MHC Listing's Rundown 11/13/2024
Listings Rundown - Summary Updates
Marcus & Millichap - Added 5 | Removed 4 listings
MHP Brokerage - Added 1 listing.
Sunstone - Removed 4 listings.
Other Street - Removed 1 listing.
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
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
Rush County Storage & Shady Maple MHC, Rushville IN - Broker: Adam McNeil
Price: $3,500,000 | Cap Rate: 6.86% | # Sites: 312
Located only 45 minutes East of Indianapolis
All Four locations located within 1 ½ miles of each other
Stabile occupancy with the opportunity to increase rents
City Water & Sewer at all locations
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
MARCUS & MILLICHAP
Palomino Plains Manufactured Housing Community, Hobbs NM - Broker: Skyler Henderson, Brad Dorsey
# of Sites: 88 | 10.91 Acres
99% Occupied Asset with Opportunity to Further Stabilize with Mobile Homes
Asset Operates on City Water and Sewer with Electricity Billed Back to Tenants
Located 7 miles from Hobbs Regional Airport and less than 100 miles from Midland International Airport
North Shore Mobile Home Park, Houghton Lake MI - Broker: Jordan, Chris Futo, Gordon A. Navarre
Price: $465,000 | Price per Site: $15,500 | # of Sites: 30 | Cap Rate: 6.66% | 6.68 Acres
Located Across the Street from Houghton Lake with Lake Access
Plenty of Land for Expansion or Redevelopment on 6.88 Acres
Current Rents are Below Market
2 Park Portfolio - Azalea Grove & Bellingrath Oaks, Theodore AL - Broker of Record: Eddie Greenhalgh
Price: $3,250,000 | #of Sites: 78 | Cap Rate: 8.20% | 13.96 Acres
77% Occupancy
City Water
Mobile, AL MSA
Domenics MH Estates, Palmdale CA - Broker: Douglas Danny, Dustin B. Wilmer
Price: $1,800,000 | Price per Site: $52,941 | # of Sites: 34 | Cap Rate: 3.66% | 4.02 Acres
Amenities include: On-Site Laundry, Pool & Clubhouse
Direct-Metered Electric & Gas, Sub-Metered Water
Seller finance for qualifying buyer at 4% for the first year.
Green Mountain MHC, Lenoir NC - Broker: Jeff Shugarts, Nick R. Lore, Nate McDaniel
Price: $700,000 | Price per Site: $26,923 | # of Sites: 26 | Cap Rate: 7.54% | 8.00 Acres
Consistent cashflow from Lot Rent homes with minimal maintenance and management
Opportunity for development of up to 65 lots just outside of the desirable Appalachian Mountains
Close proximity to Blowing Rock, Hickory, and Lenoir Downtowns
Asset elevation contours allow for large, desirable lots
Pageland MHP Portfolio, Jefferson, SC - Broker: Ryan Lipomi, Nick R. Lore and Nate McDaniel
Price: $1,350,000 | Price per Site: $48,214 | # of Sites: 28 | Cap Rate: 10.97% | 2.80 Acres
10-acre portfolio across four towns with potential for future growth or development
Proximity to larger cities like Charlotte, NC, and Columbia, SC, providing access to growing job markets
Mixed utilities & direct pay electricity providing flexibility and manageable operational costs
Myers MHP, Eden NC - Broker: Dylan Hellberg, Glenn D. Esterson
Price: $695,000 | Price per Site: $28,958 | Cap Rate: 5.70% | # Sites: 24 | 9.70 Acres
Public Water
Significantly Below Market Rents
Opportunity to infill 6 vacant POH, 2 vacant SFH, and 2 vacant MH lots
Buena Vista Mobile Home Park, Lamont CA - Broker: Dustin B. Wilmer, Douglas A. Danny
Price: $3,700,000 | Price per Site: $61,667 | 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
The Parks of Flower Mound Mobile Home Community, Flower Mound TX - Broker: Brad Dorsey, Skyler Henderson
# Sites: 36 | 6.02 Acres
Located in City of Flower Mound – Extreme Barriers to Entry
Average Home Value in Flower Mound is North of $600,000
All Resident Owned Homes – 100% Occupancy
Below Market Lot Rents
Concrete Roads Throughout
Operates on City Water and Sewer
Pine Rock Park, Nevada City CA - Broker: Andrew Whinery
Price: $2,500,000 | Price per Site: $125,000 | Cap Rate: 6.03% | # Sites: 20 | 3.31 Acres
Unique Gold Country opportunity, located 7/10 of a mile from downtown Nevada City
Impeccably maintained and landscaped senior community
Majority of the homes in the community are desirable modular homes
Below market rents, there is no Mobile Home Rent Control Stabilization Ordinance
Numerous recent capital improvements
Serviced by city water and sewer services
Direct billing for gas and electric
The property is 60 miles to Sacramento, 84 miles to Reno, and 70 miles to Lake Tahoe
Meadowbrook Estates, Sonoma CA - Broker: Frank Rogers, Peter Alimam
Price: $2,650,000 | Price per Site: $71,622 | Cap Rate: 6.67% | # Sites: 37 | 4.21 Acres
City Utilities
100% Occupied
100% Resident Owned Homes
Direct Billed Gas & Electric
Hidden Lakes MHC, King NC - Broker: Glenn D. Esterson
