Case Study

Tierra Linda

Mobile Home Park • Hermiston, OR
Due to our experience providing workforce manufactured housing in tertiary markets like Herrmiston, we saw the opportunity in this off-market acquisition. Hermiston’s demand drivers include agriculture and logistics/distribution centers. After buying the property from the family that originally built the park, we implemented our full “value-add playbook,” including installing new homes, renovating in-place homes, and improving community safety with a new perimeter fence.

Unit Count
107

Acquisition Type
Value-add

Market Profile
Tertiary

Purchase Price
$3,800,000

Valuation Upon Refinancing
$5,340,000

Equity Multiple
1.8X

Resident Wins

New Perimeter Fence
New Signage
New Laundry Equipment
New Manufactured Homes

Investor Wins

27% IRR
1.8X Equity Multiple