March 1, 2024 – Dennis Kelleher, John Pentore and William Peck of Horvath & Tremblay have successfully completed the sale of Longwoods Mobile Home Park in Deering, New Hampshire. The trio exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $5,000,000.
Longwoods Mobile Home Park is located at 43 Martin Road in Deering, New Hampshire. The Property includes all of the land and roads within the community, as well as ninety-eight (98) mobile home sites. Originally established in 1979, Longwoods Mobile Home Park is positioned on 192.2-acres of land and offers a park-like setting. Of the ninety-eight sites, 89 of the sites are currently occupied by homes. Additionally, fourteen (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 significant upside by bringing currently below market rents to market rates. Additionally, the Property offers the potential to bring on-line at least an additional forty-six (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 convenient access to the area’s primary roadways. The Property is 1-mile from Deering Center Road (NH Route 149), which is the primary commercial corridor in neighboring Hillsborough, and 2.7-miles from the Franklin Pierce Highway (US Highway 202 and NH Route 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. They have experience successfully structuring portfolio sales and 1031 exchanges. They have a dedicated buy side desk that provides real time inventory and market data to each individual client placing capital or fulfilling a 1031 exchange requirement. The firm is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.