For Sale: 8 Mobile Home Parks Minimum Bid Northern Maine … · 2020. 5. 15. · • 60 Homes • 3 Houses • 20 Unit Motel • 160 Acres. $6,800,000. Minimum Bid. $3,900,000. Spectacular

Riverside Motor Court

26 Pads, 18 Motel units, and 3BD

Aroostook CountyAroostook County

Contact:Tony Brettkelly

+1 (650) [email protected]

Loring Woods MHP

54 pads

Houlton Mobile Home Park

55 Pads

Presque Isle MHP

85 Pads

Caribou Stream Trailer Park

38 Pads

Casey’s Trailer Park

13 Pads

Salmon Brook MHP

28 Pads

West Gate MHP

72 Pads

For Sale: 8 Mobile Home Parks Northern Maine

• 371 Pads • 60 Homes• 3 Houses• 20 Unit Motel• 160 Acres

$6,800,000Minimum Bid$3,900,000

Spectacular Portfolio

FOR SALE - 8 Mobile Home Parks

• 8 Parks• 371 Pads • 60 Homes• 3 Houses• 20 Unit Motel• 160 Acres



Portfolio Overview: • Tremendous upside - value add opportunity • All infrastructure in place• 50 homes onsite ready to be renovated• Enormous supply constraint of affordable housing in

Northern Maine • Captured market with clustered properties and economies

of scale• Very low entry price per unit • Opportunity zone• Some seller financing• Wonderful part of America• Most Parks have a river or creek alongside • Out of state owner• Operations easily transferable

Table of Contents1. Portfolio Overview2. Location Map3. Portfolio Financials4. Capital Improvement5. Future Projects6. Inventory of Vacant Homes7. Northern Maine Overview8. Maine Portfolio Estimates9. Riverside Motor Court - Caribou10. Loring Woods - Limestone11. Houlton Mobile Home Park - Houlton12. Caribou Stream Mobile Home Park - Caribou13. Casey’s Mobile Home Park - Ashland14. Salmon Brook - Washburn15. Presque Isle Mobile Home Park - Presque Isle16. West Gate Mobile Home Park - Limestone17. Rent Rolls Provided Upon Request

Properties

1. Riverside Motor Court- 563 Access Hwy, Caribou, ME 04736

2. Loring Woods Mobile Home Park-

149 Loring Commerce Rd Limestone, ME 04750

3. Houlton Mobile Home Park- 89 Old Woodstock Rd. Houlton Maine 04730

4. Caribou Stream Mobile Home Park-

320 Washburn Rd. Lot 2 Caribou Maine 04736

5. Casey’s Mobile Home Park- 1 Casey’s Trailer Park Ashland Maine 04732

6. Salmon Brook Mobile Home Park-

41 Brookside Circle Washburn Maine 04786

7. Presque Isle Mobile Home Park-

38 Jordan St. Presque Isle Maine 04769

8. West Gate Mobile Home Park-

188 West Gate Rd. Caribou Maine 04736

LOCATION MAP

11 22

33

44

55

66

77

New Brunswick, Canada

Maine, United States

8 Mobile Home Parks Includes:• 371 Pads• 60 Mobile Homes• 3 Houses• 1 Motel with 20 units• 160 Acres

5

3

7

6 421

8

Capital Improvements/ Assets

Spring 2020 Projects• Presque Isle MHP/Houtlon MHP - completion of (2) steel buildings • Repair and replacement of potable water lines and septic infrastructure upgrade at

Loring Woods MHP, Westgate MHP and Riverside MHP; $25,000 • Completion and lease up of over 30 homes at an average lease of $595 - $725 per

month revenue • Kick off purchase of additional 30-50 additional homes for inventory

• Expecting to reach $750,000 in Revenues by 2021/2022• Expecting to reach NOI of $400k by 2021/2022• Continue with the full turn around of the properties

/2020 /2021 /2022

Current Inventory of Vacant Homes• Houlton MHP- (12) mobile homes• Caribou Stream MHP - (1) 2br House , (2) mobile homes• Loring Woods MHP - (5) Mobile Homes • Riverside Inn and Park - (8) vacant motel rooms and (16) mobile homes; (3) to move

to PI Park; (3) in queue for purchase• Casey’s - (2) mobile homes; (2) in queue for purchase• Presque Isle MHP - (1) mobile home

Northern Maine Overview

Demographics/ County Overview:• 6th Largest County by Population(67,653) in Maine out of 16 counties

• Median houshold income: $39,021 as of 2013-2017, (in 2017 dollars)

• Median age is 46.9 years young

• Median Value of owner-occupied housing units, 2013-2017: $97,000

County Facts:• Incorporated March 16, 1839.• Population is 5.4% of the State’s total population.• Aroostook is named for an Indian word meaning “beautiful river”• Contains 2 cities, 55 towns, 11 plantations, and 110 unorganized townships.• Aroostook County is larger than Connecticut and Rhode Island combined.

