50 DAVIS ST Presque Isle ME 04769-2289

Colliers Manufactured Housing & RV Group, as exclusive agent for the Owner, is pleased to offer the opportunity to acquire the 85-site Presque Isle Mobile Home Community, an ideally-located affordable housing opportunity in Presque Isle, Maine, the regional hub of Northern Maine. With strong agricultural roots, a growing healthcare and education sector, and strategic access to U.S. Route 1 and I-95, Presque Isle offers a prime investment opportunity in northern Maine. The property is inclusive of 85 MH sites of which, 21 are park owned homes.

Presque Isle MHC provides investors with expertise in stabilization and operations a prime value-add opportunity.

The updated asking price for the park is $1,450,000 ($17,058/site) $̶1̶,̶6̶5̶0̶,̶0̶0̶0̶.

• There are 10 occupied and 11 vacant POH (21 total POH) which could be sold to tenants. Selling units would reduce operating expenses and capex expenditures while reducing the basis in the property.

• Immediate upside from increasing occupancy from 45% to 58% by leasing the 11 vacant POH and then infilling the 36 vacant lots to achieve 95% occupancy.

• Opportunity to increase rates beyond current rent roll average of $323/month for TOH to market.

• Expense ratios will improve as infill drives revenue. This will lead to a substantial increase in yield.

• Renting homes could improve the time to lease-up and improve returns.

• Implement utility billback to increase revenue per site and overall yield.

• Public Water & Sewer

Presque Isle Mobile Home Park is an excellent turnkey investment property located in the middle of the beautiful town of Presque Isle, Maine - the largest town in Northern Maine above Bangor. This Mobile Home Park is the largest park in Northern Maine with 85 Licensed Pads, a single-family home, and situated on 9.58 acres. Public water & sewer and private paved roads. Seller is also offering a credit of $50,000. This will help cover the cost of a new sewer line (estimated replacement is $20,000) and help fill vacant lots with new homes. Great opportunity for profit growth! Consistent occupancy and a waiting list for prospective tenants. Presque Isle is located on the border of USA and Canada. Economically, it has gone through the strongest upswing in decades. The subject property presents a prime investment with an actual in going Cap rate of 8% with an enormous opportunity to create upside by bringing in more homes to rent. Northern Maine, particularly Presque Isle, has a classic New England feel of going back in time. Walking distance to the mall, Walmart and Downtown. It is 1 to 2 blocks off the Main Street, which is walking distance to the Banks, Fast Food, & other Main Street Businesses. Come check it out and make it your very own today!

* Turnkey 85 Licensed Pad Mobile Home Park In Presque Isle, Maine

* Largest Mobile Home Park In Northern Maine / Aroostook County

* Prime In-Town location on 9.58 acres

* Actual in place return of 8%

* Huge upside in rent roll with an enormous supply constraint of housing

* Waiting list for homes

*Public water and sewer

*Private, paved roads

• Taxing Authority: Presque Isle City Assessor
• Multi-Family Type: Mobile Home Park
• Property Use Type: Investment
• Gross Building Area: 708 SF
• Building/Unit Size (RSF): 708 SF
• Land Area: 21.58 SF
• Sale Terms: Cash to Seller