HOUSTON, TX—Capstone Manufactured Housing has brokered the sale of an institutional 288-site manufactured housing community in Alvin, TX. Sun Meadows Mobile Home Community is located within the Houston MSA and is one of the premier affordable housing options in the market. The property benefits from attractive curb appeal, stable tenant base with 96% occupancy, direct-billed city utilities, and excellent location with frontage to Texas State Highway 35 and FM 528. Sun Meadows is poised for continued demand for the long-term future as the need for affordable housing rapidly increases throughout the Houston MSA.
Capstone’s Ian Hilpl, Kevan Enger, Brian Hummell, and Hunter LaRocca represented the seller and procured the buyer in the transaction.
“Sun Meadows was a unique opportunity as it is one of the few institutional manufactured housing communities in Houston that had not already been acquired by a professional operator. The property had been owned by the same family for over 30 years who were extremely hands on with operations and instrumental in delivering a high-quality product. With Capstone’s national platform and expertise in the asset class, we were able to deliver strong results for our client,” said Hilpl, the lead broker on the sale.