50 Davis St | Presque Isle, ME 04769
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- LoopNet Team
50 Davis St
Presque Isle, ME 04769
Presque Isle Mobile Home Community · Multifamily Property For Sale
·
34,995 SF
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.
Property Facts
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+0 | 85 | - | - |
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
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