Price: $2,650,000 | Price per Site: $31,176 | Cap Rate: 4.70% | # Sites: 85 | 56 Acres
Hugh Upside Through Infill
Large MSA Population with Demand for Affordable Housing
Upside In Rent Growth
River Village Mobile Home Park, Buena Vista, CO - Broker of Record: Adam Lewis
Price: $3,525,000 | Price per Site: $57,787 | Cap Rate: 8.26% | # Sites: 61 | 8.18 Acres
33 Park-Owned Homes, 28 Mobile Home Lot Rents, and City Approval to Develop 12 Additional Sites
Operates on City Sewer and Well Water
Less Than Half a Mile from U.S. Highway 24 and 285
Located in an Opportunity Zone
Median Housing Value of $616,300 with a Remarkable 20.5% Appreciation in the Last 12 Months
Country Village MHP, Cheraw SC - Broker: Nick Lore, Ryan Lipomi, Nate McDaniel
Price: $1,400,000 | Price per Site: $36,842 | Cap Rate: 9.00% | # Sites: 38 | 2.38 Acres
Value-add opportunity: Pushing rents by 30% will significantly increase year one returns.
Well positioned behind the Walmart, Highland Corporate headquarters, and near Chesterfield General Hospital.
Low operational costs due to well water, septic systems, and tenant-paid electricity.
Strategic location with access to major cities like Charlotte and Columbia.
Stable tenant base supported by Cheraw's strong local economy and nearby employment opportunities
16-acre property provides potential for future expansion or development.
7 Park Portfolio - Pittsburgh, Grove City PA - Broker of Record: Timothy B. Stephenson Jr.
# Sites: 526 | 2.63 Acres
Value-Add Cash Floowing Portfolio
MSA With Strong Demand For Affordable Housing
POH To TOH Conversion Opportunity
Centralia 15 Pad MHP, Centralia WA - Broker: Rich Day, Timothy Ufkes
Price: $795,000 | Price per Site: $53,000 | Cap Rate: 7.35% | # Sites: 15 | 1.43 Acres
Scenic Setting: Located in Centralia's peaceful countryside, this park offers serene views and a nature-filled environment, perfect for those seeking tranquility.
Prime Location: Conveniently close to Centralia's downtown, shops, and I-5, blending rural charm with easy access to amenities and services.
Accessible Transportation: Easy access to public transit, nearby bus stops, and Centralia's Amtrak station ensures smooth commutes to Olympia, Seattle, and Portland.
Valley View Park Home Community, Westcliffe CO - Broker of Record: Adam Lewis
# Sites: 28 | 11.91 Acres
20 Park Home Lots, 7 Mobile Home Lots, 1 Bungalow, and 6 Storage Units
Infrastructure Completely Replaced and Modernized in 2012
Operates on City Water and Sewer
Below Market Average Rents
Pueblo Memorial Airport – 61.5 Miles from Asset
Sundance Mobile Home Park, Escondido, CA - Broker: Dustin B. Wilmer and Douglas A. Danny
# of Sites: 88 | 6.41 Acres
7 Palms Mobile Home Park, Cloverdale, CA - Broker: Frank Rogers and Peter Alimam
Price: $5,225,000 | Price per Site: $118,750 | # of Sites: 44 | Cap Rate: 6.04% | 13.88 Acres
City Utilities
100% Occupied
Sonoma County Location
Merrill Mobile Manor & RV Park, Merrill, OR - Broker: Douglas A. Danny and Dustin B. Wilmer
Price: $1,500,000 | Price per Site: $45,455 | # of Sites: 33 | Cap Rate: 6.50% | 20.25 Acres
The Village of Stonewood, Dr, Lufkin, TX - Broker: David Tietz, Matt Wagner, Hudson Silverman
Price: $1,820,000 | Price per Site: $46,667 | Cap Rate: 8.48% | # Sites: 39 | 4.97 Acres
Seller Financing Available
55+ Community
Tenants Directly Billed Utilities
Detached Condominium Portfolio
Sportsman Mobile Home Park, Lake Charles, LA - Broker: David Tietz, Hudson Silverman, Matt Wagner
# Sites: 52 | 9.00 Acres
Majority Tenant Owned Homes
Concrete Roads and Driveways
Value-Add Opportunity With Infill
Below Market Rents
El Rancho Estates & Valley Palms, Blythe CA - Broker: Douglas A. Danny, Dustin B. Wilmer
Price: $4,550,000 | Price per Site: $31,164 | Cap Rate: 3.15% | # Sites: 146 | 6.61 Acres
Seller-Financed for Qualified Buyers
Real Property Cost Per Site of $18,835 (146 Total Sites)
Twenty-Seven (27) Mostly Newer Model Manufactured Homes Offered at $33,703 Per Home
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
Prairie Estates Mobile Home Park, Calhan CO - Broker: Maxwell M. Rist, Brandon Kramer, Barry Higgins
Price: $7,700,000 | Price per Site: $77,778 | Cap Rate: 8.00% | # Sites: 99 | 172.94 Acres
Abundant On-Site Water Supports up to 260 Pads
Within a 13-Minute Drive of Schriever Air Force Base
Location Serves as Affordable Housing Option within the Colorado Springs Area
Southeast MHP Portfolio - AL, GA, WV, NC, SC, Dr, Roanoke, AL - Broker of Record: Eddie Greenhalgh
# Sites: 638 | 638.00 Acres
Significant Value-Add Potential: Significant opportunities for enhancement and increased value through strategic improvements, management optimization, and other value-creating initiatives.
