MHC Listings Rundown 06/12/2024
Listings Rundown - Summary Updates
Marcus and Millichap - Removed 6 listings
Yale - Removed 1 listing.
MHP Brokerage - Added 1 | Removed 2 listing.
Sunstone - Added 1 | Removed 1 listing.
Cooper Cardinal - Added 1 listing.
Berkadia - Removed 2 listings.
COLLIERS
Vista Del Rio MHC, Vancouver WA - Broker: Alex Cheng
Price: Unpriced | # Sites: 213 | 33.83 Acres
Community amenities include: a clubhouse, pool, community garden, RV & boat storage, green spaces
Mobile Village, Portland OR - Broker: Alex Cheng
Price: Unpriced | # Sites: 86
Portfolio of 5 Mobile Homes, Garden City ID - Broker: Aaron Flynn, Bryant Jones
Price: $325,000 | 0.38 Acres
Colliers currently has some high-quality private MH listings and multiple RV listings. Contact Mike Nissley for more information on private listings (+1 561 479 1588).
WISELY COMMERCIAL REALTY
Vance Village, Fort Wayne IN - Broker: Adam McNeil
Price: $599,000 | Price per Site: $54,455 | Cap Rate: 9.54 | # Sites: 11 | 0.60 Acres
Located in the thriving Allen County
City Water & City Sewer
Seller Financing Available
Third Party Management In-Place
Country Square Estates, Columbia City IN - Broker: Adam McNeil
Price: $699,000 | Price per Site: $19,971 | Cap Rate: 8.14% & 15.03% | # Sites: 35 | 7.5 Acres
Stable Community with Opportunity to Raise Rents
City Water & City Sewer, that is direct billed to residents by the municipality.
Opportunity to Fill Vacant Sites & Inventory Homes
MARCUS & MILLICHAP
The Little Mobile Home Park, Kingston OK - Broker: Skyler Henderson, Brad Dorsey
Price: $1,725,000 | Price per Site: 30,263 | Cap Rate: 9.99% | # Sites: 57 | 5.18 Acres
Operates on City Water and Sewer
Located in an Opportunity Zone
Halfway Point Between Dallas and Oklahoma City
6 Miles from Chickasaw Golf Course and West Bay Casino
10 Minutes from the Hard Rock Hotel Development Project Which is Expected to Create Over 9,000 Jobs
Alexis Place MHP, Semmes AL - Broker of Record: Eddie Greenhalgh
# Sites: 103 | 16.40 Acres
Turn-Key Stabilized Asset
92% Occupancy
Strong Demand For Affordable Housing
400 Mobile Estates, Santa Paula CA - Broker: Dustin B. Wilmer, Dpuglas A. Danny, Rick Gordon
# Sites: 165 | 9.68 Acres
First Time Ever On-Market
165 MH Sites | 20 Site Approved Expansion
City Water & Sewer
1735 N Rancho Dr, Las Vegas NV - Broker: Drew Holden, Dustin B. Wilmer
Price: $3,090,000 | Price per Site: $154,500 | Cap Rate: 5.99% | # Sites: 20 | 21.28 Acres
14 MH Sites comprised of 5 Tenant- Owned Homes and 9 Brand New Park- Owned Manufactured Homes
6 Multi-Family Units with 1 Bedroom Floor Plans
Within 0.5-Mile of a 73 Acre Mixed-Use Redevelopment
100 % Occupied
City Water & City Sewer
Direct-Billed Electricity
Water, Sewer, & Trash Included in Rent
Mountain View Park, Santa Paula CA - Broker: Rick Gordon, Dustin B. Wilmer
Price: $3,450,000 | Price per Site: $75,000 | Cap Rate: 4.76% | # Sites: 46 | 8.85 Acres
46 HCD Permitted MH Sites | First Time On-Market in Over 40 Years
100% Occupied | 100% TOH's
City Water & City Sewer
Direct-Billed G&E | Utility Upgrade Program Complete
Rare Opportunity to Own in Ventura County
12 Park Portfolio - FL, Monticello FL - Broker: Glenn D. Esterson
Price: $2,700,000 | Price per Site: $4,963 | Cap Rate: 10.00% | # Sites: 544 | 2.72 Acres
Value-Add Cash Flowing Portfolio
MSA's With Strong Demand for Affordable Housing
POH To TOH Conversion Opportunity
Mid Town Mobile Terrace, Salinas CA - Broker: Andrew Whinery
Price: $9,000,000 | Price per Site: $112,500 | Cap Rate: 6.17% | # Sites: 80 | 13.07 Acres
Rare Monterey County manufactured housing community asset
Historically high occupancy
Population is 165,000 within a 5-mile radius of the property
Serviced by city water and sewer services
All tenant-owned homes
Urban in-fill location
The property is 20 miles to Monterey, 24 miles to Pebble Beach, and 70 miles to the center of Silicon Valley
Average household income of $87,000 within 5-mile radius of the property
Mountain Shadows MHP, Globe AZ - Broker: Dustin B. Wilmer, Douglas A. Danny
Price: $700,000 | Price per Site: $43,750 | Cap Rate: 11.41% | # Sites: 16 | 7.37 Acres
16 MH Sites | 8 POH
City Water & Septic Served
Direct-Billed G&E
Seller Financing Available for Qualified Investors
21444 Vista Caballero, Perris CA - Broker: Jon Emrani
Price: $399,000 | Price per Site: $199,500 | Cap Rate: 10.01% | # Sites: 2 | 4.88 Acres
Proforma 10% Cap Rate and 7.40 GRM
Front Mobile Home Measures Approximately 24' x 60' = 1,440 s. f.
Back Mobile Home Measures Approximately 12' x 48' = 576 s. f.
New 1 bedroom 408 s. f. with HCD permit
Buena Vista Mobile Home Park, Lamont CA - Broker: Dustin B. Wilmer, Douglas A. Danny
Price: $4,000,000 | Price per Site: $66,667 | Cap Rate: 4.81% | # Sites: 60 | 10.79 Acres
59 Permitted MH Sites | 1 Apartment | Laundry Room
3.2M of Assumable Debt at 4.5% Interest Due in 2034
City Water & Sewer | Sub-Metered Electric, Gas, and Water
Historically 100% Occupied
Below Market Rents | No MHP Rent Stabilization Ordinance
Mid-City Mobile Home Park, Bell Gardens CA - Broker: Dustin B. Wilmer, Douglas A. Danny
Price: $2,060,000 | Price per Site: $68,667 | Cap Rate: 7.30% | # Sites: 30 | 27.52 Acres
25 MH Sites | 5 Apartments
100% Occupied
City Water & Sewer
Bell Gardens Trailer Park, Bell Gardens CA - Broker: Dustin B. Wilmer, Douglas A. Danny
Price: $1,440,000 | Price per Site: $68,571 | Cap Rate: 6.06% | # Sites: 21 | 30.00 Acres
Available as a Portfolio with Mid-City MHP
20 MH Sites | 1 Apartment 100% Occupancy
City Water & Sewer
Fayetteville Hwy MHP, Belfast TN - Broker: Patrick Cosgrove, Daniel Cosgrove
Price: $1,950,000 | Cap Rate: 11.03% | 33.52 Acres
The Fayetteville MHP includes 22 weekly rentals and 8 monthly rentals.
This property is located 7 minutes to Lewisburg industrial park. Marshall county is home to a strong industrial base, including companies such as Marelli, Meiwa Corp., and Walker Die Casting. Marshall
The seller has added two new 5000 gallon holding tanks for water. In addition, the property has two new water wells, bringing the total to five wells. The seller provides tenants with the first $150
Von Ormy Mobile Home Park, Von Ormy TX - Broker: Hudson Silverman, Matt Wagner
Price: $1,418,000 | Cap Rate: 7.83% | 5.74 Acres
3 Acres of Expansion Land Included
100% Occupied
Recently Renovated Mobile Homes
Twenty Minutes from Downtown San Antonio
10770 Katella Ave, Garden Grove CA - Broker: Jonathon McClellan, Tyler Leeson, Matthew J. Kipp, Matthew D. Wenzel
Price: $10,000,000 | Price per Site: $250,000 | Cap Rate: 1.00% | # Sites: 40 | 9.32 Acres
±4.29 Acre Redevelopment Site in a High-Profile Garden Grove Location
Located One Mile to the West of Disneyland and the Anaheim Convention Center
Existing Use is a 40-Space Mobile Home Park on a Ground Lease Expiring in 2030
Zoning is Neighborhood Mixed-Use (NMU) Allowing up to 24 du/acre
General Plan Land Use Designation is Residential/Commercial Mixed-Use 2 (RC-2)
Rare Development Opportunity in a Severely Supply-Restricted Market
Midland County Mobile Home & RV Park, Midland TX - Broker: Skyler Henderson, Brad Dorsey
Price: $1,500,000 | Price per Site: $44,118 | Cap Rate: 9.04% | 31.22 Acres
Appraised for $1.65 Million on April 22, 2024
Open to Seller Finance
Management Willing to Stay Onboard
Approximately 20 Acres Available for Expansion
Located 16.5 Miles from Midland International Airport
Third Party Appraisal and Property Inspection Completed
Environmental Study Currently in Progress
3 Park Portfolio - Greensboro, NC MSA - Broker: Dylan Hellberg., Glenn D. Esterson
Price: $1,900,000 | Price per Site: $36,538 | Cap Rate: 5.90% | # Sites: 52 | 4.42 Acres
100% Occupied
All utilities at all parks are public and billed directly to tenants
Majority of tenants (63%) are tenant owned homes
The Flamingo MHC, Pocatello ID - Broker of Record: Adam Lewis
Price: $12,870,000 | Price per Site: $78,476 | Cap Rate: 5.50% | # Sites: 164 | 6.98 Acres
Unique chance to secure ownership of an all-age manufactured housing community in the picturesque surroundings of Pocatello, Idaho.
Featuring 164 well-maintained sites with a high occupancy rate of 97%, plus an additional 70 storage units offering a stable and reliable investment opportunity
Pocatello, Idaho, earned the notable position of 43rd in the Fortune 50 Best Places to Live list.
Brunswick Estates, Brunswick GA - Broker: Jonathon McClellan, Kyle Baskin, Connor Outcalt, Michael DiCillo Jr.
Price: $4,550,000 | Price per Site: $70,000 | Cap Rate: 7.00% | # Sites: 65 | 1.87 Acres
Brunswick Estates, a manufactured housing community situated in Brunswick, GA, consists of 65 sites (60 MH (58 Developed) + 5 Single Family).
