Meadowlark Estates is a 126-site, age-restricted manufactured housing community located at 2870 Lancaster Drive SE in Salem, Oregon. Established as a 55+ community in 1970, the property spans approximately 18.09 acres and features a primarily owner-occupied home base.

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The community is operating at near-full occupancy, with average in-place rent of $945 compared to average market rent of $1,455. This $348 monthly rent gap represents approximately 54% upside from current in-place rents, creating a meaningful mark-to-market opportunity as rents move toward prevailing market levels.