MHC Listings Rundown 07/10/2024
Listings Rundown - Summary Updates
Wisely Commercial - Added 1 listing.
Marcus & Millichap - Added 2 | Removed 6 listings.
Yale - Added 1 listing.
CBRE - Added 1 listing.
Sunstone - Added 1 listing.
Other Street - Removed 3 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
New!
West C Street, Torrington WY - Broker: Adam McNeil
Price: $375,000 | Price per Site: $46,875 | Cap Rate: 8.88% | # Sites: 8
All Rental Community
City Water & City Sewer, Direct Billed
Management In-Place
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
New!
30 MHC Portfolio - North Carolina, Morganton NC - Broker: Glenn D. Esterson, Jonathon McClellan, Kyle Baskin, Connor Outcalt, Michael DiCillo Jr.
# of Sites: 7.04 | 50 Acres
The communities are spread across eight states, providing geographic diversification that mitigates regional market risks and leverages different economic strengths.
The portfolio's 3,389 sites offer substantial scale, enabling economies of scale in management and operations, and enhancing the overall investment's stability and potential for growth.
With an 81% occupancy rate, the communities are well-established with a solid resident base, ensuring immediate and steady rental income. There is also room for increasing occupancy.
30 MHC Portfolio - Indiana, Churubusco, IN - Broker: Glenn D. Esterson, Jonathon McClellan, Kyle Baskin, Connor Outcalt, Michael DiCillo Jr.
# of Sites: 70 | 7.34 Acres
The communities are spread across eight states, providing geographic diversification that mitigates regional market risks and leverages different economic strengths.
The portfolio's 3,389 sites offer substantial scale, enabling economies of scale in management and operations, and enhancing the overall investment's stability and potential for growth.
With an 81% occupancy rate, the communities are well-established with a solid resident base, ensuring immediate and steady rental income. There is also room for increasing occupancy.
Midland County Mobile Home & RV Park, Midland TX - Broker: Skyler Henderson, Brad Dorsey
Price: $1,300,000 | Price per Site: $38,235 | # of Sites: 34 | Cap Rate: 10.93% | 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
Kremmling Mobile Home Park, Kremmling CO - Broker: Barry Higgins
Price: $1,800,000 | Cap Rate: 6.49% | 0.77 Acres
Extreme Lack of Affordable Housing in Kremmling/Steamboat MSA
Several tenants Commute 52 Miles to Steamboat Resort (Top 3 Resort in CO)
Median Home Price in Steamboat Springs Exceeds $1.1 Million (Realtor.com)
Kremling Falls About Halfway Between Summitt County and Steamboat Springs
19 Tenant-Owned Homes, 1 Park-Owned Home
All Public Utilities, Directly Billed to Tenants
Immediate Upside in Rents
Kremmling is a Year-Round Tourism Mecca for Hunting and Fishing
Mountain View Park, Santa Paula CA - Broker: Rick Gordon, Dustin B. Wilmer
Price: $3,395,000 | Price per Site: $73,804 | Cap Rate: 4.85% | # 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
3-Park Utah Portfolio, Tremonton UT - Broker of Record: Adam Lewis
Price: $6,425,000 | Price per Site: $94,485 | Cap Rate: 5.20% | # Sites: 68 | 5.52 Acres
67 MH Site | 1 SFR 3-Park Portfolio in Salt-Lake City Metro
3 Parks located in Tremonton, Toole & Ogden Utah
City Water & City Sewer | Direct-Billed Electricity
Flat-Rate Water & Sewer | No Gas | Trash Included in Rent
All Parks are 100% Occupied
High-Demand, Low Velocity & Vacancy Market
Well Below Market Rents
All Parks Being Sub-Metered for W/S w/ Metron Services and Installation of New Signage is Underway
Silsbee Mobile Home Park, Silsbee TX - Broker: David Tietz, Hudson Silverman, Matt Wagner
Price: $1,400,000 | Cap Rate: 9.86% | 3.00 Acres
Tenants Directly Billed All Utilities
20% Below Market Rents
All Park Owned Homes
Fully Occupied with a Waitlist
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
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
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
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
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
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
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
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
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.