The MH Sites provides public water and sewer services, that are directly billed to the tenants. 1 SFR has septic, and 6 homes are connected to well water with a tie in option to the city.
An excellent location in the southeastern part of Georgia along the Atlantic coastline. Brunswick Estates is positioned 12 miles from the Golden Isles.
Strategically positioned 1 hour north of Jacksonville, FL and 1 hour south of Savanah, GA. Located within Brunswick is a Walmart, Sam's Club, Glynn Place Mall, Home Depot, and other amenities all situated within a convenient 3-mile radius.
Cotulla Village Mancamp Portfolio, Kermit TX - Broker: Skyler Henderson, Brad Dorsey
Price: $7,825,000 | Price per Site: $63,618 | Cap Rate: 15.03% | # Sites: 123 | 123 Acres
15.03% Portfolio Cap Rate - $1,508,400 Guaranteed Income for the Year of 2025
Turnkey Operation with Staff and Employees Willing to Stay Onboard
Convenient Location for Increased Operational Efficiencies
Located in the Heart of the Most Productive Oil and Gas Basin in North America
Potential to Extend Guaranteed Lease Through 2027
3 Park Portfolio - Greensboro, NC MSA - Broker: Dylan Hellberg., Glenn D. Esterson
Price: $1,900,000 | Price per Site: $36,538 | Cap Rate: 5.90% | # Sites: 52 | 4.42 Acres
100% Occupied
All utilities at all parks are public and billed directly to tenants
Majority of tenants (63%) are tenant owned homes
The Flamingo MHC, Pocatello ID - Broker of Record: Adam Lewis
Price: $12,870,000 | Price per Site: $78,476 | Cap Rate: 5.50% | # Sites: 164 | 6.98 Acres
Unique chance to secure ownership of an all-age manufactured housing community in the picturesque surroundings of Pocatello, Idaho.
Featuring 164 well-maintained sites with a high occupancy rate of 97%, plus an additional 70 storage units offering a stable and reliable investment opportunity
Pocatello, Idaho, earned the notable position of 43rd in the Fortune 50 Best Places to Live list.
Owen Drive MHP, Fayetteville TN - Broker: Trey Finison, Patrick Cosgrove, Daniel Cosgrove
Price: $645,000 | Price per Site: $53,750 | Cap Rate: 8.03% | # Sites: 12 | 2.01 Acres
Units between 1998 and 2003 vintage or newer
Individually metered for water and electric
4 undeveloped acres for expansion on the same property
Greystone MHP, Nashville TN - Broker: Patrick Cosgrove, Daniel Cosgrove
# Sites: 22 | 14.57 Acres
This 22-unit MHP is located approximately 10 minutes from downtown and 8 minutes to the airport.
This MHP is on city water, city sewer, and city electric. The parking lot is paved.
It is in the heart of the industrial district of Nashville, where the need for affordable housing is a necessity.
19 Wells Mobile Home Park, Sinton TX - Broker: Myles Nagy, Hudson Silverman, Matt Wagner
Price: $900,000 | Price per Site: $47,368 | Cap Rate: 8.63% | # Sites: 19 | 5.54 Acres
Stabilized Asset
Utility Recapture
Minimal Management Required
High Returns Day 1
$500,000 Of Rental Credits Receivable
Skylark Mobile Home Community, Fallbrook CA - Broker: Dustin B. Wilmer, Douglas A. Danny
Price: $5,800,000 | Price per Site: $131,818 | Cap Rate: 5.20% | # Sites: 44 | 15.33 Acres
44 Site MHC in San Diego County
City Water & Sewer
Direct Billed Gas & Electric | Utility Upgrade Program Recently Completed
100% TOH's | 100% Occupied.
Greyson Grove MHP, Rocky Mount NC - Broker: Glenn D. Esterson
Price: $4,250,000 | Price per Site: $55,921 | Cap Rate: 5.60% | # Sites: 76 | 5.07 Acres
Turn-Key Stabilized Asset
91% Occupancy
Strong Demand for Affordable Housing
Prairie Knolls, Jacksonville IL - Broker: Glenn D. Esterson, Jonathon McClellan, Kyle Baskin, Connor Outcalt, Michael DiCillo Jr.
# Sites: 164 | 3.17 Acres
All of the communities receive public water and sewer.
Among the 195 homes owned by the park, with an average year of 2015, approximately 75%, or 147 units, were built in 2018 or later.
All 4 communities are situated within a 15-minute drive of each other.
Maple Creek MHP, Woodson IL - Broker: Glenn D. Esterson, Jonathon McClellan, Kyle Baskin, Connor Outcalt, Michael DiCillo Jr.
# Sites: 33 | 5.08 Acres
All of the communities receive public water and sewer.
Among the 195 homes owned by the park, with an average year of 2015, approximately 75%, or 147 units, were built in 2018 or later.
All 4 communities are situated within a 15-minute drive of each other.
Country Aire, Lake Charles LA - Broker: Jonathon McClellan, Kyle Baskin, Connor Outcalt, Michael DiCillo Jr.
31.96 Acres
Country Aire Mobile Home Park is Ideally Situated in Lake Charles, Louisiana, Offering a Mix of Tranquility and Convenience to Residents
The Park offers a Value-Add Opportunity through the Optimization of Operational Efficiencies, Potential Rent Increases, and Further Development or Upgrade of the Site and Homes
With Established Utilities that are Directly Billed to Tenants, the Park Ensures Operational Efficiency and Cost Recovery
Forest Hollow, Beaumont TX - Broker: Jonathon McClellan, Kyle Baskin, Connor Outcalt, Michael DiCillo Jr.
# Sites: 160 | 45.63 Acres
Exceptional Investment Opportunity in Beaumont, Texas: Forest Hollow Community
Forest Hollow's Strategic Placement Offers the Perfect Blend of Tranquility and Convenience. Located Just 10 Miles from Downtown Beaumont and Within a Seven Mile Reach of Major Retail Hubs
The Jewel in the Crown of Forest Hollow is the Inclusion of 148 Brand New Legacy Homes, Poised for Immediate Occupancy
Robbins Mobile Village, Waterford Township MI - Broker: Jonathon McClellan, Kyle Baskin, Connor Outcalt, Michael DiCillo Jr.
Price: $6,550,000 | Price per Site: $46,454 | Cap Rate: 6.50% | # Sites: 141 | 6.37 Acres
Situated in Waterford Township, Michigan, Robbins Mobile Village comprises 141 Sites, with a 73 Percent Occupancy Rate.
The Community Enjoys a Convenient Location Near the 59 Freeway and Telegraph Road, Ensuring Residents have an Effortless Commute to Downtown Detroit, Situated just 30 Minutes South of the Community
Robbins Mobile Village Offers its Residents the Convenience of Sub-Metered Public Water and Sewer Services.
Mobile Grove, Conneaut OH - Broker: Jonathon McClellan, Kyle Baskin, Connor Outcalt, Michael DiCillo Jr.
Price: $6,640,000 | Price per Site: $48,467 | Cap Rate: 6.00% | # Sites: 137 | 8.16 Acres
Situated in Conneaut, Ohio, Mobile Grove comprises 137 sites plus 72 storages, with a 69 percent occupancy rate.
Given 31% infill opportunity, a new investor can initiate a robust sales program to fill the vacant lots.
Mobile Grove offers its residents public water and sewer services, that are billed back.
The community enjoys an excellent location, being that it's situation about halfway between Erie, PA and the Cleveland, OH eastern suburbs. Also, the community is only a 5-minute drive of the shores of Lake Erie.
The market demands homes sales given there are only 16 POH throughout the community.
Leisure Village, Leeds NY - Broker: Jonathon McClellan, Kyle Baskin, Connor Outcalt, Michael DiCillo Jr.
Price: $4,500,000 | Price per Site: $59,211 | Cap Rate: 5.21% | # Sites: 74 | 3.71 Acres
Features 76 Sites with a Substantial 86 Percent Occupancy, Reflecting its Popularity and Appeal as a Residential Choice
Located in the Hudson River Valley, which is a Scenic Region in the State of New York, Extending Along the Hudson River and Just North of New York City
Public Water that is Sub-Metered and Private Sewer
The Surrounding Area of the Hudson River Valley Boasts a Population Exceeding 975,000 Within a 40-mile Radius.
Parklane Mobile Home Park, Nanaimo, BC V9R 6C1 - Broker: Patrick McEvay, James Blair, Adam Herman, Sunil Survana
Price: $7,200,000 | Price per Site: $96,000 | Cap Rate: 4.30% | # Sites: 75 | 7.50 Acres
Centrally located on the East Coast of Vancouver Island in the 'Hub City' of Nanaimo. Parklane MHP is situated in a quiet rural setting with convenient access to urban amenities along the Nanaimo Park
The Park is connected to municipal water and sewer services and is well-looked after by the on-site superintendent providing ease-of-management for ownership.
With 75 pads and 10 acres of land the Park offers investors the opportunity to grow an existing or establish a foothold on Vancouver Island with immediate scalability.
Central Vancouver Island communities are attracting a record number of new residents. According to Stats Canada, Nanaimo is one of the country's fastest growing metropolitan areas with a population growth of 10% over the last census.
Congaree MH Village, West Columbia SC - Broker: Dylan Hellberg, Glenn D. Esterson
Price: $800,000 | Price per Site: $26,667 | Cap Rate: 6.40% | # Sites: 30 | 6.73 Acres
Public Water – Metron Submeters Recently Installed
Below Market Rents
MSA Population of 825,000
Tumbleweed Estate, Midland TX - Broker: Matt Wagner, Hudson Silverman
Price: $500,000 | Price per Site: $35,714 | Cap Rate: 9.75% | # Sites: 14 | 7.00 Acres
Stabilized Asset
Well & Septic
Under Market Rents
Tenant Owned Homes
Cleveland MHC, Richland MS - Broker: Jonathon McClellan, Kyle Baskin, Connor Outcalt, Michael DiCillo Jr.
Price: $1,938,000 | Price per Site: $14,682 | Cap Rate: 5.00% | # Sites: 132 | 5.89 Acres
Showcases an Attractive Mixed-Use Community Featuring 122 Manufactured Home (MH) Sites Alongside 10 Recreational Vehicle (RV) Spaces, Positioned in the Desirable Locale of Richland
Equipped with Public Water and Sewer Services, the Costs of Which are Recouped Through Billing Back to the Residents
Presents a Unique Investment Opportunity to Procure Brand New Homes for Immediate in-fill, Enhancing the Community's Value and Appeal.
