Arizona MHC, RV Portfolio Changes Ownership

A Marcus & Millichap team closed the $2 million sale of Star Valley and C-Bar Diamond communities located in Payson.
Star Valley MHP, C-Bar Diamond MHP. Image via Google Maps

Star Valley Manufactured Housing Property and C-Bar Diamond Manufactured Housing Property in Payson, Ariz., have changed hands for $2 million. The 66-unit portfolio comprises both manufactured housing and RV spaces. The transaction was seller-financed.

Located at 3758 and 3760 E. highway 260, the properties are close to several other manufactured housing communities; roughly 4 miles from a Walmart Supercenter and other shops and restaurants; and less than 2 miles from the Chaparral Pines Trailhead. Additionally, the assets are situated some 94 miles from downtown Phoenix. The manufactured homes and RV spaces were fully occupied at the time of sale, and the homes were all tenant-owned.     

A team from Marcus & Millichap’s manufactured housing group closed the deal. Recently, another team from the same brokerage company represented the buyer in the $7.3 million sale of Emerald Coast Estates. The 79-site manufactured housing community in Brookings, Ore., was completed in 2003.