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February 25, 2024
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MULTIFAMILY NEWS
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Colorado Mobile Home Park Purchased for $3.13 Mil by The Yampa Valley Housing Authority

12/02/22

Whitehaven mobile home park, a 28-lot mobile home park in Steamboat Springs, CO, was purchased for $3.125 mil by The Yampa Valley Housing Authority on behalf of the residents of Whitehaven. The acquisition marks the second acquisition of its kind in the State of Colorado since the State Legislature passed HB22-1287 earlier this year.

Whitehaven is located at 2453 Lincoln Ave in Steamboat Springs, part of Routt County. The community is on public sewer and well water, with all tenant-owned homes. The property has easy access to US Highway 40 and is a vital source of affordable housing in a resort community with some of the most expensive housing stock in the State.

Jon Shay with CBRE Capital Markets in Denver represented the seller, Whitehaven LLC. Shay and CBRE also brokered the first sale of this kind in Colorado earlier this fall in Johnstown.

"Whitehaven attracted interest from investors across 17 states and received multiple offers above the asking price. With the dearth of affordable housing throughout the country, and especially in Colorado's resort areas, our team expected and fielded nationwide interest on this property. Ultimately, the residents of the community were able to meet the best offer received by the seller, and they moved with all deliberate speed towards a closing. By fully marketing the community, the seller was able to achieve a higher selling price with the resident group than they would have without multiple offers," said Shay.





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