Diverse Portfolio: Includes 21 mobile home parks spread across five states, offering a total of 638 sites.
Flexible Investment Options: Available for purchase as a comprehensive portfolio or as individual assets, providing tailored investment opportunities.
Strategic Loan Structure: Eleven MHPs come with a CMBS loan that must be assumed, enabling a structured financial arrangement.
Operational Efficiency: Average of 31 sites per park, strategically located for optimal operational and management efficiencies.
All 21 parks feature on-site management, enhancing the passive nature of these investments.
Oakwoods Manufactured Housing Community, Tallahassee, FL - Broker: Glenn D. Esterson, Dylan Hellberg
# Sites: 75 | 3.30 Acres
75 lot manufactured housing community in the capital city of America's fastest growing state
Upside Through Infill and Raising Rents To Market
Recent Capital Improvements
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.
Lynchburg Estates, Lynchburg, VA - Broker: Glenn D. Esterson
Price: $5,400,000 | Price per Site: $59,341 | # of Sites: 91 | Cap Rate: 5.40% | 1.92 Acres
Cash Flowing Upon Entry
25%+ Local Population Growth
76% Occupancy
YALE
MHC Portfolio, Maryland & Delaware, New Hampshire NJ - Broker: Harrison Bell
Price: $65,000,000 | Price per Site: $78,000 - $83,050 | Cap Rate: 5.8% | # Sites: 800 | 350 Acres
90% Occupancy Rate and 98% Tenant Owned Homes
Institutional Scale in Strong Housing Markets
Additional Upside from Remaining Infill
Minimal Deferred Maintenance Portfolio-Wide
Non-Recourse Financing Options Available
5 - MHC Portfolio, Rawlins & Saratoga WY - Broker: Brian McDonald
Price: $16,500,000 | Price per Site: $45,380 - $56,725 | Cap Rate: 7.7% | # 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
TN & VA 9-Park Portfolio, Eastern TN to Southwest VA - Broker: Charles Castellano
Price: $45,250,000 | Price per Site: $75,400 - $82,250 | Cap Rate: 8.12% | # Sites: 550 - 600 | 125 +/- Acres
Recently Developed and Stabilized Communities
High Occupancy and Low Turnover
Direct Billed Water at All Communities
Municipal Sewer at Majority of Communities
Includes ~400 Park Owned Homes
All Park Owned Homes 2018 – 2024 Vintage
MHC, Crawford County, Iowa - Broker: Ken Schefler
Price: $3,500,000 | Price per Site: $38,100 - $49,000 | Cap Rate: 7.83% | # Sites: 125 - 150 | 10-15 Acres
Attractive Pricing – 7.8% cap rate with 16% cash on cash in year one.
Fully Stabilized – Only 1 vacant lot and 4 vacant homes. Otherwise, fully occupied with tenant owned homes and RTO contracts
Attractive Financing – Assumable agency debt with 4.5% interest with 2.5 years of I/O and 8 years left on the full term.
