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$ 3,150,000
Est. payment | /mo
49 SqFt
$ 3,150,000
Est. payment | /mo
49 SqFt
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
Approx. Sqft 49
Square Footage 49 sqft
Price per Sqft $64,285
Subdivision 820 - Rideau Lakes (South Elmsley) Twp
MLS® Listing ID X13070042
Lot Size 49.400 Acres
Acres 49.4
Property 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:24570)
Location
State ON
Rooms
Kitchen 0.0
Exterior
Parking Features No
View Y/N No
Attached Garage No
Garage No
Private Pool No
Building
Sewer Septic System
Others
Virtual Tour https://earth.google.com/earth/d/1myXeAZQWu3zyKqkvs9tEAgWDAUFeZ8N3?usp=drive_link
Listed by RE/MAX HALLMARK REALTY GROUP