Mobile Home Park Details
- Purchase Method: New Loan, Assumable Loan
- Cap Rate: 7.0%
- Listing ID: 1684001
- Posted On: Jun 4, 2022
- Updated On: Jul 13, 2022
Description
* 85 Licensed pads – ACTUAL 7 Cap, Price $1,650,000
* Enormous upside in rent roll
* Waiting list for Rental Homes
* Largest Park in Northern Maine/ Aroostook County
* Prime in town location near Walmart, Town Hall, Route 1, University
* 7 Owned homes
* Pads available from $200 per month
* Newly renovated Homes from $680 per month
* Very friendly community and supportive staff
* Conveniently located in largest City in Northern Maine
* Handy to Route 1, public transport, schools, downtown, hospital and restaurants
* Possible Assumable Loan
Location
* Absolute Prime Location in city of Presque Isle
* Easy access to Downtown, Schools, Shopping Center, Main St & A!
* Largest City North of Bangor
* Surrounding streets make the Park very accessible
* Walking distance to shops, Walmart, gas Station & restaurants
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 85 |
| Total Occupancy: | 50.5 % |
| Average MH Lot Rent: | $220 |
| Size: | 10 acre(s) |
Financial Information (Actual)
| Gross Income: | $225,300 |
| Operating Expense: | $107,882 |
| Net Operating Income: | $117,417 |
| Expense Ratio: | 47.9 % |
| Debt Info: | Assumable or new loan |
Lot Information
| Singlewide Lots: | 80 |
| Doublewide Lots: | 5 |
Utility Information
| Water: | City |
| Water Paid By: | Park |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 7 |
| Average Rent for Park-owned Homes: | $680 |