Overview:

• 26 pads, 18 Motel units and 3br unit conveniently located on the 89 in Caribou and close proximity to Limestone

• Pads available from $200 per month• Newly renovated Homes from $650 per month and units

from $550 per month• Parks Including Playground and Clubhouse coming soon• Very friendly community and supportive staff• Handy to 89, town of Caribou and Limestone• Come Live with Us!

563 Access Highway Caribou, ME, 04736, United States

Riverside Motor CourtRiverside Motor Court

Riverside Motor Court

Caribou

Caribou Skyway Plaza Shopping Center

Caribou Municipal Airport

Caribou High School

1

1

Aroostook River

Hannaford Supermarket and Pharmacy

5 Minute Drive to

Caribou

Riverside Motor CourtRiverside Motor Court563 Access Highway Caribou, ME, 04736, United States

Acreage of the Park: 10 Acres

Age of the Park 18 Years

PADS: How many pads? 26

How many homes on concrete pads? 1 Located at Lot 26

How many homes on gravel pads? 0How many pads currently vacant? 20What kinds of pads are available? Hard Pack Dirt

Water Type (Private or Public) PrivateType and size of supply lines? 1” up to code when installed

Sewer type: (Public or Private) Private/Septic

What kind of well is it? Drilled

Is the main water line cast iron or others? Others

Roads: (Private, town approved, paved, gravel) Private, Gravel Hardpack

Are the roads in the park maintained by the park? YesAre individual driveways maintained by the park? Yes as neededIs snow plowing and sanding of driveways the responsibility of the park own-ers?

Yes

Electricity: Who pays for the street lights in the park? Owner

What type of electrical meters servicing each pad? 100 Amps

How many are fuses? 0

How many are circuit breakers? 100

Is there a long term utility company? No


Miscellaneous:

Has the Maine Manufacturing Housing Board cited the MHP for any vio-lations as a result of their annual inspection and/or complaints from park tenants?

Yes and were corrected.

Are there any buried oil tanks in the park? None to Seller’s Knowledge

How many sites have oil tanks? Only the occupied sitesDoes the current owner provide trash removal for each site? Yes - DumpsterHow many vehicles are allowed to park on each site? 2Are dogs allowed in this park? YesAre there rules and refulations for this park? Yes

Can you provide rent roll inclusive to the name of the tenants and length of occupancy?

Yes

Are there litigations currently pending? NoTo your knowledge, are there environmental issues factored inot the relative value of the park?

No

Are copies of the sumbitted IRS schedule E statements available for the last three years?

Yes

Is there an age limit to the admission to the park? No

Are older mobile homes allowed to enter this park? The old units are in the process of being removed

How many of the mobile homes are owned by the Park owner? 2 Are not being removed

What has been the occupancy rate of this park?

Looking at trends, do you anticipate further increases in this rate?


Overview:

• 54 pads located in a beautiful woodsy community 5 minutes from the town of Limestone

• Pads available from $200 per month• Newly renovated Homes from $650 per month• FREE MOVE AND FREE RENT SPECIALS NOW AVAILABLE• Very friendly community and supportive staff• Handy to 89, schools, downtown, hospital and restaurants• Parks Including Playground and Clubhouse coming soon

Loring Woods Mobile Home ParkLoring Woods Mobile Home Park149 Loring Commmerce Limestone, ME 04750

Loring Woods

Limestone

Loring Woods Country Club

Aroostook National Wildlife Refugee

Chuch Of Advent

Aroostook Band ofMimac Trust Land

Maine School of Science and Math-

ematics

1

1

89 8915 Min to Caribou


Acreage of the Park: 37

Age of the Park 1960+/-

Is there additional land abutting this property that could supply potential park growth/expansion in the future?

Yes, the Sellers own a separate 60 acres parcel and a separate single family home that will be included with

the park at the price listed.

PADS: How many pads?

How many pads? 52How many homes on concrete pads? 0How many homes on gravel pads? 0How many pads currently vacant? 44

Water Type (Private or Public) Private

Type and size of supply lines? 1’’

Sewer type:

Is the Sewer Public or Private Private

Roads: (Private, town approved, paved, gravel) Private, Gravel Hardpack

Are the roads in the park maintained by the park? YesAre individual driveways maintained by the park? YesIs snow plowing and sanding of driveways the responsibility of the park own-ers?