Strong Infrastructure – Municipal water and sewer already submetered and billed back along with trash billbacks
MHC, Fort Wayne - Indiana MHC - Broker: James McCaughan
Price: $2,850,000 | Price per Site: $34,800 - $52,200 | Cap Rate: 7.37% | # Sites: 50-75 | 2.5 Acres
Near-stabilized MHC in high-growth market
Sub-metered city water and sewer
Low park-owned home count consists entirely of recent vintage models, all set in 2023
Room to increase rents significantly
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
MHP, Daytona Beach, FL MSA - Broker: James Cook
Price: $3,750,000 | Price per Site: $53,550 - $75,000 | Cap Rate: 5.23% | # Sites: 50 - 70 | 2.50 Acres
All municipal utilities
20% below market rents and 20% vacant
One block off the intercoastal
Urban infill location, surrounded by retail and jobs
4-MHC Portfolio, Roanoke, VA MSA - Broker: Harrison Bell
Price: $7,000,000 | Price per Site: $46,200 - $55,450 | Cap Rate: 6.50% | # Sites: 125 - 150 | 60 +/- Acres
90% Occupied, 95% Tenant Owned Homes
Located Within One Hour Radius
Below Market Rents
Secondary Market With Diverse Economy
Non-Recourse Acquisition Debt Option
MH/RV Resort, Ludington - Traverse City MI - Broker: James McCaughan
Price: $6,250,000 | Price per Site: $43,200 - $52,800 | Cap Rate: 6.24% | # Sites: 100 | 75 Acres
New-build, high-quality MH/RV resort in top vacation region in the Midwest
Located in high-growth and high-demand western Michigan
Room to raise rents substantially (subject to cap on existing lifetime leases)
Includes engineered 150 +/- site expansion (needs simple update and re-certification)
Chicagoland MHC, Chicagoland Area, Illinois - Broker: James Mccaughan, James Cook
Price: $9,000,000 | Price per Site: $127,800 - $178,900 | Cap Rate: 5.25% | # Sites: 50 - 70 | 3 - 5 Acres
Fully occupied community with 90% tenant-owned homes
Room to raise rents 20%
3% non-recourse debt, 3+ years I/O remaining, and 11 year balloon
Located in high-demand northern suburb of Chicago within top school district
MHC, St. Louis MO MSA - Broker: Ken Schefler
Price: $7,325,000 | Price per Site: $91,150 - $121,500 | Cap Rate: 5.24% | # Sites: 60-80 | 10 Acres
17% Expense Ratio – This is a genuine coupon clipper. 99% occupied with 94% TOH, direct utility billing in place, no deferred maintenance, no onsite management needed, off site management expense included.
Strong Infrastructure - Roads in excellent shape. Municipal water, sewer, trash, and electric with direct billing already in place.
Strong Day 1 Cashflow – Over 99% occupied with lot rents at $555/mo.
Financing Secured and Assumable – 6% I/O for a 5 year term with CMBS. $21,250 assumption fee. The owner has spent over $320k in closing costs and rate buydowns for the benefit of the next owner.
Centrally Located - Community is in the St Louis MO MSA (pop 2.8m).
Lakefront MHP, Southeast Tennessee - Broker: Charles Castellano
Price: $2,200,000 | Price per Site: $35,750 - $53,650 | Cap Rate: 7.94% | # Sites: 50 | 10 - 15 Acres
Lakefront MH Community
92% TOH and 98% Occupied
$350,000+ Single Family Home Market
By-Right Expansion Opportunity
Below Market Rents
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
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 Portfolio, Columbia & St. Louis MO - Broker: Ken Schefler
# Sites: 1000
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.
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
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+
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, Pierre & Sioux Fall, SD - Broker: Ken Schefler
Price: $30,000,000 | # Sites: 500
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, 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: $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
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
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!
West Texas Portfolio, Plainview TX - Broker: Joel Sachs
Price: $1,650,000 | # Sites: 71
Strong In-Place Income
Rental and Infill Upside
Revamped infrastructure with full hookups on all vacant pads
Rio Grande Valley Portfolio, Mission TX - Broker: Wyatt Minor
Price: $47,600,000 | # Sites: 526
Institutional quality parks
The new owner has the opportunity to convert Dealer Owned Home inventory to Tenant Owned Home inventory
South Dakota Portfolio, Mitchell SD - Broker: Sammy Deeb
# Sites: 230
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
West Monroe Portfolio, West Monroe, LA - Broker: Kevin Murton
Price: $1,000,000 | # Sites: 35 | Cap Rate: 11%
11% Cap rate
