Conway Mobile Home Park
Mobile Home Park | 9.03% CAP
Marketing description
Conway Mobile Home Park presents an opportunity to acquire a stabilized manufactured housing community in one of New Hampshire's most desirable and supply-constrained housing markets. The property serves as an important source of affordable workforce housing within the Mount Washington Valley, where rental inventory remains limited and housing demand continues to grow.
The community consists of 30 occupied sites featuring a combination of park-owned rental homes and resident-owned homes paying site rent. This ownership structure provides investors with the benefits of strong rental revenue while maintaining a portion of lower-maintenance site-rent income.
The property is strategically positioned along Route 16 with convenient access to North Conway, major employers, shopping, healthcare, recreation, and year-round tourism destinations. Its location supports continued occupancy and rental demand from residents seeking affordable housing alternatives within the region.
Infrastructure includes public water, paved roads, private septic systems, and ownership of internal roadways. The property has the ability to connect to public sewer in the future, which may further improve the long-term operational profile of the asset.
In addition to stable in-place income, the property offers investors future upside through market rent adjustments, infrastructure improvements, and potential expansion opportunities on the rear acreage.
Investment highlights
- Current operations generate approximately $299,000 in annual gross scheduled income and approximately $225,851 in annual net operating income, resulting in an attractive cap rate at the asking price.
- Unlike traditional mobile home parks that rely solely on site rent, Conway Mobile Home Park benefits from a substantial inventory of park-owned homes, providing enhanced revenue potential while maintaining stable lot-rent income from resident-owned homes.
- Expansion acreage located behind the existing community may provide future development opportunities, subject to municipal, state, and environmental approvals.
- The community benefits from public water service, paved roads, established utilities, and the ability to connect to public sewer in the future, creating long-term operational advantages.
- Located on Route 16 within the Mount Washington Valley, the property benefits from strong workforce housing demand driven by tourism, healthcare, hospitality, retail, and construction industries.
- The property consists of 30 occupied manufactured housing sites, including 25 park-owned rental homes and 5 resident-owned homes generating site rent income.
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