Belmont, NH Will Peck, Dennis Kelleher and John Pentore of Horvath & Tremblay have arranged the sale of Great Brook Village, a manufactured home community. The trio exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $4.26 million, a 6.61% cap rate.
Great Brook Village is a 55+ manufactured home community located at 10 Great Brook Dr. The property includes all of the land and roads within the community, as well as 65 manufactured home lots, all of which are occupied with permanent tenant-owned homes. Great Brook Village offers 51 three-bedroom, two-bathroom home lots, and 14, two-bedroom, two-bathroom home lots with a two-story community clubhouse and management office on 19.4 acres. The property is serviced by city water and sewer, which the homeowners pay directly. The tenants are responsible for their own utilities and the homes feature individual oil-fired, hot-water baseboard heat. The lot rents were recently increased and are uniform by home type throughout the community.
Great Brook Village is located off of Depot St. (NH Rte. 140), and offers its residents tranquil living in the rural village, while also providing convenient access to area shopping amenities 4 miles away in Tilton, and numerous outdoor recreation activities with boating, fishing, and hiking in the lakes region, and winter activities at nearby ski resorts.