Central Park Estates MH & RV Park, Sierra Vista AZ - Broker: Dustin B. Wilmer, Douglas A. Danny
Price: $2,700,000 | Price per Site: $43,548 | Cap Rate: 5.94% | # Sites: 62 | 7.78 Acres
62 Total Sites (57 MH | 3 RV Sites. 14 POH Included. City Water and Sewer. Direct-Billed Electricity and Natural Gas
Potential of adding 10- 12 RV Sites. Recently remodeled Manager's Office & Club House. Laundry Facilities on site.
Seller Finance available for qualified Buyer.
3 Park Portfolio - Lumberton NC, Lumberton NC - Broker: Glenn D. Esterson
# Sites: 203 | 41.28 Acres
All Parks on Public Water
Value-Add Cash Flowing Portfolio in a Centrally Located Market
POH To TOH Conversion Opportunity
7 MHC Portfolio - North Carolina, Lumberton NC - Broker: Glenn D. Esterson, Jonathon McClellan, Kyle Baskin, Connor Outcalt, Michael DiCillo Jr.
# Sites: 399 | 3.66 Acres
Among the 522 homes owned by the park, that we have a year for, around 57%, or 296 units, were constructed in 2017 or later.
All the communities receive public water and sewer services, with the exception of Taylor's Bridge, Pinewood Estates, and Green Pines, which rely on septic systems.
All 14 communities are situated within a 70-mile radius of each other, and the majority are conveniently located within 10 miles.
Taylor Park, Lumberton NC - Broker: Glenn D. Esterson, Jonathon McClellan, Kyle Baskin, Connor Outcalt, Michael DiCillo Jr.
# Sites: 52 | 7.60 Acres
Among the 522 homes owned by the park, that we have a year for, around 57%, or 296 units, were constructed in 2017 or later.
All the communities receive public water and sewer services, with the exception of Taylor's Bridge, Pinewood Estates, and Green Pines, which rely on septic systems.
All 14 communities are situated within a 70-mile radius of each other, and the majority are conveniently located within 10 miles.
West Estates, Lumberton NC - Broker: Glenn D. Esterson, Jonathon McClellan, Kyle Baskin, Connor Outcalt, Michael DiCillo Jr.
# Sites: 21 | 5.59 Acres
Among the 522 homes owned by the park, that we have a year for, around 57%, or 296 units, were constructed in 2017 or later.
All the communities receive public water and sewer services, with the exception of Taylor's Bridge, Pinewood Estates, and Green Pines, which rely on septic systems.
All 14 communities are situated within a 70-mile radius of each other, and the majority are conveniently located within 10 miles.
Taylors Bridge, Magnolia NC - Broker: Glenn D. Esterson, Jonathon McClellan, Kyle Baskin, Connor Outcalt, Michael DiCillo Jr.
# Sites: 58 | 1.24 Acres
Jonathon McClellan and Kyle Baskin, in collaboration with Glenn Esterson of Marcus & Millichap, are pleased to present an exciting opportunity to acquire 14 manufactured housing communities nestled in
All the communities receive public water and sewer services, with the exception of Taylor's Bridge, Pinewood Estates, and Green Pines, which rely on septic systems.
All 14 communities are situated within a 70-mile radius of each other, and the majority are conveniently located within 10 miles.
Pine Log, Lumberton NC - Broker: Glenn D. Esterson, Jonathon McClellan, Kyle Baskin, Connor Outcalt, Michael DiCillo Jr.
# Sites: 35 | 8.75 Acres
Among the 522 homes owned by the park, that we have a year for, around 57%, or 296 units, were constructed in 2017 or later.
All the communities receive public water and sewer services, with the exception of Taylor's Bridge, Pinewood Estates, and Green Pines, which rely on septic systems.
All 14 communities are situated within a 70-mile radius of each other, and the majority are conveniently located within 10 miles.
Pinewood Estates, Elizabethtown NC - Broker: Glenn D. Esterson, Jonathon McClellan, Kyle Baskin, Connor Outcalt, Michael DiCillo Jr.
# Sites: 92 | 2.03 Acres
Among the 522 homes owned by the park, that we have a year for, around 57%, or 296 units, were constructed in 2017 or later.
All the communities receive public water and sewer services, with the exception of Taylor's Bridge, Pinewood Estates, and Green Pines, which rely on septic systems.
All 14 communities are situated within a 70-mile radius of each other, and the majority are conveniently located within 10 miles
Cedarbrook Estates, Jacksonville IL - Broker: Glenn D. Esterson, Jonathon McClellan, Kyle Baskin, Connor Outcalt, Michael DiCillo Jr.
# Sites: 42 | 4.03 Acres
All of the communities receive public water and sewer.
Among the 195 homes owned by the park, with an average year of 2015, approximately 75%, or 147 units, were built in 2018 or later.
All 4 communities are situated within a 15-minute drive of each other.
Rolling Acres, Jacksonville IL - Broker: Glenn D. Esterson, Jonathon McClellan, Kyle Baskin, Connor Outcalt, Michael DiCillo Jr.
# Sites: 156 | 3.96 Acres
All of the communities receive public water and sewer.
Among the 195 homes owned by the park, with an average year of 2015, approximately 75%, or 147 units, were built in 2018 or later.
All 4 communities are situated within a 15-minute drive of each other.
Valley View Mobile Home Park, Lumby BC - Broker: Adam Herman, Patrick McEvay, James Blair, Sunil Suvarna
Price: $5,000,000 | Price per Site: $60,241 | Cap Rate: 5.21% | # Sites: 83 | 2.48 Acres
Well situated in a growing Okanagan market, the property is conveniently located with its close proximity to Vernon and an hour drive from Kelowna International Airport.
The property offers little required future capital expenditures with close to $500,000 spent within the last two years to replace two new septic fields.
The park has a strong going in cap rate, with room for improvement upon turnover. Current pad rentals average $356 per month, with new pads renting at $550 per month upon turnover.
The park is built on a sprawling 33.4 acres of land, with room to add additional pads to increase potential income.
Sufficient scale allows the potential purchaser to have a "hands off" approach with a caretaker currently in place.
12 Park Portfolio - GA, Thomasville GA - Broker: Glenn D. Esterson
Price: $29,300,000 | Price per Site: $53,860 | Cap Rate: 10.00% | # Sites: 544 | 200.0 Acres
Value-Add Cash Flowing Portfolio
MSA's With Strong Demand for Affordable Housing
POH To TOH Conversion Opportunity
YALE
2 MHC Portfolio, Key West FL MSA - Broker: James Cook
Price: $22,500,000 | Price per Site: $208,900 - $278,550 | Cap Rate: 10.00% | # Sites: 544 | 200.0 Acres
MHC, Kisssimmee - Sebring FL Region - Broker: James Cook
Price: $40,000,000 | Price per Site: $114,300 - $133,350 | Cap Rate: 4.56% | # Sites: 300 - 350 | 80 Acres
55+ MHC, built in the mid 1980’s
98% modern DW inventory
Rents are 30% below market, as is custom with family-owned MHC’s
All PVC utility lines serviced by a WWTP and Well — Significant land for additional amenities
Southwest Missouri MHC, Upper Midwest - Broker: Ken Schefler
Price: $7,500,000 | Cap Rate: 9.09% | # Sites: 150
97% occupied.
+ Strong Day 1 Cash flow
MHC Portfolio, Upper Midwest - Broker: Ken Schefler
Price: $30,000,000 | # Sites: 500+
Upper Midwest MHC Portfolio - Broker: Ken Schefler
# Sites: 1000
Strong Concentration Around Single MSA
Senior Lakefront FL MHC, Orlando - Lake County FL - Broker: James Cook
Price: $8,400,000 | Price per Site: $67,200 - $84,000 | Cap Rate: 6.56% | # Sites: 100-125 | 10 Acres
55+ Lakefront MHC In a rapidly growing area
Heart of Town location, walk to city parks, activities, and businesses.
All Municipal Utilities
Next Door to the Public Boat Ramp
10% Rent Room and 15%+ Lease-up Opportunity
WV 2-MHC Portfolio - South Central WV - Broker: Harrison Bell
Price: $4,500,000 | Price per Site: $29,000 - $43,500 | Cap Rate: 7.64% | # Sites: 125 | 40 Acres
Direct billed city utilities
85%+ occupied and 90% tenant owned
Two parks located less than an hour from each other.
Recent appraisal for well above target price
Management group willing to continue post-sale.
Eastern South Dakota MHP, Eastern South Dakota - Broker: Ken Schefler
Price: $3,190,000 | Price per Site: $18,350 - $27,500 | Cap Rate: 7.54% | # Sites: 125 | 15 Acres
Institutional Scale – There are 125± sites in the community, allowing for a path to agency debt
Market Growth – Harris Machine Company, a machining and welding company supplying parts to Terex, John Deere, and Caterpillar, just opened a new factory in 2024 less than 1 mile from the community
Value Add Opportunity – Light value add opportunity includes increasing rents (currently $50 below market) and billing back for water, sewer, and trash. Heavier value adds opportunities include selling 9 vacant homes and infilling 19 vacant sites.
Strong Infrastructure – Municipal water and sewer
NE South Dakota MHP - Broker: Ken Schefler
Price: $7,925,000 | Price per Site: $39,050 - $54,650 | Cap Rate: 6.55% | # Sites: 150
Institutional Scale – Over 100 sites in a metro with $250k home prices demonstrating a need for affordable housing.
Strong Day 1 Cashflow – The community is 89% occupied, with 70% of tenants being TOH. There is also self-storage on site that generates additional income.
Value Add Opportunity – 15 vacancies and 22 rental homes allow for upside without the headaches of a large turnaround project, and median incomes support the conversion to TOHs.
Strong Infrastructure – Municipal water, sewer, and trash, paid by the community with upside to start billing back. Electric and gas billed directly to tenants.
Western Iowa MHC, Omaha, NE - Des Moines, IA MSA - Broker: Ken Schefler
Price: $1,700,000 | Price per Site: $14,600 - $19,450 | Cap Rate: 5.99% | # Sites: 75-100 | 25 Acres
Value Add Opportunity – Incredible value add potential with huge 5-year returns, including 19% cash on cash and 22% IRR.