Directly billed utilities
Owner financing available
Oak Valley MHP, West Monroe LA - Broker: Kevin Murton
Price: $1,360,000 | # of Sites: 44 | Cap Rate: 11%
5-acre adjacent lot included
Directly billed utilities
Manager on site
11% Cap rate
91% occupancy
NOI north of $140k yearly
Tall Pines Trailer Park, Blakely GA - Broker: Omar Elassadi
Price: $1,700,000 | # 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
Winfield Mobile Home Park, Winfield TN - Broker: Omar Elassadi
Price: $1,250,000 | Cap Rate: 10.44%
City Utilities
On-site office
Ability to bill back utilities
Long-term High-quality tenants
Pebble Beach Mobile Home Park, Dunlap TN - Broker: Hudson Bird
Price: $515,000 | # Sites: 23
City Utilities
Utility Bill Back Potential
Infill Potential
Unoccupied Renovation Potential
sun Under Market Rents
Dickinson Mobile Home Park, Dickinson TX - Broker: Omar Elassadi, Elias Conrad
# Sites: 45
City Utilities
City maintained streets
100% TOH
100% Occupancy
Utilities direct billed
Rent increase potential
Price: $1,500,000 | # Sites: 30
Dixieland MHP, West Monroe, LA - Broker: Kevin Murton
Price: $410,000 | # Sites: 16 | Cap Rate: 7%
Owner financing available
7% Cap rate
Value add opportunity
Directly billed city utilities
Pet and smoking free
Little to no expenses
Yearly NOI north of $25k
Yorkshire Villas, Utah USA - Broker: Elias Conrad
Price: $1,200,000
NM / West TX Portfolio, New Mexico - Broker: Joel Sachs
Price: $5,925,000 | # Sites: 288 | Cap Rate: 7.7%
Strong going in incomsune
Upside on rents and infill
Strong local economy
Confidential MHP, TX, Texas, USA - Broker: Wyatt Minor, Gina May Nestande
Price: $13,500,000
Elm Ridge MHP, Englewood CO - Broker: Sammy Deeb
# Sites: 288
Mountain West Community, California - Broker: Sammy Deeb, Elias Condrad
SUNSTONE
Cedar Cove, Burfordville, MO - Broker: Zach Sheck, Jeff Kozel
Price: $1,100,000 | # Sites: 21
9.0% asking CAP rate - 2 hours south of downtown St. Louis
All 15 sites are occupied park-owned home rentals averaging $760 per month
Includes one apartment building with 6 units – 5 at $800 and 1 at $850 per month
Property was built in 2010
Water is public and sewer is private lagoon
Water and electric are direct billed to residents
Walnut Grove, Farmington, MO - Broker: Zach Sheck, Jeff Kozel
Price: $4,470,000 | # Sites: 91
8.8% asking CAP rate
Approximately 75 miles south of downtown St. Louis and built in 2001
Potential for 23 to 25 expansion sites
Majority of roads are paved with off street parking – new section currently has gravel roads
Water and sewer lines are in-place to accommodate expansion sites
South Houston Portfolio - Broker: Hudson Bird, Waylon Grubbs
# Sites: 156
Motivated Seller
City Utilities
Non-recourse financing options available
96% occupied
Muldraugh MHC, Muldraugh KY - Brokers: Hudson Bird, Tony Houchin
Price: $750,000 | # Sites: 34
City Utilities
Redevelopment Plat is City approved
Opportunity for utility bill back
Seller financing available
Creekside at Manitou Springs, Manitou Springs CO - Broker: Hudson Bird, Waylon Grubbs
Prime location
$500K in improvements (past 12 months)
Strong occupancy
Potential for utility recapture and vacancy growth
The Village at Lake Conroe, Montgomery TX - Broker: Casey Thom, Robert McBroom
# Sites: 239
New Construction. Phase 1 started in September of 2021
Water and Sewer handled by PUD
Close proximity to Lake Conroe
Median home price of $429,000 within the zip code
Median 3-bedroom apartment rent $1,882 within the zip code
Cedar Pointe, Mt Vernon IL - Broker: Alyssa DeBono, Murphy Holloway, Doug Banerjee, Henry Mathies, Kolman Bubis
# Sites: 42
Cedar Pointe offers investors the opportunity to purchase a 42-unit Low Income Housing Tax Credit (LIHTC), detached single-family home style development located in Mt. Vernon, IL. Cedar Point is offered fee simple and free and clear of existing debt from the original developer. The scattered-site property was developed in 2005, through the 9% LIHTC program. 100% of units operate under a LURA, with nine-units restricted to 50% AMI and the remaining 33-units restricted to 60% AMI. All units are family designated and 21-units offer 3 bedrooms and 21-units offer four bedrooms. In addition to the rental units, the property offers a central leasing office.
Cedar Pointe has averaged less than 2% vacancy over the last two years. Investors are presented with an opportunity to acquire a well maintained and extremely consistent property. In addition to strong historical occupancy, the property has achieved near net max rents over time.
