128-Space Mobile Home Community in Oroville, Calif. Sells for $15MM

Northmarq, Sacramento Valley, Olive Hill, Oroville

LOS ANGELES, CALIFORNIA – Jeff Benson, managing director, and Sam Neumark, senior vice president of Northmarq’s Los Angeles investment sales office, secured the $15 million sale of Olive Hill. The 128-space mobile home community is located at 2921 Wyandotte Avenue, Oroville, California.

“The buyer and seller performed excellently throughout this transaction, with the buyer’s motivation stemming from the high quality of the asset and synergies within the Oroville market. The ultimate sale price, at $117,187 per pad, is indicative of the fact that the manufactured housing sector continues to demonstrate resilience throughout all market environments,” said Neumark.

Olive Hill mobile housing is situated in Oroville, California, home to the Feather River in the Sierra Nevada Foothills within the Northern Sacramento Valley. The age restricted, senior community features unique amenities including a billiard room, library, laundry facilities, swimming pool, clubhouse, and boat/RV storage. There are monthly planned social activities offered to residents with an accessible on-site staff and sales office.

About Northmarq

As a capital markets leader, Northmarq offers commercial real estate investors access to experts in debt, equity, investment sales and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of $33 billion, loan servicing portfolio of more than $76 billion and the multi-year tenure of our more than 700 people. 

West Coast Commercial Real Estate News