Download Offering Materials: Red Bird MHP
Capstone Manufactured Housing is pleased to present Red Bird MHP consisting of 19 sites in Springfield, Oregon. Situated just across from Eugene, Oregon, which is home to the University of Oregon, the city of Springfield has seen positive population growth since 2020. This increase has pushed the median home prices upwards of $400,000, and the Cost of Living trumps the U.S. average by more than 5%. This has led to an increased demand for affordable housing options, and currently the average rent for a studio apartment in Eugene is over $800. This positions Red Bird as a favorable option, as their lot rents are over $200 less than the direct market competition. Along with the significant upside in rents, there is an opportunity to bill back water, sewer, and trash expenses, as the community is currently covering all utility costs for their residents. Additionally, the community is currently 100% occupied and consists of all resident owned homes with one stick-built structure on site which doubles as two separate income producing units. This offering presents investors with an opportunity to acquire a well-located asset with upside opportunities.
Stabilized turn-key asset
Below market rents
Need for affordable housing the immediate metro area
Public utilities with an opportunity to bill back water, sewer & trash expenses
Majority all resident owned homes