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Northeast Maine MHC Portfolio 3 Multifamily Properties Offered at $3,500,000 in Multiple Locations
INVESTMENT HIGHLIGHTS
- The Northeast Maine MHC portfolio offers in place cash-flow with significant room for upside through occupancy and rate increases.
- More than $2.7 million in infrastructure improvements over the last 2 years, with emphasis on water and sewer line replacements.
- Caribou & Salmon MHC are located within 15 minutes of each other and Houlton is just 60 miles south providing an efficient management opportunity.
- Currently occupied sites are on average 13%+ below market rents.
- Infilling additional homes will drive significant revenue expansion while driving down the expense ratio.
- Salmon Brook MHC is located in an opportunity zone which adds upside in the supply constrained market of Northern Maine.
EXECUTIVE SUMMARY
Colliers Manufactured Housing & RV Group, serving as the exclusive agent for the Owner, is pleased to offer the opportunity to acquire the 117-unit, 3-park Northeast Maine MHC Portfolio, a well-located affordable housing opportunity situated in Aroostook County, along the Maine & New Brunswick, Canada border. The MHC’s are all in an opportunity zone which adds upside in the supply-constrained market of Northern Maine. See below for NEW detailed investment highlights.
Northeast Maine MHC portfolio offers a rare combination of close-proximity communities with in-place cash flow, significant infill potential, and POH tax advantages positioning it for long-term value creation.
The portfolio consists of three well-maintained, all-age communities, Houlton, Caribou Stream and Salmon Brook MHC each offering a compelling investment opportunity with spacious lots, newly rehabbed homes and strong on-site management team providing immediate upside through infilling homes, leasing and raising rates. Salmon Brook MHC is located in an opportunity zone which adds upside in the supply constrained market of Northern Maine. Updated financials and new photos are now available.
The Asking Price for the portfolio is $3,500,000 ($29,900/site). This represents a 7.85% cap rate on Year 1.
Northeast Maine MHC portfolio offers a rare combination of close-proximity communities with in-place cash flow, significant infill potential, and POH tax advantages positioning it for long-term value creation.
The portfolio consists of three well-maintained, all-age communities, Houlton, Caribou Stream and Salmon Brook MHC each offering a compelling investment opportunity with spacious lots, newly rehabbed homes and strong on-site management team providing immediate upside through infilling homes, leasing and raising rates. Salmon Brook MHC is located in an opportunity zone which adds upside in the supply constrained market of Northern Maine. Updated financials and new photos are now available.
The Asking Price for the portfolio is $3,500,000 ($29,900/site). This represents a 7.85% cap rate on Year 1.
DATA ROOM Click Here to Access
- Offering Memorandum
- Operating and Financials
PROPERTY FACTS
| Price | $3,500,000 | Number of Properties | 3 |
| Price / SF | $141.64 / SF | Individually For Sale | 0 |
| Sale Type | Investment or Owner User | Total Building Size | 24,711 SF |
| Status | Active | Total Land Area | 36.40 AC |
| Price | $3,500,000 |
| Price / SF | $141.64 / SF |
| Sale Type | Investment or Owner User |
| Status | Active |
| Number of Properties | 3 |
| Individually For Sale | 0 |
| Total Building Size | 24,711 SF |
| Total Land Area | 36.40 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
|
Caribou Stream Mobile Home Park
320 Washburn St, Caribou, ME 04736 |
Multifamily | 13,600 SF | 1919 | - |
|
Houlton Mobile Home Park
89 Old Woodstock Rd, Houlton, ME 04730 |
Multifamily | 1,111 SF | 1955 | - |
|
Salmon Brook Mobile Home Park
41 Brookside Cir, Washburn, ME 04786 |
Multifamily | 10,000 SF | - | - |
CONTACTS
-
Mike Nissley -
Amy Barrett -
David Nissley -
Michael Cobb -
Colliers Manufactured Housing & RV Group
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Northeast Maine MHC Portfolio
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