We are selling our Vermont parks off market for $5.8M and will also sell them individually. This gives buyers more flexibility and no broker fee.
Stabilized portfolio with upside. Total NOI across all 6 parks is $440K.
Mt. View also has significant extra land with the potential to add 25 homes over time, creating additional cash flow upside.
Utilities:
Mt. View and Washington Parks are on well and septic.
The other 4 parks are on city water and sewer.
Portfolio details:
6 parks total
116 spaces
112 TOHs
4 POHs (1 vacant)
Good to great locations
There are 2 parks in Barre and 1 in Washington, VT, totaling 49 spaces across those 3 properties. These parks are all within about 20 minutes of each other.
The 2 Barre parks may have a seller financing option. The original note holder may work with a new buyer on those 2 parks, potentially creating a new note in the $700K to $1M range.
Individual pricing, total spaces, and current lot rents:
21 spaces in Washington – $1.1M
Lot Rent: $510
Pleasant View in Barre – 21 spaces plus a 3-unit apartment building – $1.6M
Lot Rent: $589
Includes sewer line work and rehab of 2 POHs at a cost of $150K
East Barre MHP – 7 spaces – $375K
Lot Rent: $554
Mt. View, Johnson, VT – 31 spaces – $1,250,000
Lot Rent: $399
River Hill MHP, Essex, VT – 15 spaces – $750K
Lot Rent: $560
Dorr MHP, Rutland – 17 spaces – $650K
Lot Rent: $392
The last 3 parks can be bought together or separately.
Strong cap rate, solid cash flow, and good locations.
One advantage of Vermont being a small state is that these parks are all within about an hour of one another.
Vermont is generally a friendly New England state for park owners because it has a strong manufactured housing and repair program. The state understands the importance of affordable housing and does not work to deter it.
Let me know which park or parks you are interested in, or if you would like information on the full portfolio. We are happy to answer any questions.
Thanks for your interest,
Dan G.
DLG Properties
401-712-8148