55 Unit Mobile Home Park | Seller Financing

Multi-Family for Sale
Catylist Listing ID: 30111962
Property Subtypes: Mobile Home Park
Number of Units: 55 Units
Building Size (RSF): 13,200 SF
Gross Building Area: See Agent
Sale Price: $1,250,000
Unit Price: $22,727.27 Per Unit
Property Use Type: Investment
Building Name: Houlton Mobile Home Park
Sale Terms: Owner Financing
Cap Rate: Undisclosed
Last Updated: 11/21/2017

Overview / Comments

Subject property represents an opportunity for an investor to acquire a stable MH property in a desirable location with below market occupancy. Normalizing operations and filling vacant lots will allow a purchaser to recognize enormous upside. Houlton MHP is located just 2 miles from downtown Houlton at the start of I95. The park is right next to Houlton' s International Airport-Hul & Maine' s largest Canadian border crossing. The sale includes 22 park-owned homes. This opportunity offers investors upside in both rents and fill of 20 vacant lots with tenant or park-owned homes.

Additional Details

Nearest MSA: Bangor
County: Aroostook
Area Description: Nestled in the heart of Maine, this community is conveniently located near Maine's largest Canadian border crossing. Houlton Mobile Home Park is a 5-6 minute drive from the center of town, the local High School, Houlton airport, and the Houlton Regional Hospital. The town of Houlton is known for its vibrant downtown with a great shopping center and Historic Art Museum. Houlton is located at the start of I-95, Maine's primary north-south access, and receives an abundance of traffic from Canadian tourists visiting Maine & vice versa.
Property Condition: Good
Construction/Siding: Vinyl Siding

Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 4,456 6,123
Median Age: 41.94 42.88
Households: 1,840 2,556
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