30 MHC Portfolio - South Carolina, Rock Hill SC - Broker: Glenn D. Esterson, Jonathon McClellan, Kyle Baskin, Connor Outcalt, Michael DiCillo Jr.,
# Sites: 130 | 70.00 Acres
The communities are spread across eight states, providing geographic diversification that mitigates regional market risks and leverages different economic strengths.
The portfolio's 3,389 sites offer substantial scale, enabling economies of scale in management and operations, and enhancing the overall investment's stability and potential for growth.
With an 81% occupancy rate, the communities are well-established with a solid resident base, ensuring immediate and steady rental income. There is also room for increasing occupancy.
30 MHC Portfolio - Kentucky, Shepherdsville KY - Broker: Glenn D. Esterson, Jonathon McClellan, Kyle Baskin, Connor Outcalt, Michael DiCillo Jr.
# Sites: 560 | 14.00 Acres
The communities are spread across eight states, providing geographic diversification that mitigates regional market risks and leverages different economic strengths.
The portfolio's 3,389 sites offer substantial scale, enabling economies of scale in management and operations, and enhancing the overall investment's stability and potential for growth.
With an 81% occupancy rate, the communities are well-established with a solid resident base, ensuring immediate and steady rental income. There is also room for increasing occupancy.
30 MHC Portfolio - Louisiana, Lake Charles LA - Broker: Glenn D. Esterson, Jonathon McClellan, Kyle Baskin, Connor Outcalt, Michael DiCillo Jr.,
# Sites: 1,108 | 60.00 Acres
The communities are spread across eight states, providing geographic diversification that mitigates regional market risks and leverages different economic strengths.
The portfolio's 3,389 sites offer substantial scale, enabling economies of scale in management and operations, and enhancing the overall investment's stability and potential for growth.
With an 81% occupancy rate, the communities are well-established with a solid resident base, ensuring immediate and steady rental income. There is also room for increasing occupancy.
30 MHC Portfolio - Georgia, Ellenwood GA - Broker: Glenn D. Esterson, Jonathon McClellan, Kyle Baskin, Connor Outcalt, Michael DiCillo Jr.,
# Sites: 189 | 20.00 Acres
The communities are spread across eight states, providing geographic diversification that mitigates regional market risks and leverages different economic strengths.
The portfolio's 3,389 sites offer substantial scale, enabling economies of scale in management and operations, and enhancing the overall investment's stability and potential for growth.
With an 81% occupancy rate, the communities are well-established with a solid resident base, ensuring immediate and steady rental income. There is also room for increasing occupancy.
30 MHC Portfolio - Ohio, Oregonia OH - Broker: Glenn D. Esterson, Jonathon McClellan, Kyle Baskin, Connor Outcalt, Michael DiCillo Jr.,
# Sites: 74 | 10.00 Acres
The communities are spread across eight states, providing geographic diversification that mitigates regional market risks and leverages different economic strengths.
The portfolio's 3,389 sites offer substantial scale, enabling economies of scale in management and operations, and enhancing the overall investment's stability and potential for growth.
With an 81% occupancy rate, the communities are well-established with a solid resident base, ensuring immediate and steady rental income. There is also room for increasing occupancy.
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.
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
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.
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
New!
