WA 98371


HIGHLIGHTS

  • Filling The Critical Housing Gap: 7.1M Affordable Housing Unit Shortage
  • Discount to Alternative Housing Options
  • Resilient Asset Class with Strong Tailwinds
  • Durable In-Place Income

OVERVIEW

JLL, as the exclusive advisor, is pleased to present the opportunity to acquire Cherry Wood MHC, an all-age manufactured housing community located in Edgewood, WA. As part of the Washington 4-Pack Portfolio totaling 195 sites across Northwest and Central Washington, Cherry Wood MHC offers 84 sites with 95% occupancy, demonstrating consistent performance and resident stability. The community features average monthly lot rents of $945, providing attractive, market-supported income within a supply-constrained region. Residents benefit from a full range of utilities, including well water and on-site septic—both included—while electricity is billed directly through municipal service, and trash and cable are locally provided, ensuring operational efficiency and convenience. With its established tenancy, strong fundamentals, and desirable all-age setting in the growing Edgewood market, Cherry Wood MHC represents a compelling investment opportunity combining dependable cash flow, minimal management intensity, and meaningful exposure to Washington's expanding affordable housing sector.

FOR SALE DETAILS

PRICE

$12,000,000 USD

PRICE/ACRE

$1,191,658/AC

PRICE/SF

$27 USD /SF

# OF LOTS

-

LAND DETAILS

PROPERTY NAME

Cherry Wood Mobile Home Community

PROPERTY TYPE

Land

PROPERTY SUBTYPE

Residential

LAND PROPOSED USE

-

LAND ACRES

10.07 AC

LAND SF

438,649 SF

OFFSITE IMPROVEMENTS

-

ZONING

-

APN/PARCEL ID

-

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