Los Angeles MHC Sites Trade for $22M

Saunders Property Co. purchased a part of the 303 homes within Windward Village Community.
Windward Village Community. Image via Google Maps

Saunders Property Co. has acquired 102 of the 303 homes within Windward Village Community in Long Beach, Calif., for $21.6 million from private investors, public records show. The new owner financed the acquisition with a $15.5 million loan from Sunwest Bank.

Located at 3595 Santa Fe Ave., some 2 miles from the intersection of interstates 710 and 405, the property is situated within a dense residential area that includes several other manufactured housing communities. Additionally, the asset is almost 7 miles from the Port of Long Beach and roughly 20 miles south of downtown Los Angeles.

The gated community became a planned unit development in 2006, with homes ranging from two to four bedrooms and equipped with central AC, appliances and low to no maintenance yards. Common-area amenities include a sports court, club house, playground and outdoor cooking area.

Southern California has been struggling with a growing affordable housing crisis over the past few years. With affordable stock not keeping up with demand, manufactured housing is considered to be a viable solution to the affordability issue.