MH Community, Gainesville Metro FL - Broker: James Cook
Price: $9,500,000 | Price per Site: $45,150 - $67,750 | 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 amenitized, 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
Hybrid RV & MH Park, Southeast Alabama - Broker: Charles Harrison
Price: $8,250,000 | Price per Site: $40,000 - $53,350 | Cap Rate: 8.09% | # Sites: 150-200 | 70 Acres
Hybrid MH and RV Community
Diverse Local Economy
Sub-Metered Electricity
Expansion Opportunity
Scenic Property with Amenities
2 - MHC Portfolio, Lake Isabella & Apple Valley, CA - Broker: Dan Cook
Price: $12,800,000 | Price per Site: $60,500 - $90,750 | Cap Rate: 4.80% | # Sites: 100-125 | 15-20 Acres
No Rent Control: Allows for strategic rent increases without restrictions
Attractive Financing: Owner willing to finance at 5% interest only for 5 years
Significant Lease Up Potential: Vacancies offer rapid lease up income growth
Park Owned Homes: Multiple homes for sale, providing additional revenue
Infrastructure Development: Expansion of transport networks and train stations
5-MHC Portfolio, Rawlins & Saratoga WY - Broker: Brian McDonald
Price: $18,500,000 | Price per Site: $50,650 - $61,900 | Cap Rate: 7.24% | # Sites: 200-250 | 45 Acres
Opportunity to lease up 30+ spaces with demand from wind energy project
150+ park-owned homes 2006 or newer, 40+ homes less than five years old
All five parks have municipal water and sewer
Add 18 spaces at park with waiting list and water/sewer line already in
Rare opportunity to enter market with portfolio and economies of scale
MHP, Carlsbad - Artesia NM MSA - Broker: Dan Cook
Price: $1,700,000 | Price per Site: $38,750 - $51,650 | Cap Rate: 8.25% | # Sites: 30-40 | 5 Acres
Significant upside with lease-up potential and long-term stability
Outsized effective gross income projected to rise from $199K to $316K in 5 years
Advantageously located to meet New Mexico’s rising need for affordable housing
Internal Rate of Return (IRR) is projected to achieve 27.1% by Year 5
Single-family residence available immediately for on-site management or rental
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
Upper Midwest MHC Portfolio - Broker: Ken Schefler
# Sites: 1000
Strong Concentration Around Single MSA
MHC Portfolio, Upper Midwest - Broker: Ken Schefler
Price: $30,000,000 | # Sites: 500+
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: $1,650,000 | Price per Site: $38,750 - $51,650 | Cap Rate: 5.99% | # Sites: 75-100 | 5 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
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
3-MHC Portfolio, South Bend, IN - Kalamazoo, MI Region - 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 Portfolio, Tampa - Crystal River, FL Region - Broker: James Cook
Price: $9,400,000 | Price per Site: $75,050 - $93,800 | Cap Rate: 4.97% | # Sites: 100-125 | 14 Acres
2 Senior MHC’s Within 25 Minutes Of Each Other
Majority of Sites Feature Double Wides
All Sites Are Connected to Municipal Water & 2/3rds Connected to Muni. Sewer
15-20% Below Market Rents
Located In the Greater Tampa Bay MSA, 7th Hottest Metro Nationwide
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
Two MHC Portfolio, East St. Louis, IL MSA - Broker: Ken Schefler
Price: $30,000,000 | # Sites: 300+ | Cap Rate: 3.00%
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
Six MHC Portfolio, Greater Houston MHC - Broker: Dana Smith
Price: $30,500,000 | Price per Site: $88,900 - $106,700 | Cap Rate: 5.31% | # Sites: 250-300
5 communities all within a ~70-mile radius all in the Houston MSA providing ease for economies of scale and bolt on properties.
Below market rents in a very high demand market.
Low R&M costs, and a manager in place to manage all 5 properties.
Major value in privately owned utility system with rate order allowing rights to distribute water to be bought wholesale sold retail. Municipal utilities throughout portfolio.
Low percentage of POH.
CBRE
New!
Mint Canyon Mobile Manor, Canyon Country CA
Price: $2,600,000
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
Village Green MHP, Utah USA - Broker: Elias Conrad
# Sites: 196
2 Community Portfolio, Columbia MO - Broker: Sammy Deeb
# Sites: 296
Oakdale MHP - Los Angeles, Sunland CA - Broker: Sammy Deeb, Ahmad Alassadi
Price: $11,000,000 | # Sites: 87
Northern CA Portfolio, Crescent City, CA - Broker: Joel Sachs
Price: $7,300,000 | # Sites: 145
Tall Pines Trailer Park, Blakely GA - Broker: Omar Elassadi
Price: $2,000,000 | # Sites: 50
Potential for rent increase
City Utilities
Tenants pay for Power, Water, Sewer & Trash
On-sight manager
$35k Bob Cat & $13k Lawn Mower Included
Park located about 32 miles NE of Dothan, AL
Carols Mobile Home Court, Dickinson ND - Broker: Nick VanDer Sluis
# Sites: 70
Creekside Estates, Rocky Point NC - Broker: Ward Saunders, Carter Miller
Price: $4,000,000 | # Sites: 233
Price: $1,500,000 | # Sites: 30
Confidential 2 Park OH Portfolio, Ohio USA - Broker: Nick VanDer Sluis
Price: $4,850,000
Yorkshire Villas, Utah USA - Broker: Elias Conrad
Price: $1,200,000
Elm Ridge MHP, Englewood CO - Broker: Sammy Deeb
# Sites: 55
NM / West TX Portfolio, New Mexico USA - Broker: Joel Sachs
# Sites: 217
7.7% cap rate
217 Lots
Strong going in income
Upside on rents and infill
Strong local economy
Mountain West Community, California - Broker: Sammy Deeb, Elias Condrad
Crestlawn Village, Ashtabula OH - Broker: Nick VanDer Sluis
Price: $5,000,000.00
SUNSTONE
New!
