1383 Fair StClarkston, WA 99403

Property Details for 1383 Fair St

Lot size

3.52 AC

Property type

Hospitality properties

Property subtype

Multifamily properties

Description

This exceptional investment opportunity encompasses two manufactured housing communities strategically located in Clarkston, WA, and Lewiston, ID – the vibrant "Banana Belt" of the Lewis Clark Valley. The portfolio comprises a total of 57 sites spread across 3.52 acres, offering immediate scale and a strong foothold in a growing market. Currently operating at 75% occupancy, the properties boast an average monthly rent of $460, presenting significant value-add potential through rental growth and infill opportunities. Both locations benefit from public utilities and are situated in a region with robust demand for affordable housing, creating a favorable supply-demand imbalance. The properties are situated on separate tax parcels, providing flexible exit strategies and financing options. Neither Washington nor Idaho have rent control, further enhancing the investment's appeal. The area offers a high quality of life with abundant outdoor recreation opportunities, including boating, fishing, and hiking, along with convenient access to major retailers like Costco, Walmart, and Home Depot, and an airport in Lewiston. The strong NOI of $143,624 and a 7.30% cap rate make this a compelling investment prospect.

Location Insight

City

Clarkston

County

Asotin

State

Washington

Latitude

46.4211

Longitude

-117.063

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