Yes

Electricity:

What type of electrical meters servicing each pad? 100 amps

How many are fuses? 0

How many are circuit breakers? All

Who pays for the street lights in the park? Owner


Miscellaneous:


Yes and were corrected

Are there any buried oil tanks in the park? None to Seller’s knowledge

How many sites have oil tanks? Only the occupied sitesDoes the current owner provide trash removal for each site? Yes - DumpsterHow many vehicles are allowed to park on each site? 2Are dogs allowed in this park? YesAre there rules and refulations for this park? Yes


Yes

Are there litigations currently pending? YesTo your knowledge, are there environmental issues factored inot the relative value of the park?

No

Are copies of teh sumbitted IRS schedule E statements available for the last three years?

Yes


Are older mobile homes allowed to enter this park? The old units are in the process of being removed

How many of the mobile homes are owned by the Park owner? 3 Not being removed

Can you provide a copy of the bylaws of the park? Yes

Looking at trends, do you anticipate further increases in this rate?


Overview:

• 55 pads located in a beautiful woodsy community 5 minutes from Downtown Houlton

• Pads available from $260 per month• Newly renovated Homes from $650 per month• FREE MOVE AND FREE RENT SPECIALS NOW AVAILABLE• Very friendly community and supportive staff• Handy to I 95, schools, downtown, hospital and restaurants• Parks Including Playground and Clubhouse coming soon

89 Old Woodstock Road Houlton, ME, 04730, United States

Houlton Mobile Home ParkHoulton Mobile Home Park

Houlton MHP

Houlton


Houlton Plaza Shopping Center

1

2

2

22

Community Park

Houlton High School

Med

uxne

keag

Rive

r

United States Postal Service

Houlton Regional Hospital



Acreage of the Park:

Age of the Park


Yes

PADS: How many pads? 56How many homes on concrete pads? 0How many homes on gravel pads? 26How many pads currently vacant? 30How many houses? 0


Type and size of supply lines?

Sewer type: (Public or Private) Public

Can you provide mapping locations of pumping stations and leaching fields?

Roads: (Private, town approved, paved, gravel)

Are the roads in the park maintained by the park? YesAre individual driveways maintained by the park? NoIs snow plowing and sanding of driveways the responsibility of the park own-ers?

No

Electricity: Is electricity provided by the owner? No

What type of electrical meters servicing each pad?

How many are fuses?

How many are circuit breakers?




Miscellaneous:


NO

Are there any buried oil tanks in the park? NO

How many sites have oil tanks? 0Does the current owner provide trash removal for each site? YesHow many vehicles are allowed to park on each site?

OneAre dogs allowed in this park? NoAre there rules and refulations for this park? Yes


Yes


Yes PFAS Contaminant

Are copies of teh sumbitted IRS schedule E statements available for the last three years?Is there an age limit to the admission to the park? No

Are older mobile homes allowed to enter this park? Yes

How many of the mobile homes are owned by the Park owner? 20

What has been the occupancy rate of this park? %

Looking at trends, do you anticipate further increases in this rate? Yes

89 Old Woodstock Road Houlton, ME, 04730, United StatesHoulton Mobile Home ParkHoulton Mobile Home Park

Overview:

• 38 pads located on Washburn Road in a beautiful open area alongside a brook and nature. Just 5 minutes from Downtown Caribou

• Pads available from $200 per month• Newly renovated Homes from $650 per month• FREE MOVE AND FREE RENT SPECIALS NOW AVAILABLE• Very friendly community and supportive staff• Easy access on Washburn Rd just minutes from Presque Isle• Handy to I 95, schools, downtown, hospital and restaurants• Parks Including Playground and Clubhouse coming soon

Caribou Stream Mobile Home ParkCaribou Stream Mobile Home Park563 Access Highway, Caribou, Maine 04736

Caribou Stream

Caribou

Skyway Plaza Shopping Center

Downtown Mall Shopping Center

Cairbou High School


Aroo

stoo

k Rive

r

1

1

1

Hannaford Super Market

Tim HortonsSweden Street Plaza

Shopping Center

Caribou Stream Mobile Home ParkCaribou Stream Mobile Home Park563 Access Highway, Caribou, Maine 04736


Age of the Park


No

PADS: How many pads?

