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Address is Bates Street Millinocket, ME 04462

Dot Fernald

The Dot Fernald Team,Inc.

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Kelley Mobile Home Park

Manufactured Home Community for Sale in Millinocket, Maine

Bates Street
Millinocket, ME 04462

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Sale Price: $695,000

Contact Information

Dot Fernald
The Dot Fernald Team,Inc.

Mobile Home Park for Sale

Number of MH Lots: 100
Size: 32 acre(s)
Cap Rate: 12.0%
Purchase Method: Cash
Status: Sale Pending
Property ID: 456222
Posted on: Jun 20, 2014
Updated on: Feb 18, 2017
Price: $695,000

Property Description

The Park consists of 100 existing pads, and is license with the State of Maine for 140 sites. There are 32 +/ - acres of land for future development.  It consists of public water and public sewer, paved driveways, and paved roads.  The park has 12 mobile homes that are included in the sale. There are 37 vacant pads that could be rented immediately, for potential future revenue. Lot 298 is a double wide that is an owned home that the seller utilizes as his office, and could easily be rented for $600.00 per month. The park is in excellent condition and is being managed by the owner. Beautiful Park for the money!!!

Park Information

Number of MH Lots:100
Total Occupancy:63.0%
Year Built:1960
Size:32.0 acre(s)

Financial Information

Gross Income$165,600
Operating Expense$84,081
Net Operating Income$81,081
Expense Ratio 50.8%
Debt Info

RV Information

Number of RV Lots:0

Utility Information

Water Paid By: Park

Park-Owned Homes

Number of Park-owned Homes:12