Cedar Pointe is the only privately owned detached single-family style LIHTC development in Mount Vernon. It is also the only privately owned LIHTC development that offers 4 bedroom units. Mount Vernon has a limited supply of LIHTC properties in general and virtually none that offer unit mixes and square footages than Cedar Pointe
Virginia 4-Property Portfolio - Broker: Waylon Grubbs, Robert McBroom
# Sites: 395
Strong occupancy rates
On-site staff management
Potential for expansion by utilizing undeveloped sites within the community
Convenient access to educational and business centers
Laurel & The Oaks MHC, La Marque - Broker: Bradley Gordon, Hudson Bird
Price: $4,115,000 | # Sites: 61
Houston MSA
City utilities
Stabilized occupancy with rent growth upside
Hazel Crest MHP, Hazel Crest IL - Broker: Robert McBroom, Kolman Bubis, Zach Scheck
Price: $450,000 | # Sites: 25
Value creation by filling vacant inventory and sites
5-minute drive from Amazon fulfillment center
Situated 25 miles south of Chicago
Easy access to the Tri-State Tollway
Water, sewer, and trash are billed back to residents
Paxton MHP, Paxton IL - Broker: Robert McBroom, Kolman Bubis, Zach Scheck
Price: $310,000 | # Sites: 21
Value creation by filling vacant inventory and sites
Opportunity to bring rents to market over time
Located off Highway 45
Water, sewer, and trash are billed back to residents
Prairie Estates Mobile Home Park, Calhan CO - Broker: Maxwell M. Rist, Brandon Kramer, Barry Higgins
Price: $7,700,000 | Price per Site: $77,778 | Cap Rate: 8.00% | # Sites: 99 | 172.94 Acres
Abundant On-Site Water Supports up to 260 Pads
Within a 13-Minute Drive of Schriever Air Force Base
Location Serves as Affordable Housing Option within the Colorado Springs Area
Leaning Oaks & Maple Leaf, Houston MSA - Broker: Casey Thom and Hudson Bird
Price: $5,025,000 | # 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
Maple Leaf, Houston TX - Broker: Casey Thom, Tony Houchin
Price: $2,810,000 | # Sites: 33
City water and sewer
Recent expansion
Conveniently located near I-69, Beltway 8, and IAH
San Antonio 2 Park Portfolio, San Antonio TX - Broker: Casey Thorn, Tony Houchin
Price: $1,550,000 | # Sites: 32
95% occupancy rate
All public utilities
Quick access to downtown San Antonio
Ada MHP, Ada MN - Broker: Tony Houchin
Price: $365,000 | # Sites: 37 | Cap Rate: 7.95%
Fill vacant sitessan
No vacant inventory
Below-market rents
Water, sewer, and trash direct billed to tenants
Northridge MHP, Minto ND - Broker: Tony Houchin
Price: $460,000 | # Sites: 41
Value creation by infilling vacant sites
Below market rents
96% tenant-owned homes (only 1 POH)
Central/Eastern MI 4-Property Portfolio - Broker: Kolman Bubis, Zach Scheck
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 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.
South Concho, San Angelo TX - Broker: Robert McBroom, Casey Thorn
# Sites: 258
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
Ft. Worth/Dallas Portfolio - Broker: Robert McBroom, Casey Thom
# Sites: 381
Vibrant all-age communities with 381 MH sites
Impressive 93% occupancy rate (across 6 of the assets)
Well below average lot rent of $707
Prime opportunity for strong scale ownership in the DFW Metroplex
Significant growth potential through vacancy infill, including vacant land and redevelopment opportunities
Includes 94 owner-financed homes, note balance of $4,074,208 (average balance less than $50,000 per new home)
Six of the eight assets have city utilities: two use private well water and sewer systems, with possible city water access
Wheel Estates, Slinger WI - Broker: Kolman Bubis, Zach Scheck
# Sites: 100
100 Lots - Slinger, Washington County, Wisconsin Location - City Water & Sewer Service
67% Occupancy - Tremendous Opportunity to Infill New Homes to Drive Occupancy and Improve the Community
$372 per month Average Site Rents - Greater Submarket average exceeds $500/month - Opportunity to Improve W/S Collections
Excellent Greater Milwaukee location close to Highway 41, Waukesha, Germantown and Menomonee Falls
Elk Creek Estates, Grandview TX - Broker: Hudson Bird, Waylon Grubbs
# Sites: 33
City utilities
Expansion opportunity for qualified parties
New road improvements in 2022
Rare opportunity to acquire a DFW MHC for less than $100k/site
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.
Carolinas MHC Portfolio - Broker: Todd Fletcher, Andrew Shih, Braden Weaver, Samuel Rector
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
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.
St James MHC, Corbin KY - Broker: Andrew Shih, Todd Fletcher, Braden Weaver, Si Pitstcik, Samuel Rector
Price: $8,000,000 | # Sites: 146 | 28.37 Acres
Ownership has sold 11 homes in the past five months, selling 8 homes with an average age of 2001 between $20,000 to $34,000 and 2 new homes with average age of 2019 for $64,000 each. Remaining inventory is of high quality with an average age of 2015 to 2016 with an estimated value of $2.5M+. Ownership has proven that there is deep demand and high value for homes in this market, even at a $60,000+ price point, and additional brand new homes could be ordered to fill vacant lots.
Value-add opportunity for a new owner to continue to grow revenue by renting or selling the current inventory, as well as bringing in homes to fill the remaining lots. All of the vacant homes are mostly rent ready and ownership expects those to be filled within the coming months. Filling the remaining vacant homes and lots could add over $123,000 in annual site rental revenue for a new owner (approximately $55,000 by filling the current vacant homes and another $100,000 for the remaining lots).
Further value-add potential to increase lot rents over time to boost revenue. The current Owners raised lot rents by $35 for tenant-owned homes and 15% increase for park-owned homes around June 2024, which resulted in revenue growth with a minimum impact on occupancy.
The offering includes 50 park-owned homes, of which 35 are currently occupied as pure rentals paying an average home payment of $530 per month. Approximately 63% of the homes are 2016 or newer models manufactured by Giles and Clayton.
