Case Study
Tulare Royal Palms
Manufactured Housing Community • Tulare, CA
We purchased this age-restricted community off-market in 2019 through one of our close relationships in the manufactured housing industry. It featured a compelling amenities package for residents (including a swimming pool, clubhouse, and lending library), and was located within walking distance of parks, retail centers, and healthcare facilities. After implementing our value-add plan, we exited the investment in 2021, selling the community to a national manufactured housing community operator which we hold in high regard.
Unit Count
96 lots
Acquisition Type
Value-add
Market Profile
Suburban
Purchase Price
$5,500,000
Sale Price
$10,200,000
Equity Multiple
2.3X
Resident Wins
New Signage
New Manufactured Homes
Resident Social Program
Investor Wins
