DELAWARE MHP

DELAWARE

Sussex Manor
Sussex Manor
Sussex Manor
Sussex Manor
Sussex Manor
Sussex Manor
Sussex Manor

Property Highlights

SITES

OCCUPANCY

AVERAGE SITE RENT

2018 NOI

2019 SELLER PROJECTIONS

PRO FORMA NOI

CAP RATE

TOTAL PRICE

96

59%

$375

$152,776

$234,135

$152,483

6.10%

$2,500,000

Investment Highlights

  • 96 Sites Located in Seaford, Delaware
     

  • Opportunity to Implement an Aggressive Sales Program to Increase Occupancy
     

  • Larger Lots that can Accommodate Modern Homes
     

  • 116,501 Population Within a 15 Mile Radius and a Median Housing Value of $181,781
     

  • Below Market Rents

Property Overview

Marcus & Millichap is pleased to present the opportunity to acquire a mobile home park located in Delaware. Delaware MHP is a 96 site, all-age community situated on approximately 20 acres. The community is serviced by an in house central water facility and a completely new water distribution system with touch read meters at each home and private sewer with individual septic systems throughout the community. The community has newly paved roads as of the fall of 2018 and contains larger lots that can accommodate modern homes.


Situated in an ideal location right off of Laurel Highway, the community provides its tenants with easy access to a wide variety of local retail and restaurants such as Walmart Supercenter (4.5 miles from the community), Lowe’s Home Improvement, Applebee’s Grill + Bar, Texas Roadhouse, etc. The area has a population of 116,501 and a median housing value of $181,781 within a 15 mile radius. With a current occupancy of 59 percent and below market rents, a new investor can implement an aggressive home sales program to increase occupancy.

Request Property Information

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

Donald MacLaren

Broker of Record 

(215) 531-7000

License RB-0002461

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