Strong Infrastructure – Water and Sewer are municipal and direct bill. Roads are recently repaved.
Centrally Located – Less than 1 hour from Omaha, NE. A little over an hour from Des Moines, IA.
Easy Bolt On – Strong manager on site who can take on more properties for groups with communities in Eastern IA
Connecticut All - Age MHC, New Haven CT MSA - Broker: Harrison Bell
Price: $4,700,000 | Price per Site: $62,650 - $94,000 | Cap Rate: 7.06% | # Sites: 50-75 | 5-10 Acres
100%+ Occupied & 100%+ Tenant Owned Homes
High-Quality, Riverfront Community
Limited Affordable Housing in the Area
Opportunity to Convert Commercial Space into Apartments
Located near New Haven, Waterbury, & Danbury
Southern Michigan Three-MHC Portfolio, Southern Michigan - Broker: James McCaughan
Price: $11,000,000 | Price per Site: $33,550 - $39,650 | Cap Rate: 6.27% | # Sites: 300+ | 170 Acres
High-quality MHCs located in some of the strongest markets in the Midwest with positive economic and demographic trends to support housing demand.
Opportunity to increase asset values through active management, lease-up, and rent increases.
Each property includes room to approximately double site count.
Seller willing to consider holding note with terms preferable to projected third-party financing.
MHC, Eastern PA - Broker: Harrison Bell
Price: $7,800,000 | Price per Site: $50,350 - $75,500 | Cap Rate: 6.11% | # Sites: 125 | 150+ Acres
Agency Quality Community
20% Below Market Rents
90% Tenant Owned Homes
15% Vacancy in Market with Less than 5% Vacancy
MHC Ohama-Council Bluffs, MSA - Broker: Ken Schefler
Price: $3,800,000 | Price per Site: $50,650 - $76,000 | Cap Rate: 9.87% | # Sites: 50-75 | 30+ Acres
Over 15% cash on cash in year one
Unique situation where path to bank financing with $3M in proceeds is already lined up.
Stabilized with 96% occupancy.
Only 30 minutes from downtown Omaha.
Pennsylvania 4-MHC Portfolio, PA - Broker: Harrison Bell
Price: $18,550,000 | Price per Site: $60,300 - $72,350 | Cap Rate: 6.46% | # Sites: 250-300
High-Quality, Agency Financeable Portfolio
Three Communities Within 30 Minutes
~15% Vacancy Upside
Over 90% Tenant Owned Homes
Recent CapEx for Roads
Trophy Senior Florida MHC, Lake Placid – Lake Wales FL - Broker: James Cook
Price: $6,400,000 | Price per Site: $50,000 - $83,350 | Cap Rate: 4.76% | # Sites: 75-125
Trophy 55+ MH Community in Central FL
All Public Utilities, Direct Metered, and dedicated incl. Streets
Very Strong Resales - $100-200k on avg
CPI Leases with Go-to-Market on Turnover
Every site has a Doublewide unit, with Carport.
Senior MHC Resort, Portland, OR - Seattle, WA Region - Broker: Chad Ledy
Price: $18,000,000 | Price per Site: $120,000 - $180,000 | Cap Rate: 7.30% | # Sites: 100 - 150
Assumable Low Interest Rate Debt
Desirable 55+ Senior Housing Community
Well-Maintained and High Occupancy
Municipal Water and Sewer
Attractive Location Near I-5 between Portland and Seattle
MH Community, Roanoke VA - Broker: Harrison Bell
Price: $3,050,000 | Cap Rate: 6.43% | # Sites: 75+
Trophy MHC Portfolio - Broker: Harrison Bell
# Sites: 350 - 400
Rare Institutional Sized Deal
Severe Lack of Affordable Housing in the Market
Excellent Location and No Deferred Maintenance
100% Occupied and Tenant Owned Homes
City Utilities and Very Low OpEx Ratio
Tampa Bay MHC, Tampa Bay FL MSA - Broker: James Cook
Price: $3,250,000 | Price per Site: $44,650 - $134,000 | Cap Rate: 9.69% | # Sites: 50+/- | 7.5+ Acres
POH income on 62% of the units and LTO on 20%
8% cap as a POH rental or 6.4% as a lot rent model selling off the POH.
Minutes to two major interstate on/off ramps and major grocers
Owned and operated by a national owner, with in place management.
Well water and completely redone septic system
MHC Portfolio, Bay Area CA - Broker: Chad Ledy
Price: $45,000,000 | Price per Site: $224,500 - $299,350 | Cap Rate: 6.80% | # Sites: 150-200
Rare opportunity to purchase a Bay Area portfolio.
Great location, ~30-mile drive to downtown San Francisco —
Insatiable local affordable housing demand
All properties within 5-mile radius
Expansion opportunity and flexible operational up-side
MHC, Miami FL - Broker: James Cook
Price: $20,000,000 | Price per Site: $133,350 - $200,000 | Cap Rate: 4.8% | # Sites: 100-150 | 8+ Acres
Rare opportunity to acquire an urban-infill MHC in Miami
Massive Upside via up to 1,200 MF unit underlying zoning
15 Minutes to Nearly All of Miami
Dually zoned and can be converted to an RV park, rates ranging from $100-200 per night and Year-round demand driving 70-80% occupancy.
Brand new water system, $1.25m to replace septic lines and connect to public sewer.
MHC, Ogden / Clearfield MSA - Broker: Brian McDonald
Price: $6,000,000 | # Sites: 40 - 50
MHC Portfolio, St. Louis IL/MO MSA - Broker: Ken Schefler
Price: $12,300,000 | # Sites: 425
MH Community, Ogden-Clearfield, UT MSA - Broker: Brian McDonald
# Sites: 50
MHC, Southern New Mexico - Broker: Dan Cook
Price: $20,000,000 | Price per Site: $66,650 - $80,000 | Cap Rate: 4.70% | # Sites: 250-300
Community currently has rents $100 below market
Connected to public utilities and should be passed through to tenants
Nicely amenities, including clubhouse, pool, and playground
Roughly one third of the homes have seller financed notes
Agency quality community
MH Community, New Mexico Region - Broker: Max Hernandez
Price: $1,800,000 | Cap Rate: 4.50% | # Sites: 40-60
3.5 Star
MH Community, Gainesville Metro FL - Broker: James Cook
Price: $9,500,000 | Price per Site: $18,350 - $27,500 | Cap Rate: 5.52% | # Sites: 125 | 25 - 30 Acres
Family MHC in a severely underserved market of Central FL
Strong employment base surrounding property and very little housing
30-minute commute to two mid-size metros and the Gainesville FL metro
Nicely amenities, including a Clubhouse, pool, and large spaces that can fit DW’s
Ownership turned around and leased up the property in the last 4 years, 60% still park owned.
CBRE
Jackson MHC, Hemet, CA - 93 Units- Broker: Norman Sangalang, Jez Lawson, Erik Edwards
Crestview MHC, Lancaster CA- 101 Units - Broker: Norman Sangalang, Jez Lawson
MHP BROKERAGE
New!
Northern CA Portfolio, Crescent City, CA - Broker: Joel Sachs
Price: $7,300,000 | # Sites: 145
Price: $4,000,000 | # Sites: 233
Price: $1,500,000 | # Sites: 30
Price: $500,000
6 POH & 1 Duplex
Fairview Village, Osgood IN - Broker: Sammy Deeb
Price: $1,300,000 | # Sites: 66
White River Estates, Muncie IN - Broker: Sammy Deeb
Price: $1,400,000 | # Sites: 198
Spring wood Village Mobile Home Park, Gowanda NY
# Sites: 52
25 TOH, 15 POH
2 Community Portfolio, Columbia MO - Broker: Sammy Deeb
# Sites: 296
Confidential Mountain West Community - Broker: Sammy Deeb
Price: $435,000 | # Sites: 16
Crestlawn Village, Ashtabula OH
Price: $5,000,000 | # Sites: 100
Whispering Sands MHP, Desert Hot Springs CA - Broker: Sammy Deeb
Price: $3,595,000 | # Sites: 46
Springwood Village Mobile Home Park, Gowanda NY
# Sites: 52
25 TOH, 15 POH
Elm Ridge MHP, Denver CO - Broker: Sammy Deeb
# Sites: 52
SUNSTONE
New!
Leaning Oaks & Maple Leaf, Houston MSA - Broker: Casey Thom and Hudson Bird
Price: $$6,705,000 | # Sites: 71
3 vacant sites available at Leaning Oaks
City water and sewer services at Maple Leaf
4th largest city in the U.S.
59 park-owned homes
Central/Eastern MI 4-Property Portfolio - Broker: Kolman Bulbis
Price: $15,105,000 | # Sites: 282
282 Sites – 92% Economic Occupancy - All properties serviced by city water and sewer
Hillsdale, Breckenridge & Alma - $6,369,000 Assumable Agency financing fixed at 5.62%
Hillsdale, Alma, & Saginaw are submetered with new Metron meters. Breckenridge is direct billed.
Strong preference will be given to portfolio offers, but individual offers on Saginaw will be considered.
Kickapoo Village, Bethalto IL - Broker: Kolman Bubis
Price: $4,200,000 | # Sites: 89
89 Site MHC & RV Community with 95% Current Occupancy
Municipal Water & Sewer that is Sub metered and billed based on Usage
Strong demand from long-term RV stays and MHC tenants working at the Wood River Oil Refinery, located 5 miles away, producing 200K barrels per day.
Additional demand generators include the St. Louis Regional Airport, Walmart, and various retail & restaurants.
Onsite manager in place, with below-market rental rates offering operational occupancy upside for a new owner.
Hub City, Alice TX - Broker: Tony Houchin
Price: $1,500,000 | # Sites: 34
Alliance NE 2 Park Portfolio, Alliance NE - Broker: Casey Thorn, Robert McBroom
# Sites: 174
Park price per site of $17,000 - Below replacement cost
Value creation by filling vacant inventory and sites
Comps in market are 90%+ occupied charging above $400 lot rents
Water, sewer, and trash are direct billed to tenants
106 Sites in San Antonio MSA - Broker: Casey Thorn, Robert McBroom
Price: $10,023,000 | # Sites: 106
Strategic Location: Interstate 35 frontage with proximity to a regional shopping center.
Convenient Utility Billing: Streamlined process with direct billing for all utilities, reducing maintenance and management expenses.
