Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Listing ID: 423849
- Posted On: Feb 5, 2014
- Updated On: Apr 14, 2015
Description
Rare opportunity to acquire a well-maintained, sizable, all age community in a high cost of housing market positioned to continue achieving annual rent increases.
The community features an attractive, low density layout with recently improved asphalt roads.
Offering includes 9 recently renovated apartment units (~$300,000 in renovation work) that are now fully rented.
Adjacent single family home on 5.2 acres included in sale.
Local lenders still finance homes for residents. Park only holds to home notes. Vacancy upside potential for new owner.
Soils are ideal for efficient leaching out of the private septic systems.
Attractive, non-recourse first mortgage at historically low interest rate should be available to a qualified Buyer.
Location
Paradise Park is conveniently located in Rochester, NH, the 4th largest community in New Hampshire with 30,000 people.
Rochester is an extremely desirable location due to the high cost of housing in the area (median owner occupied housing value of ~$197,000 within a 5 mile radius).
Park Information
Community Type: | All Age |
Number of MH Lots: | 146 |
Total Occupancy: | 89.0 % |
Average MH Lot Rent: | $408 |
Size: | 71 acre(s) |
Utility Information
Water: | Well |
Sewer: | Septic |