Winthrop Lakes Estate is a 55 and older park that is licensed for 43 lots, and all lots are completely developed. The park is serviced with Public Water and Public Sewer, and the Town of Winthrop mails the bills directly to each tenant. The Sewer Department sends one bill to the owner quarterly, and he sends a bill to each tenant quarterly. The lots are large and very private. The lot rent should be increased, and a new owner could purchase one home at a time or 5 homes at a time, set them up, and sell them. There are no reasons why a new owner couldn’t make $10,000 profit on each home. There are numerous potential for this park! You can’t develop a park like this one at the selling price.
Contingent upon the seller being able to complete a 1031 Exchange upon sale