50 Davis St - Manufactured Housing/Mobile Housing FOR SALE


Presque Isle, ME 04769
$1,450,000 USD
770-933-8585
50 Davis St, Presque Isle, ME for Sale
$1,450,000 USD
Manufactured Housing/Mobile Housing - FOR SALE
1/69
null | Request Cap Rate

50 Davis St
Presque Isle, ME 04769


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
  • 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
  • Opportunity to increase rates beyond current rent roll average of $323/month for TOH to market.
  • Expense ratios will improve as infill drives revenue. This will lead to a substantial increase in yield.
  • Renting homes could improve the time to lease-up and improve returns.
  • Public Water & Sewer, Implement utility billback to increase revenue per site and overall yield.

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$1,450,000 USD

PRICE/SF

$41 USD /SF

# OF UNITS

85

PRICE/UNIT

$17,059

CAP RATE

Request Cap Rate

% LEASED

45%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Presque Isle Mobile Home Community

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Manufactured Housing/Mobile Housing

ADD'L SUBTYPES

Apartments, Dormitory

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1900

PARKING SPACES

2

LAND DETAILS

LAND ACRES

8.2 AC

LAND SF

357,192 SF

ZONING

URBAN

APN/PARCEL ID

PREE-000044-000057-000050

ASK ABOUT THIS PROPERTY

Mike NissleyColliers Manufactured Housing & RV GroupMore Info
770-933-8585

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

Mike NissleyColliers Manufactured Housing & RV GroupMore Info
770-933-8585

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