Simpson Court Mobile Home Park Simpson Court, St George, New Brunswick, E5C 3N5
Property Detail
Property Description
Location & Description:
Simpson Court Mini Home Park is located in St George, New Brunswick which is a 45-minute drive west of St. John or 30-minutes east of St. Stephen. The Park has 16 pads with 1 vacancy. The owner’s plan is to build a ‘stick built’ mobile home on that pad and rent it out for $1000/mo.
The Park and Vacant land each have their own title, and both are included in this offering.
Titles:
The park and vacant land each have their own land title.
Park Owned Homes:
Three (3) park-owned mini homes included in this offering and located on pads #9, #11 and #12.
Pad #9 – market value of $120,000
Pad #11 – market value of $140,000 (newly build in 2021)
Pad #12 – market value of $ 60,000
Revenue & Rents:
Revenue is from the 13 tenant homes paying $195/month and the 3 parks owned homes are rented at $550, $800 and $800/month. Rent Increase for 2022 is likely to be increased $225/month.
Rent Collection:
Rent is collected by the owners as they live nearby.
New Brunswick does not have any rent controls, but increases are limited to one time per year. Last rent increase was January 1, 2021.
Expansion and Subdivision:
The vacant land adjoining and included in this offering is fully ready to expand. Current zone calls for single family homes however, it may be possible to build more mini homes on this site.
Management:
The owners live nearby and self-manage the park.
Services:
Simpson Court has full city water and sewer services. Also, garbage pickup. The streets are paved.
Repairs & Maintenance:
Done as needed.
Zoning:
RLL Res. Land Lease & R-2 Residential Mix. Also see Permitted Uses attached.
Town Website:
St George, NB: Town website: http://townofstgeorge.com/
