NORTHEAST MHC PORTFOLIO

MASSACHUSETTS & MAINE

Property Highlights

SITES

OCCUPANCY

AVERAGE SITE RENT

2019 NOI

PRO FORMA NOI

PRICE PER SITE

CAP RATE

TOTAL PRICE

132

98%

$317

$182,439

$271,463

$29,697

6.93%

$3,920,000

Investment Highlights

  • Three Communities Containing 132 Total Sites Located in Massachusetts and Maine
     

  • 98 Percent Global Occupancy
     

  • Two of the Communities are Serviced by Public Water and Sewer

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Property Overview

Marcus & Millichap is pleased to present the opportunity to acquire three manufactured housing communities located in Massachusetts and Maine. All three communities are all-age, and contain a total of 132 sites. Allendale Pines and Acorn Acres are located in Massachusetts and are serviced by public water and sewer, while Indian Run Estates is located in Maine
and serviced by private water and sewer (well/septic). Allendale Pines, Acorn Acres and Indian Run Estates have a 98 percent global occupancy allowing a new buyer to benefit from strong occupancy and low number of park owned homes.


Allendale Pines is located in Pittsfield, MA and contains 55 sites which are 98 percent occupied. Allendale is the only community in this portfolio that is subject to rent control. The community provides its tenants with an ideal location just minutes from Allendale Shopping Center and Berkshire Crossing, two large shopping areas which include a Walmart
Supercenter, Home Depot, Dick’s Sporting Goods, T.J. Maxx, HomeGoods, Harbor Freight Tools, Big Lots, etc.


Acorn Acres consists of 37 sites which are 97 percent occupied located in Auburn, MA. The community has a population greater than 545,000, median housing value of $295,746 and average household income of $100,229 within a 15 mile radius.


Lastly, Indian Run Estates is located in Dresden, ME near the Kennebec River and 50 minutes north of Portland (45 Miles). The community contains 40 sites that are 98 percent occupied, situated on 5 acres and allows room for 22 expansion sites.


The communities are being offered for sale individually or as a portfolio.

Listed By:

Jonathon McClellan

(216) 264-2023

Jonathon.McClellan@marcusmillichap.com

Kyle Baskin

(216) 264-2059

Kyle.Baskin@marcusmillichap.com

Connor Outcalt

(216) 264-2029

Connor.Outcalt@marcusmillichap.com

John Horowitz

Broker of Record - Massachusetts

License 1000303

Jennifer Athas

Broker of Record - Maine

License DB919281

GET IN TOUCH:

SOCIAL LINKS:

Jonathon McClellan
Senior Managing Director Investments

Jonathon.McClellan@marcusmillichap.com

(216) 264-2023

Kyle Baskin

Senior Managing Director Investments

Kyle.Baskin@marcusmillichap.com

(216) 264-2059

Jacqueline Sawchik

Executive Assistant | Marketing Coordinator

Jacqueline.Sawchik@marcusmillichap.com

(216) 264-2062

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© 2017 by McClellan & Baskin MHC Group