Frontier Urban Village is an attractive, well-maintained 55+ manufactured housing community located in Clackamas, within the Portland MSA. The park benefits from intense demand for affordable housing, in a market where single-family homes cost $600,000+.
The park includes 58 total sites: 41 tenant-owned manufactured homes, 2 park-owned manufactured homes, 3 "stick built" single-family homes, and 12 vehicle storage spaces. The park is serviced by public water and sewer. The current owners have invested significant capital to upgrade the park, including a six figure repaving project, extensive renovations to bring one of the "stick built" homes up to code, new roofs on multiple buildings, and installing multiple new manufactured homes.
Most residents currently pay $865 lot rent. Scheduled rent increases in 2025 will bring most residents' lot rent to $951, further enhancing the property's income profile, and generating a roughly 6.0% cap rate in 2025 for the property's next owner.
Situated near Highway 205 and SE 82nd, Frontier Urban Village is an "urban village" for older adults because it is walking distance to retail stores (Fred Meyer, Dollar Tree), restaurants and coffee shops (Starbucks, Black Rock Coffee, Elmer's), public transportation, doctors' offices, and parks.
A buyer can expect a durable, growing income stream because of constant demand for affordable housing in this location.
Ashley Offensend
SMI Real Estate