Streamlined Property Maintenance: City provides quarterly bulk pick up.
High Occupancy Rate: Boasting 106 sites with an impressive 97% occupancy rate.
Growth Environment: Surrounded by development, including the expansion of single-family homes and commercial establishments.
South Concho, San Angelo TX - Broker: Robert McBroom, Casey Thom
# Sites: 268
258 sites at 59% occupancy
City services
Significant value-add potential with in-fill
42 sites leased up in 2022 and 2023
Median home price of $207,000 in San Angelo
Diverse economy including Angelo State University & Goodfellow AFB
Onsite office and pool facilities
Converse Meadows, Converse TX - Broker: Casey Thorn, Robert McBroom
# Sites: 243
Onsite Office
Pool
City Services billed back to residents.
Potential for increased value through infill and adjusting rents.
Recent updates, including improved roads.
Southwest Portfolio, Bloomfield NM - Broker: Casey Thom, Robert McBroom
Price: $23,400,000 | Price per Site: $26,995,000 | # Sites: 394
Ability to own in two strong markets.
Upside in infill & below market rents
New home inventory in NM properties - 25 homes are 2022+ models.
Great debt - CMBS fixed at 3.72% & Fannie Debt fixed at 4.59% (see OM for more details)
CAPSTONE
Eastern Indiana Portfolio, IN - Broker: Tanner Byers, Jon Wilsman, Evan McLeod
# Sites: 88 sites
Upside in Filling Vacancy
Below-Market Rents & Public Utilities with Bill-Back
Recent Capital Improvements
100% Tenant-Occupied Homes
Close Proximity Allows for Shared Staffing
Direct Access to Indianapolis, Dayton, & Cincinnati
Western Tennessee MH & RV Portfolio, Jackson TN - Broker: Tanner Byers, Jon Wilsman, Evan McLeod
# Sites: 420 sites
Scaled Entry into Tennessee with Eight Communities Totaling 420 Sites
Stabilized 86% Portfolio Occupancy
High Demand for Workforce Housing & Below Market Rents
Well-Maintained Communities
Close Proximity Allows for Shared Staffing & Economies of Scale
Numerous Economic Developments in Madison County
Potential Expansion Opportunities
NEWMARK
Plattsburgh MHC Portfolio, Plattsburgh NY - Broker: Andrew Shih, Todd Fletcher, Braden Weaver, Samuel Rector
Blythe Marina Estates, Blythe CA - Broker: Andrew Shih, Todd Fletcher, Braden Weaver, Wills Vlasek, Samuel Rector
# Sites: 60 | 4.95 Acres
Opportunity to complete the buildout of the community and add 67 expansion sites, bringing the total site count up to 127 sites. The Owner is working with HCD to revise the PTO to its original count of 127 spaces.
The Owner has been able to bring in homes into the park and sell them to residents. A total of 20 homes have been brought in since 2015 and sold to residents within 4 months after delivery. There are currently 4 vacant homes that the Owner expects to sell in the next few months, which will add another $28,000 in annual site rental revenue in Year 1.
Value-add opportunity for a new owner to boost revenue by filling the remaining vacant sites. Filling the current vacant sites (5) would add nearly $38,000 in additional annual site rental revenue for a new owner with minimal increases to the expenses. There is also a storage area which can be rented out.
Another source of upside would be to raise lot rents up to market. The community is not governed by rent control, giving a new owner the opportunity to raise lot rents annually without governmental restrictions. The current Owner will increase the lot rent anywhere from $17.50 to $50 in December 2024, which should add over $13,000 in annual site rental revenue for the next Owner. This is not included in our Proforma in the Financial Analysis section of our OM.
Blythe Marina Estates should qualify for attractive debt financing. Please contact Sam Rector for more details (see footer below for his contact information).
The community features an attractive layout with off-street parking and paved roads. The community also offers a completely remodeled community clubhouse with full kitchen, billiard table, refreshing swimming pool, whirlpool spa, patio deck, picnic area and launching facilities directly across the street at Quechan Marina. The community also has storage for boats, RV, and motor homes.
Canyon Homes MHC, Wildomar CA - Broker: Todd Fletcher, Andrew Shih, Braden Weaver, Wills Vlasek
# Sites: 50 | 7.82 Acres
Value-add opportunity to raise lot rents to boost revenue. The community is not governed by rent control, giving a new Owner the opportunity to raise lot rents annually without governmental restrictions. The current Owners plan to increase the lot rent by 2.5%-5% in December 2024 ($30 average increase), which should add over $20K in annual site rental revenue for the next Owner. This is included in our Proforma in the Financial Analysis section of the OM.
Lot rents for the legacy tenants can be increased by 2.5%-5% but any new tenant (upon turnover) could be increased by a larger percentage. The new lease agreement states, “The annual increase for a homesite with space rent over $1,000 may increase by $50 a year. For homesites with space rent less than $1,000 the rent may be increased up to $100 a year. Once a rent increase takes a site over $1,000, the site switches to a maximum increase of $50 a year.” Historical rent increases have been minimal because the current Owners thought they were under rent control but turns out not to be the case.
New move-in rents are $1,000, or $202 higher than the current average. There is a tremendous opportunity to capture the added revenue upon turnover. If turnover is 10% annually, that would add over $12K in additional annual lot income going forward.
Canyon Homes MHC should qualify for attractive debt financing. Please contact Sam Rector for more details (see footer below for his contact information).
The community has an attractive layout with a subdivision feel featuring off-street parking, large pad sites and asphalt roads. The community also has a pool and clubhouse for tenants to enjoy.
There is a strong demand for affordable housing in this market. Within a 5-mile radius of the community, average household incomes are $128,493 with strong housing values at $598,090.
There is also steady population growth in the area. Within a 10-mile radius, the total population went from 376,501 in 2020 to 392,525 in 2023.
The Affordability Analysis on page 4 of the OM highlights the benefit of owning a home in an MHC, where total monthly payments are 65% less than single-family ownership. As single-family affordability becomes increasingly more challenging in this market, more people will be looking for inexpensive options that still provide a high-quality living situation like the community offers.
Carolinas MHC Portfolio - Broker: Todd Fletcher, Andrew Shih, Braden Weaver
Rents appear to be well below market for all the properties and the current Owners are signing new move-ins at rents well above existing tenants. Ashlyn is signing at $55 per site per month higher, Simmons at $150 higher, Ashboro at $145 higher and Deborah at over $145 higher.
Average lot rents across the portfolio are positioned favorably at $389 compared to $469 average across family communities. Increasing rents to market would add over $117,000 in additional annual revenue for a new owner.
Properties consist of almost all tenant owned homes. There are only 10 current park owned homes of which 8 are occupied as pure rental or a lease-to-own structure.
The properties are offered as a package and need to be sold together.
Within a 10-mile radius of each community, the average household income across the portfolio is $75,962 with average home values at $251,589. Given the strong demographics, there is an incredible amount of demand for affordable housing in these markets.
All of the communities are located within close proximity of each other and major metro areas, allowing a new owner to immediately benefit from economies of scale and management efficiencies, and making it extremely time and cost efficient to run the portfolio.
Fairgrove MHC, Reidsville NC - Broker: Andrew Shih, Todd Fletcher, Braden Weaver, Samuel Rector
# Sites: 96 | 2.6 Acres
Fairgrove MHC is an all-age 96-site community with a strong economic occupancy of 87% and very few park-owned homes located 25-minutes away from Greensboro, NC (3rd most populous city in the State).
The Owner has been able to bring new homes into the park priced in the $50,000 to $70,000 range and sell them to new residents. A total of 30 new homes (Clayton and Fleetwood, 16x76, 3bed/2bath) have been brought in since 2018 and sold to residents within 1-2 months after delivery for an average sale price of $60,000. Owner has also made a push to convert POH to TOH in the last 4 years and completed 15 home sales with an average sale price of $40,000.
Fairgrove should qualify for attractive debt financing. The current lender also would consider writing a new loan for a new Owner. Please contact Sam Rector for more details (contact information below).
Value-add opportunity to increase occupancy through filling the remaining vacant sites. Current ownership has already established the momentum story that sites can be filled because economic occupancy has grown 33 sites (or 35%) from 2018 taking overall occupancy up to 87%. Filling the remaining vacant sites (11) would add over $50,000 of annual site rental revenue for a new owner.
Another source of upside would be to raise lot rents up to market. According to the rent comps on page 4, the average adjusted site rent for comparable properties is $496 versus $333 at the subject community. Moving all tenants up to market rent at current occupancy levels would add over $160,000 in additional annual site rental revenue.
The offering includes 6 park-owned homes, of which 3 are currently occupied on lease-to-own agreements and 1 is a pure rental. Of the 2 vacant homes, one is used as an office, and one is an abandoned home that has been renovated. The 3 lease options are 3 bed/2 bath Clayton or Giles models built in 2015 or 2017 paying an average of $333 in home payments per month and 5.8 years remaining on the term. Tenants are responsible for maintaining these homes.
There are 3 other homes on notes (promissory note held by the owner) that the current Owner is willing to hold after a community sale. The Owner may consider an offer and the current balance is $56,500 as of Jan ’24.
The community has an attractive layout with a subdivision feel featuring off-street parking, spacious sites, asphalt roads, and mature trees throughout.
Strong demographics with average household incomes and homes values of $107,119 and $340,778 within a 3-mile radius of the community.
Red Palmetto MHC, Ladson SC - Broker: Todd Fletcher, Andrew Shih, Braden Weaver, Samuel Rector
# Sites: 24 | 9.96 Acres
The property is 100% occupied with only one brand-new 2024 park owned home on a rent-to-own agreement. The remaining sites are filled with tenant owned homes.
New move-in rents are already $200+ higher per site per month. There is a tremendous opportunity to eventually move all site rents to this level, which would create over $55K in additional annual revenue. According the 2023 Charleston MSA Datacomp report, the average adjusted lot rent is $516 with average occupancy rates at 99% for all-age communities.
Utilities are city sewer and water. The utilities are direct billed, and the city maintains all the lines.
Strong demographics in the area. Within a 10-mile radius of the community, average household income is $97,298 with strong home values at $299,018.
The community is just outside Charleston, the second largest city in South Carolina known for its charming historic districts, a lively arts scene, numerous institutions of higher learning, miles of pristine beaches, and some of the best restaurants along the coast.