Jordan Park, Gary IN - Broker: Kolman Bubis, Zach Sheck
Price: $3,428,000 | # Sites: 97
8%+ asking CAP rate
Conveniently located just south of I-80, approximately 30 miles southeast of Chicago
76% occupancy with potential for increased value by filling vacant sites
Water, sewer, and trash costs are billed back to tenants
60% of community owned homes are 2019
Close to Indiana University – Northwest, Hard Rock Casino and Highland Grove Shopping Center
Kickapoo Village, Bethalto IL - Broker: Kolman Bubis
Price: $3,950,000 | # 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.
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
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
106 Sites in San Antonio MSA - Broker: Casey Thorn, Robert McBroom
Price: $8,995,000 | # 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.
Central/Eastern MI 4-Property Portfolio - Broker: Kolman Bulbis
Price: $13,960,000 | # 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 sub metered with new Metron meters. Breckenridge is direct billed.
Strong preference will be given to portfolio offers, but individual offers on Saginaw will be considered.
San Antonio 2 Park Portfolio, San Antonio TX - Broker: Casey Thorn, Tony Houchin
Price: $1,550,000 | # Sites: 39
95% occupancy rate
All public utilities
Quick access to downtown San Antonio
Leaning Oaks & Maple Leaf, Houston MSA - Broker: Casey Thom and Hudson Bird
Price: $5,230,000 | # 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
Hub City, Alice TX - Broker: Tony Houchin
Price: $1,500,000 | # Sites: 34
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
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.
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.
Plattsburgh MHC Portfolio, Plattsburgh NY - Broker: Andrew Shih, Todd Fletcher, Braden Weaver, Samuel Rector
With lot sizes large enough to accommodate newer size homes and currently no park owned homes, value-add opportunity to add homes and fill up the park. Increasing occupancy by 15% (or 22 sites) would add over $90K of additional annual lot rental revenue for a new owner.
New move-in rents will be at $475 within the next few months, or $118 higher than the current average. There is a tremendous opportunity to capture the added revenue upon turnover. If turnover is 20% annually, that would add over $20K in additional annual lot income going forward.
Rents are under market and increasing existing tenants by 3% per year will add around $10K of additional lot rental revenue each year. According to the NY Housing Stability & Tenant Protection Act of 2019, MH owners cannot increase rent more than 3%, except if justified by an increase in operating expenses which can include capital expenditures. It is our understanding that under the state rent control rents can increase up to 6% when including amounts spent by a owner on capital improvements.
Strong demographics in the area with average household incomes and housing values at $82,280 and $243,152, respectively, within a 10-mile radius of the communities. 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 communities offer.
Attractive basis below replacement cost.
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.
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
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)
OTHER STREET
New!
Jay-May MHP, Holiday FL - Broker: Armand Violi
Price: $1,100,000 | # Sites: 16
Valley MHP, Castroville TX - Broker: Enon Winkler
Price: $3,000,000 | # Sites: 72
Seller financing opportunity - $750,000 down payment, 5% interest rate with payments amortized over 30 years with a flexible term
Immediate rental upside opportunity, lot rents currently below-market by ~$107/M compared to neighboring communities in the San Antonio MSA, home to 2.6M residents
13.57% day one cash-on-cash return
Opportunity to infill the remaining six vacant RV sites Potential to achieve a total operating income of $420,402 by year three
Opportunity to achieve a cash-on-cash return of 20.86% over a five year holding period
Ability to bill back tenants for water and sewer and tie into municipal connection
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
Black River Estates, Black River NY - Broker: Enon Winkler
Price: $1,600,000 | # Sites: 77
Immediate infill opportunity allowing a new investor to infill the remaining vacant lots at or above market rates
Public water and sewer with opportunity to bill-back to tenants
Fort Drum, a 12,000+ resident military base is located less than one mile from the community
Fort Drum was recently chosen to house the U.S. Army Multi-Domain Task Force #2 which will result in 1,500 additional troops to the area
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
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.