How many homes on concrete pads? 0How many homes on gravel pads?How many pads currently vacant?How many houses? One

Water Type (Private or Public)

Type and size of supply lines? Private

Sewer type: (Public or Private)

Can you provide mapping locations of pumping stations and leaching fields? Yes



Yes



How many are fuses?



563 Access Highway, Caribou, Maine 04736

Caribou Stream Mobile Home ParkCaribou Stream Mobile Home Park

Miscellaneous:


No

Are there any buried oil tanks in the park? No

How many sites have oil tanks? Just the houseDoes the current owner provide trash removal for each site? NoHow many vehicles are allowed to park on each site? OneAre dogs allowed in this park? NoAre there rules and refulations for this park? Yes


Yes


No



How many of the mobile homes are owned by the Park owner? Two

What has been the occupancy rate of this park? %

Looking at trends, do you anticipate further increases in this rate? Yes definitely

563 Access Highway, Caribou, Maine 04736Caribou Stream Mobile Home ParkCaribou Stream Mobile Home Park

Overview:

• 13 pads - stunning location across the river from the beautiful village of Ashland surrounded by woods

• Pads available from $150 per month• Newly renovated Homes from $495 per month• FREE MOVE AND FREE RENT SPECIALS NOW AVAILABLE• Very friendly community and supportive staff• Just 20 minutes from Presque Isle• Handy to Ashland, schools• Parks Including Playground and Clubhouse coming soon

1 Caseys Trailer Park Lot 18, Ashland, ME 04732

Casey’s Mobile Home ParkCasey’s Mobile Home Park

Ashland

Presque Isle

Northern Maine Woods

North Plaza Shopping Center

Casey’s Mobile Home Park

Ashland District School

1

1

1

Chapman

Mapleton

Castle Hill

Wade Washburn

Easton

Scopan Lake

Northern Maine Museum of Science




Age of the Park


Yes


How many homes on concrete pads? 0How many homes on gravel pads?How many pads currently vacant? 1How many houses? 2

Water Type (Private or Public) Public



Can you provide mapping locations of pumping stations and leaching fields? Yes



No



How many are fuses?





Miscellaneous:


No


How many sites have oil tanks? 0Does the current owner provide trash removal for each site? NoHow many vehicles are allowed to park on each site? OneAre dogs allowed in this park? NoAre there rules and refulations for this park? Yes


Yes


No



How many of the mobile homes are owned by the Park owner? Two

What has been the occupancy rate of this park?

Looking at trends, do you anticipate further increases in this rate? Yes definitely

1 Caseys Trailer Park Lot 18, Ashland, ME 04732Casey’s Mobile Home ParkCasey’s Mobile Home Park

Overview:

• 28 pads located in a beautiful open community 5 minutes from the town of Washburn

• Pads available from $200 per month• Newly renovated Homes from $650 per month• FREE MOVE AND FREE RENT SPECIALS NOW AVAILABLE• Very friendly community and supportive staff• Handy to Washburn Road, schools and Town• Parks Including Playground and Clubhouse coming soon

Lot 11, Brookside Cir Washburn, ME, United States

Salmon Brook Mobile Home ParkSalmon Brook Mobile Home Park

Community Pond

Washburn

Northern Maine Woods

Washburn Coffee Shop

Salmon Brook

County Farms Market

Washburn District High School

Washburn District Elementry School

Salmon Brook

Mill Pond




Age of the Park: Unknown


Yes

PADS:

How many pads 21How many homes on concrete pads? NoneHow many homes on gravel pads? AllHow many pads currently vacant? 10

Water Type:

Is the water type Private or Public Public

Sewer type:

Is the Sewer Public or Private? Public

Roads: (Private, town approved, paved, gravel) Private/Gravel


Tenants are responsible for driveways

Electricity:

What type of electrical meters servicing each pad? 100 Amps cartridge fuses

How many are fuses? All

How many are circuit breakers? None




Miscellaneous:


Yes (Been Corrected)


How many sites have oil tanks? All that are rentedDoes the current owner provide trash removal for each site? YesHow many vehicles are allowed to park on each site? 2Are dogs allowed in this park? 1 DogAre there rules and refulations for this park? Yes


Rent Roll with names only


No


Yes



How many of the mobile homes are owned by the Park owner? None

What has been the occupancy rate of this park? 50%

Looking at trends, do you anticipate further increases in this rate? No



Overview:

