LIANG Commercial Real Estate

Description

Fairview Estates Mobile Home Community is a tranquil and welcoming community catering to families, individuals, and seniors in the heart of Fairview, Alberta. For those seeking proximity to downtown Fairview's convenient amenities, Fairview Estates MHC is an excellent choice. Whether you're contemplating a move to Fairview or already call it home, Fairview Estates MHC offers a meticulously maintained and charming neighborhood. Here's an overview: Property Details: Nestled on a spacious 7.9-acre parcel of land, this mobile home park, established in 1973, features 50 fully serviced lots. Located approximately 550 kilometers northwest of Edmonton, it primarily accommodates tenants in the 45 to 60-year age group. Residents work in various local sectors, including businesses, long-term care facilities, welding, oil fields, and the local IGA supermarket. Currently, there are 18 vacant lots, all equipped for immediate occupancy. Electrical Infrastructure: Each mobile home site has a 100-amp electrical service connection. Equipment and Maintenance: Landscaping maintenance is outsourced to professionals without on-site equipment. Services Provided: The park offers 50 fully serviced lots with access to city sewer, water, and power. The streets within the park are well-maintained gravel. Garbage pickup is included, and water billing is now separate from the monthly pad rental fee, with individual billing for each tenant. Expansion Opportunities: While the park is fully developed, the occupancy of the 18 vacant lots presents an opportunity for a significant increase in capitalization rates. With a robust rental market, these vacant lots offer the potential to bring in new homes at wholesale prices, potentially resulting in substantial retail profit. There may also be an opportunity to obtain a mobile home dealer license from a nearby manufacturer. Management: Currently, the property is self-managed by its owners. However, an on-site tenant can handle rent deposits, and lawn care responsibilities are outsourced. The budget includes provisions for a full-time manager. Rent payments are efficiently processed through e-transfers, with one tenant utilizing post-dated checks. Zoning Information: The property's zoning designation is RMHP (Residential Mobile Home Park). Additionally, City Hall has expressed a favorable disposition towards rezoning all or part of the property for higher-density use, preferably multi-family residential. Furthermore, there's an enticing tax rebate program in place for potential developers: 100% rebate in year one 75% rebate in year two 50% rebate in year three Fairview, AB, is primed for expansion and economic development, strategically located in the Peace Country at the intersection of Highways 2 and 64A. The city boasts the necessary infrastructure to support future economic growth, whether in natural gas, oil, or forestry. For more information about Fairview, Alberta, you can visit the city's website: Fairview, AB city website.