47 Mountain View Park dr - Manufactured Housing/Mobile Housing FOR SALE


Johnson, VT 05656
$1,250,000 USD
919-674-1123
47 Mountain View Park dr, Johnson, VT for Sale
$1,250,000 USD
Manufactured Housing/Mobile Housing - FOR SALE
1/5
null | 8.96% Cap Rate

47 Mountain View Park dr
Johnson, VT 05656


OVERVIEW

The Esterson MHC Team is pleased to present Mountain View MHP, located in Johnson, VT (Lamoille County), a 100% occupied, cash-flowing manufactured housing community consisting of 33 tenant owned homes with upside in rents. Mountain View MHP is located in Lamoille County, VT and sits just under 30 miles from Burlington and approximately 15 miles from Stowe, one of Vermont's premier year round destinations. The area benefits from steady housing demand, limited inventory, and a constrained development pipeline typical of rural northern Vermont. Johnson is anchored by Northern Vermont University - Johnson and is supported by regional tourism tied to the Stowe Mountain Resort corridor, contributing to a stable local economy and year-round population base. Manufactured housing in this region serves a broad demographic including local workforce households, retirees, and residents priced out of the broader housing and rental market. Lamoille County continues to experience a widening affordability gap, with 2-bedroom apartment rents typically ranging from $1,400-$1,700/month and 3- bedroom rents ranging from $1,800-$2,200/month. Average home value ranges from $350,000-$425,000 in Johnson and Lamoille County, while median household income is approximately $70,000. These dynamics continue to support strong demand for manufactured housing as one of the most attainable forms of housing in the region. With limited supply of affordable housing, rising homeownership barriers, and a regulatory environment that restricts new park development, Mountain View MHP offers investors a cash flowing, stabilized opportunity with attainable upside through rent increases alone. Mountain View MHP is 100% occupied, consisting of 33 total lots with 33 tenant owned homes (TOH). Lot rent for the TOHs averages $403/month. Mountain View MHP is serviced by private well and septic (landlord pays, included in rent). Trash is curbside and directly billed to tenants. Electric, gas/propane, and cable are all tenant-paid via direct bill. Landlord mows commons, is responsible for snow plowing, and maintains the private road. The park is not in a flood zone and is not in an opportunity zone. Mountain View MHP is being offered at a purchase price of $1,250,000 reflecting an 8.96% cap rate on in-place operations (P&L 1). The mark-to-market 10.7% cap rate, reflecting full occupancy at market rents, translates to a potential upside value of $1,672,437 at an 8.0% exit cap. Investors may achieve meaningful upside by gradually increasing rents toward market levels. All offers should include price, inspection timeline, terms, proof of funds, due diligence requirements, and relevant real estate experience.

FOR SALE DETAILS

PRICE

$1,250,000 USD

PRICE/SF

$379 USD /SF

# OF UNITS

33

PRICE/UNIT

$37,879

CAP RATE

8.96%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Mountain View MHP

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Manufactured Housing/Mobile Housing

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1990

PARKING SPACES

-

LAND DETAILS

LAND ACRES

23.62 AC

LAND SF

1,028,728 SF

ZONING

-

APN/PARCEL ID

336-104-11515

ASK ABOUT THIS PROPERTY

Cole BurchillMarcus & MillichapMore Info
919-674-1123

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Cole BurchillMarcus & MillichapMore Info
919-674-1123

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.