• 85 pads – Prime in town location near Walmart, Town Hall, Route 1, University

• Pads available from $200 per month• Newly renovated Homes from $650 per month• FREE MOVE AND FREE RENT SPECIALS NOW AVAILABLE• Very friendly community and supportive staff• Conveniently located in largest City in Northern Maine• Handy to Route 1, public transport, schools, downtown,

hospital and restaurants• Parks Including Playground and Clubhouse coming soon

50 Davis Street Presque Isle, ME 04769, United States

Presque Isle Mobile Home ParkPresque Isle Mobile Home Park

Walmart Center

LowesNorthern Maine

Community College

Presque Isle Mobile Home Park

Presque Isle

McDonalds

Northern Maine Fair Association

Peace Park

Hamptons Inn Presque Isle

Tim Hortons

Governer’s Restaurant and Bakery The Aroostook

Medical Center

Save-A-Lot



Acreage of the Park: 9.58

Age of the Park Unknown


Yes

PADS: How many pads? 74 Pads (Licensed for 85)

How many homes on concrete pads? 1How many homes on gravel pads? 73How many pads currently vacant? 28How many houses? 1

Water Type (Private or Public) Public

Type and size of supply lines? 30-1 1/4 Plastic/and Misc.


Can you provide mapping locations of pumping stations and leaching fields? 1 Pump for 30 sites for Sewer

Roads: (Private, town approved, paved, gravel) Private/Paved


Tenants are responsible for driveways. Out-side on Davis St.

Electricity:

What type of electrical meters servicing each pad? 100 Amps

How many are fuses? All

How many are circuit breakers? None




Miscellaneous:


Yes (Been Corrected)


How many sites have oil tanks? All that are rentedDoes the current owner provide trash removal for each site? City providesHow many vehicles are allowed to park on each site? 2Are dogs allowed in this park? 1 DogAre there rules and refulations for this park? Yes


Rent Roll with names only


No


Yes



How many of the mobile homes are owned by the Park owner? None

What has been the occupancy rate of this park? 70%

Looking at trends, do you anticipate further increases in this rate? No



Overview:

• 72 pads – Prime location near Caribou, Limestone, Route 1, Canadian Border

• Pads available from $200 per month• Newly renovated Homes from $650 per month• FREE MOVE AND FREE RENT SPECIALS NOW AVAILABLE• Very friendly community and supportive staff• 60 Acre Parcel alongside with Metal Pit• Excellent water treatment plant on site• Conveniently located near largest City in Northern Maine• Handy to Route 1, public transport, schools, large towns,

hospital and restaurants• Parks Including Playground and Clubhouse coming soon


West Gate Mobile Home ParkWest Gate Mobile Home Park

Limestone


Aroostook National Wildlife Refugee

Chuch Of Advent

Maine School of Science and Math-

ematics

1

1

8989

15 M

in to Cari

bou

Cairbou High School Caribou


Aroostook River

Little Madawska River

West Gate MHP




Age of the Park


Yes


How many homes on concrete pads? 0How many homes on gravel pads? 4How many pads currently vacant? 72How many houses? 0



Sewer type: (Public or Private) Private

Can you provide mapping locations of pumping stations and leaching fields?



Yes



How many are fuses?





Miscellaneous:


No

Are there any buried oil tanks in the park?

How many sites have oil tanks?Does the current owner provide trash removal for each site? NoHow many vehicles are allowed to park on each site? OneAre dogs allowed in this park? NoAre there rules and refulations for this park? Yes


Yes, Park is Empty

Are there litigations currently pending? NoTo your knowledge, are there environmental issues factored inot the relative value of the park?Are copies of teh sumbitted IRS schedule E statements available for the last three years?Is there an age limit to the admission to the park? No


How many of the mobile homes are owned by the Park owner? Four

What has been the occupancy rate of this park? 0

Looking at trends, do you anticipate further increases in this rate? Yes, definitely



FOR SALE - 8 Mobile Home Parks

• 8 Parks• 371 Pads• 60 Homes• 3 Houses• 20 Unit Motel• 160 Acres



Portfolio Overview: • Tremendous upside - value add opportunity • All infrastructure in place• 50 homes onsite ready to be renovated• Enormous supply constraint of affordable housing in

Northern Maine • Captured market with clustered properties and economies

of scale• Very low entry price per unit • Opportunity zone• Some seller financing• Wonderful part of America• Most Parks have a river or creek alongside • Out of state owner• Operations easily transferable

Documents

For Sale: 8 Mobile Home Parks Minimum Bid Northern Maine … · 2020. 5. 15. · • 60 Homes • 3 Houses • 20 Unit Motel • 160 Acres. $6,800,000. Minimum Bid. $3,900,000. Spectacular