Parkview MHC. Trainer PA - Broker: Todd Fletcher, Andrew Shih, Braden Weaver, Samuel Rector
# Sites: 86 | 9.56 Acres
Over the course of its ownership, seller has vastly improved the tenant credit quality by removing non-paying and rule breaking tenants, tearing down older homes, and investing over $785k to bring in and repair homes to fill with new, well-screened residents.
Since purchasing the asset 4 years ago, seller has also invested over $800k in capital improvements including repaving all roads, a new underground electrical system and LED streetlights, water/sewer main upgrades, gravel driveways and walkways, and tree trimming and removal.
The current Owner is raising all tenants to $750 lot rent in 2024 (tenants have already been notified), which will add over $50K of additional annual site revenue for a new Owner. This rent increase is included on our proforma in the financial analysis section of the OM.
Value-add opportunity to develop approximately 25 new sites on a 2.15-acre parcel of land that is included with sale. The parcel currently has a small vacant convenience store that would need to be demolished. The 25 sites are fully entitled and approved with the Borough, with all permits and PUD still active.
The community also comes with a portfolio of 37 park owned homes. Of these, 27 are currently occupied through LTO structures with a total remaining balance of around $300,000 and an average monthly payment of $236. The remaining vacant homes are almost all in lease ready shape and owner expects to fill these quickly.
Parkview MHC has a recently originated Freddie Mac loan that must be assumed (see Loan Assumption Detail Chart in OM for more details).
Southeast San Antonio MHC Development, San Antonio TX - Broker: Andrew Shih, Todd Fletcher, Braden Weaver
6.37 Acres
Proposed project would be 626 sites developed over three phases with 250 sites in Phase I, 202 sites in Phase II, and 174 sites in Phase III. The community sits on 98 acres and will offer lot dimensions of 40’ x 110’ and 50’ x 110’.
The Owner has a detailed budget along with contractor bids (available after signing a CA). Ownership is willing to stay in as a minority sponsor or can be a JV partner to manage the entire development. They will also consider an outright sale where they do not stay involved. The group has significant experience with single family horizontal developments in the area.
All final permits can be pulled within 4 months. However, the Owner is holding off on the permitting in case a buyer or JV partner has changes to the business plan. The following permits/entitlements are required: Stormwater Quality Permit (SWQ); Post Construction Permit; Tree Permit; CPS Invoicing and Plan; Plat Approval; Water General Construction Permit (GCP); Sewer General Construction Permit (GCP).
Water/Sewer tap fees are currently $6,302 per pad and payable once a home is connected. The tap fees are included in the Owner’s budget. However, some developers push that cost to the home buyer which would save nearly $4 million in development costs.
Objective is to rely on the seller’s existing strategic relationship with leading home manufacturers who will setup staffed showrooms in the community to drive sales and leasing.
Some low leverage seller financing on the land might be available for a qualified buyer.
Property has convenient access to major thoroughfares (IH-10, 410 and 37) and will provide four distinct entry and exit points.
There is also an existing house on-site that can be converted to a clubhouse. The plan is to build out a high-end amenity center including playground, pool, dog park, gym, basketball and soccer courts.
The immediate vicinity includes multiple new residential communities where homes are selling for around $300K and manufactured home site rents are around $630 per month. Strong demographics in the area with average household incomes of $96K within a 3-mile radius and a total population of nearly 300K within a 10-mile radius of the site.
Waukon MHC, Waukon IA - Broker: Andrew Shih, Todd Fletcher, Braden Weaver, Samuel Rector, Jerry Hopkins
# Sites: 89 | 9.26 Acres
Value-add opportunity for a new owner to continue to grow revenue by bringing in and selling homes to fill the remaining lots. Filling the remaining vacant lots could add over $80K in annual site rental revenue for a new owner.
Further upside potential to increase lot rents over time to boost revenue. The current Owners already noticed tenants of a planned lot rent increase by $45 in April/May of this year, which should add over $38K in annual site rental revenue for the next owner. This is included in the Proforma of the Financial Analysis section on page 3 of the OM found in the Virtual Deal Room.
Another source of upside would be to sub-meter water/sewer and bill back tenants based on usage, which could add another $40K of annual revenue for the next Owner (assuming a 95% recapture rate).
The community is serviced by public utilities and features an attractive layout with off-street parking, mature trees, large lots, and onsite management. The community is also directly adjacent to the Waukon City Park and boasts 64 acres of open park, making it a fantastic amenity for residents.
Strong demographics with average household incomes and homes values of $86,014 and $280,752 within a 10-mile radius of the community.
The community sits within the highly rated Allamakee Community School District with 1,094 students enrolled and employs around 200 staff members.
COOPER CARDINAL
New!
East Evans Estates, Rogue River, OR - Broker: Jack A. Cardinal
Price: $590,000
Dean's Mobile Home Park, Tucson AZ - Broker: Jack A. Cardinal
Price: $590,000
Hide-Away-Harbor MH & RV Park, Astatula FL - Broker: Jack A. Cardinal
Price: $3,495,000 | # Sites: 60 | 7.3 Acres
Circle Oaks MHP, Fort Myers FL - Broker: Jack A. Cardinal
Price: $1,395,000 | # Sites: 16 | 0.96 Acres
Circle Oaks offers frontage along State Hwy 78 and is just steps away from US Hwy 41
Shangri-La MHP, Saint James City FL - Broker: Jack A. Cardinal
Price: $2,400,000 | # Sites: 31
J&S Fish Camp, Okeechobee FL - Broker: Jack A. Cardinal
Price: $3,000,000 | # Sites: 45 | 5.4 Acres
Naples MHP, Naples FL - Broker: Jack A. Cardinal
Price: $975,000 | # Sites: 15 | 2.5 Acres
Electric is sub-metered and Billed Back to all tenants.
Sites 1 – 5 offer 60 AMP electrical service to Pedestal Units, Sites 6 – 12 offer 200 AMP electrical service to Pedestal Units, and Sites 13 – 15 offer 30 AMP electrical service to Pedestal Units.
The Community is on a Well Water and Septic System with (7) Tanks. Trash is a Flat Monthly Fee ($40)
Tamarisk MHP, Palo Verde CA - Broker: Jack A. Cardinal
Price: $675,000 | 2.58 Acres
OTHER STREET
The Gables, Poughkeepsie NY - Broker: Enon Wrinkler
# Sites: 280
Prime location in Poughkeepsie, NY with proximity to essential services and transportation options including direct Metro North access to New York City
Highly desirable five-star community with many high-quality amenities in place 280 double wide lots, with ~100% occupancy at sale Strong home sales market for sustained occupancy rates with new homes at The Gables selling for $350,000+
Property taxes are passed through to the residents resulting in no tax burden to the community when 100% occupied with Tenant Owned Homes
Brooksville FL Portfolio, Brooksville FL - Broker: Armand Violi
Price: $5,500,000 | # Sites: 73
Newport Estates, Newport VA - Broker: Enon Winkler
Price: $850,000 | # Sites: 26
Immediate infill opportunity with two vacant sites remaining
Opportunity to achieve a total operating income of $140,943 by year three
Potential to achieve a cash-on-cash return of 15.17% over a three year holding period
Strong location outside of the Blacksburg-Christiansburg-Redford MSA which is home to 167,000+ residents and close to major thoroughfares including Interstate 81 and US Route 460
Jay-May MHP, Holiday FL - Broker: Armand Violi
Price: $1,100,000 | # Sites: 16
Spirit Lake Estates, Winter Haven FL - Broker: Armand Violi
Price: $950,000 | # Sites: 9
Immediate rental upside, rents below-market by ~$507/M
Opportunity to achieve a total operating income of $121,494 by year three
Potential to acquire a community in Florida at a 7.40% cap rate based on year one projections
Prime location in the Lakeland-Winter Haven MSA with access to major thoroughfares such as Interstate 4 and US Highway 17
Oak Manor MHP, Masillon OH - Broker: Russ Williamson
Price: $2,000,000 | # Sites: 22
Stabilized community on city utilities being billed-back to tenants
Opportunity to achieve a total operating income of $396,849 by year five
Potential to achieve a cash-on-cash return of 18.23% over a five-year holding period Excellent curb appeal with newer homes and clean look
Strong location in the Massillon-Canton MSA with 400,000+ residents and close proximity to Interstate 77 and Route 21
Bluebird Acres, Chicopee MA - Broker: Enon Winkler
# Sites: 169
Stabilized community with 97% occupancy and slight infill opportunity
Community serviced by public utilities
Recent infrastructure replaced throughout the community
Located in the Springfield MSA which is home to a population of 694,000+ residents and just minutes from the I-90 & I-91 interchange
Less than two and a half hours from major cities including New York City, Boston, Providence, and Hartford
High demand for low-cost housing with the median home cost of $272,100 and median two-bedroom apartments renting for $1,220/m in the area.
Lakeland Village, Lakeland FL - Broker: Enon Winkler
Price: $4,800,000 | # Sites: 67
Diverse, stabilized community with strong historical occupancy and performance
~85% of communities in the area are age restricted, offering a competitive advantage to Lakeland Village due to affordable housing demands
Below-market rents with immediate upside on the RV's as adjusted lot rents are currently ~$118 below-market
Community serviced by city utilities with MH tenants being expensed for their use; ability to pass through to RV tenants
Prime location with frontage along US Highway 92 between Tampa and Lakeland with easy access to Interstate 4
Washington Springs MHC, Okawville IL - Broker: Enon Winkler
Price: $650,000 | # Sites: 69
Immediate rental upside, lot rents currently below-market by $111/m compared to neighboring communities
Turnaround opportunity with thirty-two vacant lots ready to be filled for additional income
Community serviced by city utilities and direct-billed to tenants
Opportunity to increase operating income to $274,920 by year five
Potential to achieve a cash-on-cash return of 17.16% over a five year holding period
Community located along Interstate 64 and benefits from close proximity to the St. Louis MSA
Pleasant Hill MHP, Sylvester GA - Broker: Armand Violi
Price: $549,000 | # Sites: 26
Immediate rental upside, lot rents currently below-market by $86/M compared to neighboring communities
Opportunity to achieve a total operating income of $141,861 by year three
Potential to achieve a cash-on-cash return of 25.27% over a three year holding period
Immediate turnaround upside with five vacant park-owned homes to be rehabbed and sold
Sauk Valley Estates, Rock Falls IL - Broker: Armand Violi
Price: $450,000 | # Sites: 21
Seller financing opportunity - Seller willing to finance $315,000 with the following terms: $135,000 down, 5% rate, 5-year term with interest only payments the entire term
Ability to increase total operating income to $100,513 by year three
Opportunity to achieve a cash-on-cash return of 22.37% Immediate infill opportunity, three vacant lots to be filled and three vacant park-owned homes
Community located within the Sterling MSA and close to major routes such as Interstate 88 and U.S. Route 30 Park will benefit from hands-on management, current owner is hands-off and suffers from collection issues.
