Marcus & Millichap Brokers $58 Million Manufactured Housing Sale in Huntington Beach
August 26 2021 - 7:20PM
Business Wire
Marcus & Millichap (NYSE: MMI), a leading commercial real
estate brokerage firm specializing in investment sales, financing,
research and advisory services, announced today the sale of Skandia
Mobile Country Club, a 167-unit mobile home complex in Huntington
Beach, California. The property sold for $58 million, or $347,305
per space.
“Centrally located in beautiful Huntington Beach, Skandia Mobile
Country Club is a five-star manufactured housing community with 167
units, primarily consisting of double-wide spaces, which are all
tenant-owned homes,” said Jeff Benson, senior vice president
investments, Marcus & Millichap. “This property offered buyers
a rare opportunity to acquire a trophy asset in one of Southern
California’s most sought-after destinations.” Benson and Samuel
Neumark, senior associate, represented the seller, the Coulter
Family Trust, and procured the buyer, Investment Property
Group.
Built in 1963 on over 17 acres, Skandia Mobile Country Club
provides residents with access to a community pool, spa, game room
and clubhouse with a full kitchen. Along with living two miles from
the beach, tenants are in walking distance from Bella Terra outdoor
shopping mall, a downtown farmers market and popular bars and
restaurants.
“Given the impeccable quality of the property, coupled with the
strong Huntington Beach rental market, there is significant upside
opportunity for the new owner,” added Neumark. “Through a targeted
marketing campaign, we generated multiple offers creating a very
competitive bidding environment, giving the seller several viable
buyer options to choose from.”
About Marcus & Millichap (NYSE: MMI)
With over 2,000 investment sales and financing professionals
located throughout the United States and Canada, Marcus &
Millichap is a leading specialist in commercial real estate
investment sales, financing, research and advisory services.
Founded in 1971, the firm closed 8,954 transactions in 2020 with a
value of approximately $43 billion. Marcus & Millichap has
perfected a powerful system for marketing properties that combines
investment specialization, local market expertise, the industry’s
most comprehensive research, state-of-the-art technology, and
relationships with the largest pool of qualified investors. To
learn more, please visit: www.MarcusMillichap.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20210826005796/en/
Gina Relva, VP of Public Relations Marcus &
Millichap Gina.Relva@MarcusMillichap.com
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