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News: Front Section
Posted: July 12, 2024
Kelleher, Peck and Pentore of Horvath & Tremblay sell Longwoods Mobile Home Park for $5 million
Deering, NH Dennis Kelleher, William Peck, and John Pentore of Horvath & Tremblay have completed the sale of Longwoods Mobile Home Park at a sale price of $5 million.
Longwoods Mobile Home Park is located at 43 Martin Rd. The property includes all of the land and roads within the community, as well as 98 mobile home sites. Originally established in 1979, Longwoods Mobile Home Park is positioned on 192.2 acres and offers a park-like setting. Of the 98 sites, 89 of them are currently occupied by homes. Additionally, 14 of the homes are park-owned homes which ownership can rent out and will transfer with the property. The lots are stubbed for electricity and the tenants pay their electric and heating bills directly. The landlord is responsible for the well and septic maintenance and expenses.
Longwoods Mobile Home Park offers upside by bringing currently below market rents to market rates. Additionally, the property offers the potential to bring on-line at least an additional 46 sites, significantly increasing the income potential of the property. The individual home sites are well spaced and surrounded by mature trees and shrubbery with paved roads and private parking facilities for each site. The Contoocook River winds along the west and north sides of the property. The property benefits from access to the area’s primary roadways. The property is one-mile from Deering Center Rd. (NH Rte. 149), which is the primary commercial corridor in neighboring Hillsborough, and 2.7 miles from the Franklin Pierce Hwy. (US Highway 202 and NH Rte. 9). Hillsborough is home to numerous national and local retailers that serve the needs of area residents including Shaw’s (grocery store), Tractor Supply Co, NH Liquor & Wine Outlet, Aubuchon Hardware, Rite Aid, Dollar General, Family Dollar, Circle K, McDonald’s, and Dunkin’.
Horvath and Tremblay is one of the most active and successful investment real estate brokerage firms in New England. Their advisors specialize in the sale of apartment buildings, mixed-use properties, and development projects.
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