18
$3,150,000 Sale
Listed 164 days ago
26 SALMON SIDE ROAD
· 0
· 0.0
· 0
· 49 ac
Key Facts
Key facts for 26 SALMON SIDE ROAD
Property Type
Lots/Land
Parking
Garage: No, 0 parking
MLS #
X13070042
Size
49 ac sqft
Basement
-
Listed on
-
Lot size
-
Tax
-
Days on Market
-
Year Built
-
Maintenance Fee
-
Description
Acquire a fully occupied 47-pad freehold land-lease mobile home community generating stable in-place income at a 4.5% cap rate, with approximately 49.46 acres of land and identified expansion potential for an estimated 70-130 additional sites, subject to approvals and servicing. 26 Salmon Side Road ...presents a rare opportunity to acquire an established community combining immediate cash flow with substantial long-term growth potential. The property consists of 47 occupied land-lease sites, a manager's residence, and approximately 35 acres of excess land beyond the existing developed portion of the community. Preliminary review has identified approximately 21 acres of practical expansion area capable of supporting an estimated 70-130 additional sites, with approximately 70 sites representing the low-end practical scenario. Based on current operating performance and estimated expansion costs, investors may have a pathway toward a stabilized yield on cost in the range of approximately 7.5%-8.5%+ following future expansion. Opportunities to acquire stabilized mobile home communities with meaningful excess land are increasingly scarce throughout Ontario, making this a compelling opportunity for operators, investors, and affordable housing groups seeking both current income and future value creation. ADDITIONAL DETAILS FOUND IN "MORE INFORMATION" LINK BELOW. (id:10452)
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Listing courtesy of: RE/MAX HALLMARK REALTY GROUP
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