Northeast Maine MHC Portfolio
3 MHC's with In-Place Cash Flow & Significant Upsides | Opportunity Zone
Marketing description
Colliers Manufactured Housing & RV Group, serving as the exclusive agent for the Owner, is pleased to offer the opportunity to acquire the 117-unit, 3-park Northeast Maine MHC Portfolio, a well-located affordable housing opportunity situated in Aroostook County, along the Maine & New Brunswick, Canada border. See below for NEW detailed investment highlights.
Northeast Maine MHC portfolio offers a rare combination of close-proximity communities with in-place cash flow, significant infill potential, and POH tax advantages positioning it for long-term value creation.
The portfolio consists of three well-maintained, all-age communities, Houlton, Caribou Stream and Salmon Brook MHC each offering a compelling investment opportunity with spacious lots, newly rehabbed homes and strong on-site management team providing immediate upside through infilling homes, leasing and raising rates. Salmon Brook MHC is located in an opportunity zone which adds upside in the supply constrained market of Northern Maine. Updated financials are now available.
The UPDATED Asking Price for the portfolio is $2,900,000 ($24,800/lot). This represents a 10.8% Cap Rate on Year 1.
Investment highlights
INVESTMENT HIGHLIGHTS (NEW)
Strong Cash Flow with Upside Potential:
The portfolio provides in-place cash flow with significant opportunity for growth through occupancy increases, infilling vacant lots, and scheduled rent adjustments to align with market rates (currently occupied sites are on average 13%+ below market rents).
Experienced Operational Team:
The well-established management team is willing to remain with new ownership, ensuring continuity and operational efficiency.
Recent Infrastructure Investments:
Over $2.7 million in improvements have been completed in the past two years, primarily focused on water and sewer systems, reducing future capital expenditure needs.
Attractive Market and Strategic Location:
Caribou & Salmon MHC are located within 15 minutes of each other and Houlton is just 60 miles south providing an efficient management opportunity. All parks are situated in scenic settings appealing to higher-end “Vacationland” demand, while benefiting proximity to economically strong Canadian border towns. Salmon Brook MHC is located in an opportunity zone which adds upside in the supply constrained market of Northern Maine.
Portfolio Expansion Opportunity:
In addition to these assets, there is potential to acquire two nearby parks, increasing the portfolio to 192 units and creating a highly efficient management cluster.
Additional Revenue and POH Advantages:
The 44 park-owned homes offers potential tax benefits, including depreciation, while the region’s housing shortage supports strong demand for infill and occupancy growth.
If this one doesn't match your investment criteria, you can visit this link to update your criteria: https://visitor.r20.constantcontact.com/manage/optin?v=001G32ScgsZ-HBaN-LLw8ymaONrfaIP08gsvDJTr6rIEhJKAZWFDhdVbKp_vVZVTJ_yH9rY23ISFnLm_FTWgYaFrXLY1Q4uQUoukF574_gTkY4%3D
You can view our other opportunities here: https://www.crexi.com/profile/mike-nissley-mikeni
If you have a property you would like to sell or receive a valuation on, visit this link:
https://lp.constantcontactpages.com/su/buJbxgS/1031seller
Colliers Manufactured Housing & RV Group Linkedin Page:
https://www.linkedin.com/company/35565066
MH Park Groups:
https://www.facebook.com/groups/1971542136217030
https://www.linkedin.com/groups/12180353
RV Park Groups:
Listing Contacts
Valuation Calculator
Valuation Metrics
Map
Broker Selected Comps View More Comps
Property History
Similar Properties
Is there information that looks off?
