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Presque Isle Mobile Home Community 50 Davis St 85 Unit Mobile Home Park $1,450,000 ($17,059/Unit) Presque Isle, ME 04769
INVESTMENT HIGHLIGHTS
- There are 10 occupied and 11 vacant POH (21 total POH) which could be sold to tenants. Selling units would reduce OPEX and CAPEX expenditures
- Opportunity to increase rates beyond current rent roll average of $323/month for TOH to market.
- Renting homes could improve the time to lease-up and improve returns.
- Immediate upside from increasing occupancy from 45% to 58% by leasing the 11 vacant POH and then infilling the 36 vacant lots to achieve 95% occupancy
- Expense ratios will improve as infill drives revenue. This will lead to a substantial increase in yield.
- Public Water & Sewer, Implement utility billback to increase revenue per site and overall yield.
EXECUTIVE SUMMARY
Colliers Manufactured Housing & RV Group, as exclusive agent for the Owner, is pleased to offer the opportunity to acquire the 85-site Presque Isle Mobile Home Community, an ideally-located affordable housing opportunity in Presque Isle, Maine, the regional hub of Northern Maine. With strong agricultural roots, a growing healthcare and education sector, and strategic access to U.S. Route 1 and I-95, Presque Isle offers a prime investment opportunity in northern Maine.
The property is inclusive of 85 MH sites of which, 21 are park owned homes.
Presque Isle MHC provides investors with expertise in stabilization and operations a prime value-add opportunity.
The asking price for the park is $1,450,000.
The property is inclusive of 85 MH sites of which, 21 are park owned homes.
Presque Isle MHC provides investors with expertise in stabilization and operations a prime value-add opportunity.
The asking price for the park is $1,450,000.
DATA ROOM Click Here to Access
PROPERTY FACTS
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+0 | 85 | - | - |
1 1
PROPERTY TAXES
| Parcel Number | PREE-000044-000057-000050 | Improvements Assessment | $38,100 |
| Land Assessment | $515,800 | Total Assessment | $553,900 |
PROPERTY TAXES
Parcel Number
PREE-000044-000057-000050
Land Assessment
$515,800
Improvements Assessment
$38,100
Total Assessment
$553,900
CONTACTS
-
Mike Nissley -
Richard Knapp -
Amy Barrett -
Michael Cobb -
David Nissley -
Colliers Manufactured Housing & RV Group
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Presque Isle Mobile Home Community | 50 Davis St
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