Presque Isle Trailer Park
Presque Isle Trailer Park
Presque Isle Trailer Park

Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 8.1%
  • Listing ID: 1717009
  • Posted On: Jul 19, 2022
  • Updated On: Jan 15, 2024

Description

Presque Isle Mobile Home Park is an excellent turnkey investment property located in the middle of the beautiful town of Presque Isle, Maine - the largest town in Northern Maine above Bangor. This Mobile Home Park is the largest park in Northern Maine with 85 Licensed Pads, a single-family home, and situated on 9.58 acres. Public water & sewer and private paved roads. Seller is also offering a credit of $50,000. This will help cover the cost of a new sewer line (estimated replacement is $20,000) and help fill vacant lots with new homes. Great opportunity for profit growth! Consistent occupancy and a waiting list for prospective tenants. Presque Isle is located on the border of USA and Canada. Economically, it has gone through the strongest upswing in decades. The subject property presents a prime investment with an actual in going Cap rate of 8% with an enormous opportunity to create upside by bringing in more homes to rent. Northern Maine, particularly Presque Isle, has a classic New England feel of going back in time. Walking distance to the mall, Walmart and Downtown. It is 1 to 2 blocks off the Main Street, which is walking distance to the Banks, Fast Food, & other Main Street Businesses. Come check it out and make it your very own today!

Location

Prime, in-town location & largest mobile home park in Aroostook County. Private, paved roads.

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Park Information

Community Type: All Age
Number of MH Lots: 85
Total Occupancy: 52.0 %
Average MH Lot Rent: $250
Size: 10 acre(s)

Financial Information (Actual)

Gross Income: $210,600
Operating Expense: $77,486
Net Operating Income: $133,114
Expense Ratio: 36.8 %

Lot Information

Singlewide Lots: 85

Utility Information

Water: City
Water Paid By: Park
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 19
Average Rent for Park-owned Homes: $710

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