The community boasts a well-designed and attractive layout with off-street parking and paved roads.
Current ownership has spent around $100,000 on capital improvements, including $50,000 for skirting and another $50,000 for paving gravel roads in the back of the community.
Strong demographics in the immediate area. Within a 10-mile radius of the community, the average household income is $69,400 with average home values at $187,756.
COOPER CARDINAL
Naples MHP, Naples FL - Broker: Jack A. Cardinal
Price: $975,000 | # Sites: 15 | 2.5 Acres
Hide-Away-Harbor MH & RV Park, Astatula FL - Broker: Jack A. Cardinal
Price: $3,495,000 | # Sites: 60 | 7.3 Acres
J&S Fish Camp, Okeechobee FL - Broker: Jack A. Cardinal
Price: $3,000,000 | # Sites: 45 | 5.4 Acres
Dean's Mobile Home Park, Tucson AZ - Broker: Jack A. Cardinal
Price: $590,000
Northview MH & RV Park, Washburn ND - Broker: Jack A. Cardinal
Price: $875,000
Circle Oaks MHP, Fort Myers FL - Broker: Jack A. Cardinal
Price: $1,395,000 | # Sites: 16 | 0.96 Acres
Shangri-La MHP, Saint James City FL - Broker: Jack A. Cardinal
Price: $2,400,000 | # Sites: 31
OTHER STREET
Confidential Oklahoma Mobile Home Community, Outside of Oklahoma City & Dallas - Broker: Enon Wrinkler
# Sites: 300
Northeast MHC Portfolio, NY, ME, RI, & MA - Broker: Enon Wrinkler
# Sites: 1,233
Airway Estates, Defiance OH - Broker: Enon Wrinkler
Price: $1,200,000 | # Sites: 42
Majority tenant-owned home community that will be at 100% occupancy by closing
Potential to generate a total operating income of $281,208 by year five
Opportunity to achieve a cash-on-cash return of 22.25% over a five year holding period
Community serviced by city water billed-back to tenants
Opportunity to acquire a bolt-on community outside of both Toledo and Fort Wayne, Indiana
Belfast, ME Portfolio, Belfast ME - Broker: Enon Wrinkler
# Sites: 90
Turnkey portfolio at 99% occupancy with the communities located approximately three miles from each other
Portfolio consisting of all tenant-owned homes with an additional 31 sites that are entitled and shovel ready
The expansion of Seacoast Village, given the affordable housing shortage in Maine and the high occupancy of the portfolio, is a meaningful opportunity to increase the portfolio to 121 sites between both communities
Communities serviced by city water and a mix of city sewer and septic, which is direct-billed at one of the communities, with opportunity to bill-back with Metron at the other
Opportunity to achieve a total operating income of $693,139 by year three
Potential to acquire communities in Belfast, Maine, along the Penobscot Bay and close to other inland towns such as Augusta and Bangor
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
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
Bluebird Acres, Chicopee, MA - Broker: Enon Winkler
Price: $4,250,000 | # 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
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
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
Somerset Estates, Somerset Center MI - Broker: Enon Wrinkler
Price: $5,400,000 | # Sites: 300
Immediate infill upside of the 203 vacant sites
Immediate rental upside, site rent is currently ~$60/m belowmarket and home rent is currently ~$150/m below-market
Opportunity to acquire a community of scale at a price below replacement cost
Development of solar farms in Somerset will expand job opportunities and further the need for affordable housing and home rentals in the area
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
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%
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
Coach Post MHP, Olympia, WA - Broker: Kevin Adolfo, Jeff Benson, Sam Neumark
Price: $4,950,000 | Cap Rate: 9% | # Sites: 72 | 6.5 Acres
Repaving the roads.
Gradually replacing older single wides & RVs with new mobile homes and park models
Connecting to city services and increasing the number of legally permitted pads.
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
Town & Country Mobile Home Park, Fairbanks AK - Broker: Jeff Benson, Sam Neumark, Palmer Lloyd
Price: $1,750,000 | Price per site: $29,661 | # Sites: 59 | Cap Rate: 6.41%
59 pads – 56 tenant owned sites, 3 park owned sites
14 sites are currently vacanct
Park is serviced by well & septic
The Fairbanks North Star Borough has seen moderate population growth, with an estimated increase of 2-3% over the past five years, reflecting a stable and slowly expanding economy (Per Redfin)
Day-1 Cash Flow + Value-Add Opportunity
Current Cap Rate of 6.41%
Year 1 Projected Cap Rate of 8.80%
Upside opportunities include paving roads, raising rents, adding amenities and infilling current vacancies
Market Growth
With a $1.3B annual contribution, the military, driven by Fort Wainwright and Eilson Air Force Base, plays a crucial role in the Fairbank's economy.
The University of Alaska Fairbanks is a key economic driver, generating over $1 billion each year through research and federal funding.
