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Mobile Home Park

Rolling Acres MHP

36 Third St, Mont Vernon, NH 03057

Listing Price: Request For Offer

Number of Spaces
40
Lot Size
20.00 acres
Occupancy
100.0%
Spaces/Acre
2.00
Year Built
1990

Investment Overview

We are pleased to present this 2 Park Portfolio near the Manchester NH MSA. The portfolio consists of 62 lots and 62 tenant owned homes. The communities are centered around stable and consistently growing markets with very limited affordable housing available, providing an investor a significant amount of achievable upside within this stabilized opportunity to raise rents to market. The Manchester NH metro is home to over six colleges/universities and contains the Manchester Boston Regional Airport, a major New England travel hub with over 1.2M annual passengers. Manchester is the most populous city in New Hampshire and is about 18 miles south of the state capital of Concord and only 51 miles northwest of Boston, Massachusetts. The average medium home price in Alton is $535,000 and in Mont Vernon it is about $427,000. The communities have 62 total mobile home lots, 62 tenants and all tenant owned homes. The lot rent only tenants currently pay a combined average lot rental rate of $460 per month, which is below current market rent estimated at $500+, based on a rent comparable survey. Current occupancy is 100%. The overall market can support substantially higher lot rents based on the limited affordable housing supply. Both parks are year-round, all-ages communities. Rolling Acres consists of 40 lots and Mountain View consists of 22 lots. Both communities operate on private septic and well systems that are owned and maintained by the park. The landlord covers the water and sewer expense at both parks. The tenants pays for electric, trash and gas/propane services at both parks. The roads are paved & unpaved and in good condition. Neither park is in a flood zone or an opportunity zone. The tenant owned homes are mostly newer models and in good condition. We are asking interested parties to submit their offers based on the park’s current financials. We will not be providing any pricing guidance. Given the location and metrics of the park, the deal should qualify for traditional recourse community bank debt.

Investment Highlights

  • Below market rents
  • Achievable upside
  • 100% occupancy

Exclusively Listed By

  • Glenn D. Esterson

    Senior Vice President Investments

    (678) 808-2723

    Email Glenn

    License(s): NC: 272218, GA: 355850

    Charlotte Uptown

Broker of Record

  • Thomas Shihadeh

    Vice President/Regional Manager

    (617) 896-7220

    License(s) NH: 077795

    New Hampshire

Mobile Home Park

Rolling Acres MHP

Listing Price: Request For Offer

Number of Spaces
40
Lot Size
20.00 acres
Occupancy
100.0%
Spaces/Acre
2.00
Year Built
1990

Investment Highlights

  • Below market rents
  • Achievable upside
  • 100% occupancy

Investment Overview

We are pleased to present this 2 Park Portfolio near the Manchester NH MSA. The portfolio consists of 62 lots and 62 tenant owned homes. The communities are centered around stable and consistently growing markets with very limited affordable housing available, providing an investor a significant amount of achievable upside within this stabilized opportunity to raise rents to market. The Manchester NH metro is home to over six colleges/universities and contains the Manchester Boston Regional Airport, a major New England travel hub with over 1.2M annual passengers. Manchester is the most populous city in New Hampshire and is about 18 miles south of the state capital of Concord and only 51 miles northwest of Boston, Massachusetts. The average medium home price in Alton is $535,000 and in Mont Vernon it is about $427,000. The communities have 62 total mobile home lots, 62 tenants and all tenant owned homes. The lot rent only tenants currently pay a combined average lot rental rate of $460 per month, which is below current market rent estimated at $500+, based on a rent comparable survey. Current occupancy is 100%. The overall market can support substantially higher lot rents based on the limited affordable housing supply. Both parks are year-round, all-ages communities. Rolling Acres consists of 40 lots and Mountain View consists of 22 lots. Both communities operate on private septic and well systems that are owned and maintained by the park. The landlord covers the water and sewer expense at both parks. The tenants pays for electric, trash and gas/propane services at both parks. The roads are paved & unpaved and in good condition. Neither park is in a flood zone or an opportunity zone. The tenant owned homes are mostly newer models and in good condition. We are asking interested parties to submit their offers based on the park’s current financials. We will not be providing any pricing guidance. Given the location and metrics of the park, the deal should qualify for traditional recourse community bank debt.

Exclusively Listed By

  • Glenn D. Esterson

    Senior Vice President Investments

    (678) 808-2723

    Email Glenn

    License(s): NC: 272218, GA: 355850

    Charlotte Uptown

Broker of Record

  • Thomas Shihadeh

    Vice President/Regional Manager

    (617) 896-7220

    License(s): NH: 077795

    New Hampshire

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