Trail Acres, Du Quoin IL - Broker: Armand Violi
Price: $300,000 | # Sites: 17
Favorable seller financing opportunity with the following terms: $210,000 note with $90,000 down, 5% interest only payments for five years
Immediate infill and turnaround opportunity, five homes can be repaired and sold and one vacant lot can be infilled
Community serviced by city utilities paid by the tenants
Opportunity to achieve a total operating income of $63,608 by year three Potential to achieve a cash-on-cash return of 22.94% over a three-year holding period
Park will benefit from hands-on management; current owner is hands-off and suffers from collection issues
Bradford Heights, Woodland PA - Broker: Enon Winkler
# Sites: 136
Seller financing available: 5–7-year term, 30-year amortization, 5 years I/O, 5.00% rate increasing 0.50% annually until Year 5
Opportunity to infill a mobile home community in a rapidly growing area with a large demand for affordable housing
Potential to develop additional sites alongside community currently in place
Community located close in proximity to Walmart Distribution Center
Community located adjacent to I-80
Hardin, Montana Portfolio, Hardin MT - Broker: Armand Violi
Price: $1,050,000 | # Sites: 42
Potential to convert the vacant park-owned homes into tenant-owned lot renters
Prospect of boosting the net operating income to $241,311 by year five
Potential to increase cash-on-cash return to 38.05% by year five
Opportunity to fill the remaining vacant lots
Communities serviced by city utilities and billed-back to tenants
Close proximity to Billings, Montana which is home to 117,000+ residents
Royal Oaks MHP, Little Rock AR - Broker: Enon Winkler
# Sites: 40
Immediate rental upside, lot rents currently below-market by ~$82/m
Opportunity to achieve a net operating income of $689,210 by year three
Immediate infill opportunity, 20 vacant lots to be filled for additional income
Prime location within the Little Rock MSA which is home to 750,000+ residents and close to major throughways including Interstate 30 and Interstate 40
Dogwood Estates, Lakeland FL - Broker: Enon Winkler
Price: $800,000 | # Sites: 22
Immediate rental upside, lot rents currently below-market by ~$160/m
Prospect of boosting the net operating income to $137,579 by year three
Opportunity to fill the 6 remaining vacant lots and 2 vacant park-owned homes.
Laporte Village, Laporte IN - Broker: Enon Winkler
# Sites: 224
Significant rental upside - lot rents currently below-market by ~$147/m
Immediate infill upside - opportunity to fill the remaining 15 vacant park-owned homes and 53 lots at the market rate
Higher quality asset with newer homes and strong curb appeal
Community serviced by city utilities
Prospect of boosting net operating income to $1,045,749 by year five
Wahpeton MHC, Wahpeton ND - Broker: Armand Violi
Price: $6,000,000 | # Sites: 130
Community serviced by city utilities which are billed back to tenants through Metron.
Immediate infill upside with 23 vacant lots, demand has been strong in the area as evidenced by the 18 RTO homes in place.
Community in good condition with minimal repairs and maintenance needed, there is strong curb appeal and yards are well maintained.
Park-Owned Home inventory primarily consisting of homes from 2013- 2017
Shady Acres MHP, Danbury CT - Broker: Armand Violi
Price: $3,750,000 | # Sites: 48
Opportunity to acquire a stabilized community in a desirable market with no rent control
Community almost fully occupied with strong rents in place
Limited competition in the immediate area with a demand for affordable housing, median home prices in the area are $270,000+
The local market can likely support higher MH rents, 1-bedroom apartments are $2,000+ on average and current lot rents in the community are well below 50% of that
NORTHMARQ
Taggin Wagon, Santa Ana CA - Broker: Jeff Benson, Sam Neumark, Palmer Lloyd
Price: $15,000,000 | # Sites: 78 | Cap Rate: 4.54%
Well-kept community in one of the Nation’s Strongest Housing Markets
78 pads, primarily tenant-owned homes
Park is serviced by city water & sewer services
One of Southern California’s most affluent submarkets, with average home values exceeding $800,000
Year 1 Projected Cap Rate of 4.54%
Opportuny to gradually increase rents to market upon turnover
Santa Ana is the second most populous city within Orange County. OC is home to iconic destinations and diverse industries including technology, healthcare, tourism, and manufacturing
Southern California is consistently ranked as one of the United States’ most attractive housing markets and is expected to continue to grow
Baldwin MHP, Darlington SC - Broker: Chris Michl, Paul Smith, Jason Long
Price: $1,450,000 | # Sites: 32
32-site mobile home community located in Darlington, South Carolina
Majority tenant owned homes
91% occupancy
Roads recently asphalted
City water serviced by Darlington Water & Sewer Authority. Private septic for sewer
Value adds opportunities include filling vacancies and increasing lot rent which is below market
Located 20 minutes from the Florence which has a metro area population that exceeds 200,000 people
Average salary in Florence metro is $48,328
Median home value is $160,000 with the one-year appreciation rate at 16.51%. National average is 8.27%.
Darlington one-bedroom rents average $690/month and two-bedroom rents average $840/month
Gettysburg Commons, Gettysburg PA - Broker: Ari Azarbarzin, Anthony Pino
# Sites: 233 | 68 Acres
Gettysburg Commons is an entitled and approved development opportunity allowing for 233 mobile homes, sitting upon 68 acres of land in Bonneauville.
The Property is just 36 miles south of Harrisburg, the state capital while the outer suburbs of Washington, D.C., and Baltimore are within a one-hour drive.
Adjacent to the Bonneauville water treatment plant allowing for ease of access and connection to public water.
Compelling development opportunity with lot rents of $600+ at adjacent Bonneau Heights Manufactured Home Community.
Bonneauville is close to several parks and outdoor recreational areas, including Gettysburg National Military Park, Codorus State Park, and Michaux State Forest.
Gettysburg Commons is located 5 miles from Gettysburg College and the Historic Battlefield of Gettysburg, which receives over one million tourists on annual basis.
The Property is within a 10-mile radius of Harrisburg International Airport, Lake Heritage & Gettysburg Marine Center, Happy Ramblers Motorcycle club, Flatbush Golf Course, and Swan Lake Stables.
Expanding warehousing and logistics hub with major nearby employers such as Utz Quality Foods, Knouse Foods, and R.H Sheppard.
Diamond Valley MHC, Black Diamond WA - Broker: Kevin Adatto, Jeff Benson, Sam Neumark
# Sites: 122 | 21.22 Acres
The property is located within the most affluent submarkets of the Seattle MSA, with average home values exceeding $895,000 according to Redfin.
Housing stock is comprised of all tenant-owned single and double wide homes.There is a significant amount of new housing stock in the community.
Utilities are all on city services.
Washington is ranked as one of the nation’s strongest housing markets and is expected to continue to grow.
Upside opportunities include filling four vacancies and raising rents to market. Based on nearby comparables, there is approximately 10% rental upside.
Opportunity to install covered parking at the community and implement a monthly covered parking fee of $25-$30/space/month.
Black Diamond is the fastest growing area in King County, having grown by 35% in 2022.
Tanglewood MHC, Rochester WA - Broker: Kevin Adolfo, Jeff Benson, Sam Neumark
Price: $5,250,000 | Price per Site: $86,066 | Cap Rate: 5.13% | # Sites: 61
Park serviced by the Rochester Water Association & septic system.
Majority of the housing stock are double wide homes.
All tenant-owned homes (except for one POH, not included in sale)
Upside opportunities include bringing rents to market, filling vacancies, and passing through utilities.
Average home values in Rochester, WA are $474,887.
There is no rent control in the state of Washington.
Happy Hollow MH/RV Park, Lakeland FL - Broker: Robert, Hernandez, Jeff Benson, Sam Neumark, Palmer Lloyd
Price: $1,225,000 | Cap Rate: 8.08% | # Sites: 20
Average home values in Lakeland are $318,000; up over 60% from 2020 average home values (Zillow)
The city is focused on infrastructure, healthcare, education and affordable housing. “This is a city that is 260,000 today and will be 500,000 by 2035,” Mutz (Lakeland Mayor) said. A lot of the growth can be attributed to the cost of living, the expansion of the corporate office for Publix and significant growth from Amazon.
Year one projected cap rate of 8.08%
Upside opportunities include raising rents, filling a vacancy, repaving roads, fully passing through utilities, and gradually increasing the quality of the housing stock by adding new park models
Additional value-add opportunity includes converting a standing building on the premises which is currently vacant into a manager’s office, laundry facility, or clubhouse
4 Tenant Owned Mobile Homes , 12 Tenant owned RV’s, 3 park-owned Mobile Homes, 1 park-owned RV
Park is serviced by city water and septic
Lakeland population poised to double as the local economic drivers ramp up production in the Florida sub-market
The Pacific Northwest Portfolio, Woodland and Roseburg, WA & OR - Broker: Matt Lipson, Kevin Adolfo, Jeff Benson, Sam Neumark
Price: $14,300,000 | Price per Site: $67,136 | Cap Rate: 5.09% | # Sites: 213
A total of 213 spaces across three manufactured housing communities in Woodland, WA and Roseburg, OR
Can be sold as a portfolio, sub-portfolio or individual basis.
Primarily tenant-owned homes.
Blended year one cap rate is 6.46%.
There is no rent control in Washington. Oregon rent control allows for increases up to 7% + CPI (capped at 10%) annually.
Average home values in Woodland, WA are $552,933.
Average home values in Roseburg, OR $347,864.
Parkrose Mobile City, Portland OR - Broker: Chris Mich, Paul Smith
# Sites: 88 | 3.67 Acres
Birch Knoll Mobile Home Park, Hazelton PA - Broker: Anthony Pino, Ari Azarbarzin
# Sites: 92
Immaculately maintained community with sidewalks, off-street parking, and streetlights
Proven value-add story: Current lot rents are $165 per month below nearby comparables
Ability to implement immediate rent increase (most recent rent increase in 2021)
Public Utilities (City sewer and water)
Submetered water
25 Park Owned Homes | 22 are on rent to own contracts | 1 is the management office.
67 Tenant Owned Homes
Two expansion sites in the community that will allow for an additional 34 leasable income producing lots
First sale of the community since 2009
Birch Knoll is within just a day’s drive of 40% of the Nation’s population and 25% of the Nation’s economic output
Surrounded by robust industrial growth including a 1.2M square foot logistics center that is leased to Samsung.
