NorCal MHC Portfolio 3 Multifamily Properties Offered at $12,862,866 CAD in Multiple Locations

CBRE’s National Manufactured Housing & RV Specialty Practice is pleased to present the Northern CA MHC Portfolio, a rare opportunity to acquire three well-positioned manufactured housing communities totaling 112 sites across the Northern California markets of Yuba City, Chico, and Oroville. Offered at an asking price of $9,250,000 ($82,589/site), this portfolio represents a compelling acquisition with meaningful rent growth potential, operational upside, and the scale benefits of a three-community platform. The sellers preference is to sell all three communities together but will consider offers for Harmony MHC on a one-off basis (Gumtree & Orolake must be sold together).
The portfolio currently operates at a strong 91% occupancy with potential to grow by filling vacancies at Orolake MHC. Rent increase notices have been delivered at all three parks, going into effect in May 2026 for an immediate increase of revenue for a new buyer with average MH site rents of +/-$668.
The portfolio benefits from public water and sewer across two of the three communities (Harmony MHC on Septic), a majority of resident-owned homes, and recent capital improvements including sewer and water line replacements, road repaving, tree removal, and landscape beautification — reducing near-term deferred maintenance risk for an incoming buyer. The geographic proximity of the three parks, ranging from 25 to 55 minutes apart, creates meaningful shared staffing opportunities that can optimize operational efficiency and compress management costs relative to standalone acquisitions.
The portfolio’s tenant base is highly stable. Resident-owned homes represent the overwhelming majority of occupied sites, anchoring tenants to their communities and producing the low-turnover, low-capital-intensity operating profile that makes manufactured housing communities among the most resilient asset classes in commercial real estate. Gumtree MHP in Yuba City is +/-98% occupied, Harmony MHP in Chico is 100% occupied, and Orolake MHP in Oroville presents the most direct upside — currently at +/-71% occupancy with a value-add lease-up story supported by a cell tower lease providing $19,200 in annual ancillary income with 2% annual escalations.
The three communities sit within the broader Sacramento Valley, one of California’s most resilient regional economies. The greater Sacramento MSA is home to over 2.4 million residents, with population projected to grow 4.3% over the next five years, supported by 2.3% year-over-year job growth and a workforce heavily concentrated in recession-resistant sectors including healthcare, public administration, and education.
Each submarket offers its own demand drivers. Yuba City, located approximately 45 miles north of Sacramento, benefits from a cost of living nearly 24% below the California average, a fertile agricultural economy anchored by major employers including Sunsweet Growers and Sutter North Medical, and steady population growth projected at 7.5% over five years — dynamics that sustain strong demand for affordable housing alternatives. Chico’s economy is underpinned by California State University, Chico and Enloe Medical Center, the region’s largest employer with approximately 4,000 employees, providing a stable renter base of academic professionals, healthcare workers, and students. Oroville, as the county seat of Butte County, serves as an economic and services hub for the surrounding foothills region, with the Oroville Dam and Lake Oroville driving both hydroelectric employment and outdoor recreation tourism that supports local housing demand year-round.
Across all three locations, housing affordability constraints continue to push renter households toward manufactured housing as the most accessible form of non-subsidized shelter in California — a structural tailwind that underpins both occupancy stability and the portfolio’s long-term rent growth trajectory.