Contact Information

Todd Fletcher
Newmark

Mobile Home Park Details

  • Price: Call for Price
  • Listing ID: 5722282
  • Posted On: May 14, 2024
  • Updated On: May 17, 2024

Description

– Rents appear to be well below market for all the properties and the current Owners are signing new move-ins at rents well above existing tenants. Ashlyn is signing at $55 per site per month higher, Simmons at $150 higher, Ashboro at $145 higher and Deborah at over $145 higher.
– Average lot rents across the portfolio are positioned favorably at $389 compared to $469 average across family communities. Increasing rents to market would add over $117,000 in additional annual revenue for a new owner.
– Properties consist of almost all tenant owned homes. There are only 10 current park owned homes of which 8 are occupied as pure rental or
a lease-to-own structure.
– The properties are offered as a package and need to be sold together.
– Within a 10-mile radius of each community, the average household income across the portfolio is $75,962 with average home values at $251,589. Given the strong demographics, there is an incredible amount of demand for affordable housing in these markets.
– All of the communities are located within close proximity of each other and major metro areas, allowing a new owner to immediately benefit from economies of scale and management efficiencies, and making it extremely time and cost efficient to run the portfolio.

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Park Information

Community Type: All Age
Number of MH Lots: 123
Average MH Lot Rent: $389
Size: 58 acre(s)

Utility Information

Water: City
Water Paid By: Tenant - Submetered
Sewer: City

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