Saucon Valley Crossing, Center Valley PA - Broker: Anthony Pino, Ari Azarbarzin
# Sites: 71 | ±8.155 Acres
Significant untapped revenue, with existing lot rents $73 below nearby comparable
64 of 65 occupied lots are Tenant Owned Homes
One Park Owned Home on site which is a SFH
Ability to implement immediate rent increase (most recent rent increase in 2021)
Public Utilities (City sewer and water)
Sub metered Water
New water and sewer lines installed in 2021
First sale of the community since 2015
High visibility location along Route 309, a major transit artery linking Philadelphia and Allentown
Located in affluent Center Valley, PA with an average median household income of $161,037 (54% above the national average)
Warehousing and logistics hub with major nearby employers such as Amazon, Aldi, Crayola, Olympus, and Air Products.
Brookside Mobile Home Park, Bishop, CA - Broker: Jeff Benson, Sam Neumark, Palmer Lloyd
Price: $3,450,000 | Price per Site: $76,667 | Cap Rate: 5.02% | # Sites: 45
A buyer will be able to bring rents to market by issuing a rent increase upon ownership.
The year 1 cap rate is 5.76%.
The park location is at the foot of Mammoth Mountain, a world class skiing and recreation area that attracts over 4 million visitors annually. Many residents of Bishop commute to the surrounding ski areas.
California has consistently ranked as one of the nation's hottest housing markets and continues to demonstrate year-over-year growth.
Rosewood Manor, Hoquiam, WA - Broker: Don Vedeen, Jared Bosch, Chris Michl, Paul Smith
# Sites: 46 | 10.80 Acres
Located on Gray’s Harbor, splitting the southern half of Washington’s Pacific coast with the northern Olympic Peninsula
Asset features city utilities with tenant reimbursements for water/sewer in place
100% Tenant owned home community with pride of ownership.
Hoquiam WA Median home sale price $300K, up 36% YOY
Ability to add additional 13 sites, permit was previously granted by city.
PARK BROKERAGE
Desert Pines Resort, Prescott Valley AZ - Broker: John Sheedy
# Sites: 179
Alisal Country Estates, Salinas CA - Broker: John Sheedy, George Waidelich
# Sites: 82
Brand new to the market is a well-located all-ages mobile home park located in the high demand housing market of Salinas, California.
This property is on city services with metered utilities and family seller who has owned the property for 25 years.
All the homes are owned by the tenants and the community features over 75% doublewide homes.
The park was built in the 1970’s.
The city is known as the “Salad Bowl of the World” due to its importance in the production of lettuce, broccoli, strawberries, and other fruits and vegetables. The population of Salinas is about 155,000 people and the median age is 31 years old with a household income is $75,747.
Offers are to be due on September 25, 2023, at 9am local time.
NAI OHB
Corpus Christi Mobile Home Park Development, Corpus Christi TX - Broker: Jesse Pine
# Sites: 431 | Price per Site: $14,000 | 90 Acres
Property sits directly across from a national brand MH community with consistent high occupancy
Developable area of 74.8 acres
Typical mobile home lot sizes 45’x110′ and 50’x110′
City water and sewer available to property*final price negotiable based on final permitted layout and site count.
BERKADIA
Illinois - Minnesota MHC Portfolio, MN, IL - Brokers: Ian Hilpl, Brian Hummell, Kevan Enger, Hunter Larocca
# Sites: 806
UPSIDE IN FILLING VACANCY
SCALED ENTRY INTO ILLINOIS
PROXIMITY TO PONTIAC, SPRINGFIELD, AND DAVENPORT/MOLINE IL
PUBLIC UTILITIES AT DECATUR, CANDLELIGHT & AUDUBON
ABILITY TO SHARE STAFFING AT DECATUR ESTATES & REDWOOD MHC
STORAGE UNITS AT REDWOOD ALLOW FOR MULTIPLE SOURCES OF CASH FLOW
Majestic Hills MHC Development, Radcliff, KY - Broker: Ian Hilpl, Brian Hummell, Kevan Enger, Hunter Larocca
Holly Tree Village, Elon NC - Broker: Brian Hummell, Kevan Enger, Ian Hilpl, Hunter Larocca
# Sites: 81
College Station MHC, College Station TX - Broker: Ian Hilpl, Brian Hummell, Kevan Enger, Hunter Larocca
# Sites: 655
ENTRY INTO PROMINENT COLLEGE STATION MARKET
OWNED BY ORIGINAL DEVELOPER & HIGH BARRIER TO ENTRY
EXPANSION OPPORTUNITY TO INCREASE SITE COUNT TO 1000+
ALTERNATIVE APPROACH TO AFFORDABLE STUDENT HOUSING
ALL RESIDENT OWNED HOMES & LOW OPERATIONAL OVERSIGHT
IMMEDIATE RENTAL UPSIDE
Lake Estates MHC, Warsaw IN - Broker: Ian Hilpl, Brian Hummell, Kevan Enger, Hunter Larocca
# Sites: 123
STABILIZED OCCUPANCY
PROXIMITY TO FORT WAYNE, IN
MAJORITY RESIDENT OWNED HOMES
LAKE ACCESS
ATTRACTIVE ON-SITE AMENITIES INCLUDING:
SWIMMING POOL, CLUBHOUSE, BOAT/TRAILER STORAGE, BOAT PIERS & LAUNDRY FACILITYRECENT CAPITAL IMPROVEMENTS INCLUDING:
WATER SYSTEM UPGRADES, SEA WALL REPLACEMENT, & POOL IMPROVEMENTSCHARMING NEIGHBORHOOD FEEL
# Sites: 427
Overland MHC, Council Bluffs IA - Broker: Ian Hilpl, Brian Hummell, Kevan Enger, Hunter Larocca
# Sites: 103
IDEALLY LOCATED IN OMAHA MSA
BELOW MARKET RENTS
OPPORTUNITY TO IMPLEMENT UTILITY RECAPTURE
ATTRACTIVE ASSET PROFILE
AGENCY FINANCING
# Sites: 201
SCALED ENTRY INTO MARKET
TURNKEY ASSET
SHARED STAFFING CAPABILITIES
PUBLIC & DIRECT BILLED UTILITIES AT ARROWWOOD & BRIDGEWATER BAY
NEW HOME INVENTORY AT BRIDGEWATER BAY
STRONG OCCUPANCY WITH ABILITY TO FILL REMAINING VACANT HOMES AT BRIDGEWATER BAY
WELL-MAINTAINED COMMUNITIES
# Sites: 96
STRONG LOCATION WITHIN DALLAS-FORTH WORTH MSA
LACK OF AFFORDABLE HOUSING IN THE IMMEDIATE AREA
ANNA, TX MEDIAN HOME COST - $365,400
CURRENT RESIDENT OWNED LOT RENTS ARE $516 LESS THAN SURROUNDING MARKET COMPETITION
CURRENT LOT RENT AVERAGE IN THE IMMEDIATE MARKET IS $934
ATTRACTIVE TURN-KEY ASSET WITH OPERATIONAL EFFICIENCIES
EXPANSION OPPORTUNITY
RECENT CAPITAL IMPROVEMENTS MADE
NEW PLAYGROUND INSTALLATION, NEW MAILBOX KIOSK, EXTERIOR APARTMENT RENOVATIONS & INTERIOR RENOVATION ON ONE OF THE FOUR APARTMENTS
Merrimac Manor MHC, Huntsville AL
# Sites: 174
FAVORABLY POSITIONED IN GROWING HUNTSVILLE MSA
89% ECONOMIC OCCUPANCY
BELOW MARKET RENTS
EXCELLENT CURB APPEAL | RECENT CAPITAL IMPROVEMENTS
PUBLIC UTILITIES | DIRECT BILLED WATER, SEWER & ELECTRIC
ATTRACTIVE ASSUMABLE FINANCING
# Sites: 39
STABILIZED TURN-KEY ASSET
STRONG IN-PLACE RESIDENT BASE & TENANT WAITING LIST
LOCATED 30 MINUTES OUTSIDE LAS VEGAS
MASSIVE DEMAND FOR AFFORDABLE HOUSING DUE TO GROWTH IN THE INDIAN SPRINGS MARKET
BELOW-MARKET RENTS
PUBLIC WATER & SEWER WITH RECAPTURE UPSIDE
UTILITY CONNECTION VALUE AT $65K PER LOT. BEAZER HOMES PURCHASED RIGHTS AT THIS AMOUNT FROM NEIGHBORING MHP.
# Sites: 80
STABLE 88% OCCUPANCY WITH ABILITY TO INCREASE BY LEASING UP REMAINING POH
MINIMAL POH / MAJORITY RESIDENT OWNED HOMES
12 BRAND NEW HOMES WITH ASSUMABLE LOAN
PUBLIC UTILITIES
ACCESSIBILITY TO INDIANAPOLIS
NMHC GROUP
Clifton Forge Portfolio, Clifton Forge VA
Price: $3,999,999 | # Sites: 135
Maple Ridge Mobile Home Court, Poynette WI
Price: $750,000
Deer Run Estates & Red’s MHP, Baraboo & Wisconsin Dells WI
# Sites: 322
Price: $6,000,000 | # Sites: 82
Southern Pennsylvania, Waynesboro PA
# Sites: 109
Northwest New Jersey Portfolio, Oxford & Long Valley NJ
# Sites: 62
Eastern Iowa Portfolio, Maquoketa IA
Price: $2,500,000 | # Sites: 139
Seven Cedars Mobile Home Park, Statesville NC
Price: $2,500,000 | # Sites: 83
Fox Creek Mobile Home Park, Jacksonville NC
Price: $1,890,000 | # Sites: 33
Eastgate Mobile Home Park, Ephrata PA
Price: $2,300,000 | # Sites: 36
Price: $3,000,000 | # Sites: 54
Carol Lynn Resorts Campground, Woodbine NJ
# Sites: 239
Deubler’s Mobile Homes, Kunkletown PA
Price: $1,850,000 | # Sites: 50
# Sites: 125