Contact Information

Mobile Home Park Details

  • Price: $895,000
  • Cap Rate: 8.0%
  • Property ID: 916032
  • Posted On: Apr 4, 2018
  • Updated On: Aug 5, 2019

Property Description

The Park consists of 28 Pads with 40+/- acres, and the utilities are private well & septic, and the 3 Leach Fields were new in 2007. Paved roads throughout the park, and there are 18 Rented Lots and 2 Vacant Lots, 8 Owned Rented Mobile Homes, and Lot 3 is a duplex mobile home that are both rented. There is a Single Family Home that is also rented, and would be perfect if an owner wanted to live on site. The Seller was paying the oil for each owned homes and now 75% of the tenants are paying the oil! Seller will finance the park with $205,000 down payment for 20 years with a 5 year balloon at 5% interest. A great Opportunity!

Location

The park is 14 miles to Bangor, ME and 3.2 miles to I-95, and 2.6 miles from the University of Maine. It's in a terrific location!

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Park Information

Community Type: All Age
Number of MH Lots: 28
Total Occupancy: 90.0 %
Year Built: 1960
Size: 40.0 acre(s)

Financial Information (Actual)

Gross Income $157,716
Operating Expense $66,848
Net Operating Income $90,867
Expense Ratio 42.4 %
Debt Info

Lot Information

Singlewide Lots: 28

RV Information

Number of RV Lots: 0

Utility Information

Water: Well
Water Paid By: Park
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 8
Average Rent for Park-owned Homes: $750

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