Fairbanks benefits from a growing tourism industry contributing $100 million annually, alongside significant economic activity from the oil and gas sector through the Trans-Alaska Pipeline System.
Suncrest Country Club, Palm Desert CA - Broker: Jeff Benson, Sam Neumark
# Sites: 359 | 106.79 Acres
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.
NAIOHB
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
Eugene Oregon MHC Portfolio - Broker: Ian Hilpl, Hunter Larocca, Kevan Enger, Brian Hummell
# Sites: 69
ENTRY INTO EUGENE METRO
STABILIZED TURN-KEY ASSET WITH 100% OCCUPANCY
ALL RESIDENT OWNED HOMES
PUBLIC UTILITIES
CLOSE PROXIMITY ALLOWS FOR SHARED STAFFING
FRONTAGE ALONG I-5
BELOW MARKET RENTS
Wisconsin 5-Park MHC Portfolio - Broker: Ian Hilpl, Hunter Larocca, Kevan Enger, Brian Hummell
# Sites: 235
235-site portfolio encompasses 5 parks
PROXIMITY TO GREEN BAY & MADISON
UPSIDE IN FILLING VACANCY
OPPORTUNITY TO SHARE STAFFING
BELOW MARKET RENTS
CURB APPEAL
Minneapolis MHC Portfolio - Broker: Ian Hilpl, Hunter Larocca, Kevan Enger, Brian Hummell
# Sites: 107
ENTRY INTO MINNEAPOLIS MS
BELOW MARKET RENTS
DEMAND FOR AFFORDABLE HOUSING
98% OCCUPIED
STABILIZED TURNKEY ASSET
Pittsburgh MHC Portfolio, PA - Broker: Ian Hilpl, Hunter Larocca, Kevan Enger, Brian Hummell
# Sites: 1215
SCALED ENTRY INTO PENNSYLVANIA
GREAT PROXIMITY TO PITTSBURGH
GREAT CURB APPEAL
BELOW MARKET RENTS
MAJORITY PUBLIC UTILITIES
OPPORTUNITY TO SHARE STAFFING
MINIMAL PARK OWNED HOMES
88% OCCUPANCY
Dayton-Canton MHC Portfolio, Ohio - Broker: Ian Hilpl, Hunter Larocca, Kevan Enger, Brian Hummell
# Sites: 660
STABILIZED 96% OCCUPANCY
LOW PERCENTAGE OF PARK OWNED HOMES
BELOW MARKET RENTS
ATTRACTIVE CURB APPEAL
EXPANSION OPPORTUNITY
PUBLIC UTILITIES BILLED BACK TO RESIDENTS
Michigan 5 - Park Portfolio, Michigan - Broker: Ian Hilpl, Hunter Larocca, Kevan Enger, Brian Hummell
# Sites: 624
SCALED ENTRY INTO MICHIGAN
MICHIGAN MHC PORTFOLIO TURN-KEY ASSETS WITH OPERATIONAL EFFICIENCIES
INCREASE RENTS
ATTRACTIVE CURB APPEAL
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
Iowa 11 - Park MHC Portfolio, IL - IA - Broker: Ian Hilpl, Hunter Larocca, Kevan Enger, Brian Hummell
# Sites: 1215
SCALED ENTRY INTO IOWA
STABILIZED TURNKEY ASSET WITH OPERATIONAL EFFICIENCIES
BELOW MARKET RENTS
Tampa-Orlando MHC Portfolio, FL - Brokers: Kevan Enger, Hunter Larocca, Ian Hilpl, Brian Hummell
6 Properties, 256 sites
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
# 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
NMHC GROUP
Mingo River Mobile Home Park, Andrews SC
Price: $1,500,000 | # Sites: 30
Boxwood Tiny Home Community, Kingsland TX
Price: $745,000 | # Sites: 14
Deer Run Estates & Red’s MHP, Baraboo & Wisconsin Dells WI
# Sites: 322
Price: $6,000,000 | # Sites: 82
Eastern Iowa Portfolio, Maquoketa IA
Price: $2,500,000 | # Sites: 139
Carol Lynn Resorts Campground, Woodbine NJ
# Sites: 239
SKYVIEW ADVISORS
Rancho Rantoul Estates, Rantoul IL
Price: $2,050,000 | # of Sites: 52 | 4.28 acres
4.12% Fixed Rate Assumable Agency Loan, Interest Only Through June 2026
$1,600,000 Loan Balance
City Water/Sewer – Billed Back to Tenants
Low Overhead and Maintenance
# of Sites: 67 | 15 acres
Inheriting a Stable Tenant Base
City Utilities
High Cash Flow in Place
Whispering Pines MHC, Pittsburg KS
Price: $2,060,000 | # of Sites: 110 | 12.60 acres
110 Sites with 50 Currently Occupied - Ready For Occupancy Growth
Includes 46 Park-Owned Homes, with 20 Vacant and Available for Quick Lease-Up
Located in Pittsburg, Kansas, Offering a Strategic Investment in a Stable Community