Cocheco River Estates, Rochester NH - Broker: Enon Wrinkler
# Sites: 157
Opportunity to acquire a pristine, five-star age-restricted 55+ community with institutional quality curb appeal
100% tenant-owned community at 100% occupancy
Significant rental upside with lot rents currently under market by ~$140/M compared to neighboring communities when adjusting for utilities
Community serviced by city utilities with opportunity to bill back water expenses to residents
Rochester, NH has been absorbed by the overall growth in the coastal New Hampshire area with many homes at Cocheco River Estates selling in excess of $200k
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
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.
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
Brooksville FL Portfolio, Brooksville FL - Broker: Armand Violi
Price: $5,500,000 | # Sites: 73
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
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
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
Royal Oaks MHP, Little Rock AZ - Broker: Enon Winkler
# Sites: 164
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
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
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.
NORTHMARQ
Caravan Oasis, Yuma AZ - Broker: Palmer Lloyd, Jeff Benson, Sam Neumark
Price: $12,950,000 | Price per Site: $25,000 | # Sites: 518
Alpine Village, Woodland Park CO - Broker: Dave Martin
Price: $2,600,000 | Price per Site: $65,000 | Cap Rate: 6.70% | # Sites: 40
Well-kept Community in a Growing Pocket of Colorado
40 pads - 39 Mobile Home Pads, 1 Stick Built House Pad
Park is serviced by well water & city sewer services
Woodland has been experiencing a steady growth pattern which is expected to continue, with average home values rising by 16.7% over just the last year alone (per: redfin.com)
Day-1 Cash Flow + Value-Add Opportunity
Current Cap Rate of 6.70%
Year 1 Projected Cap rate of 7.32%
Upside opportunities include: paving roads, raising rents, adding amenities, and potential expansion of the park
Market Growth
Woodland Park’s real estate market is expected to witness a 7.7% increase in median home prices over the next year, presenting a lucrative investment opportunity for affordable housing (per: realtor.com)
The city of Woodland Park has experienced steady population growth over the past 10 years driven by serene natural surroundings and proximity to Colorado Springs ( per: worldpopulationreview.com)
A 2016 Teller County assessment outlined the need for 1262 affordable housing units by 2025 to meet growing demand, a threshold that has been yet to be met
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%
Opportunity 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
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
Vagabond Mobile Home Park, Santa Fe NM - Broker: Sam Neumark, Jeff Benson, Palmer Lloyd
Price: $3,100,000 | Price per Site: $79,487 | Cap Rate: 6.23% | # Sites: 39
Day-1 Cash Flow + Value-Add Opportunity
• Year 1 Projected Cap Rate of 6.13%
• Upside opportunities include: filling three vacancies, fully passing through utilities, gradually increasing quality of housing stock by adding new park models and single wide homes.
39-Space MHP in Prime Santa Fe Location
• Primarily tenant-owned homes
• Park is serviced by city water & sewer services
• Local economic drivers include the tourism, arts, and government industries.
Market Growth
• Average home value in Santa Fe is $584,000
• Santa Fe, NM home values have risen by 4.2% over the past year
• Restaurants, grocery stores, entertainment, venues and schools within walking distance
• Santa Fe is the state’s capital and growing rapidly
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.
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.
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.
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.
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
Tampa-Orlando MHC Portfolio, FL - Brokers: Kevan Enger, Hunter Larocca, Ian Hilpl, Brian Hummell
6 Properties, 256 sites
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
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
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
Price: $3,000,000 | # Sites: 54
Carol Lynn Resorts Campground, Woodbine NJ
# Sites: 239
# Sites: 125