Colonial Mobile Park Home at 1st Street, 2nd Street and Commonwealth Boulevard in Manchester — Courtesy: The Kislak Co. Inc.
By Joshua Burd
An investor has acquired a mobile home community in the Ocean County township of Manchester for $2.3 million, in a newly announced deal by The Kislak Co. Inc.
The brokerage team said the property, Colonial Mobile Park Home, spans parts of 1st and 2nd streets and Commonwealth Boulevard and consists of 25 manufactured homes and two vacant lots. Most dwellings within the community are resident-owned, which Kislak said helps to minimize maintenance responsibilities and enhances long-term stability, while citing the potential to increase revenue through the infill of the two vacant lots.
Kislak Senior Vice President Daniel Lanni represented the seller, Colonial Mobile Home Court Inc., and procured the buyer, Casa Nova Today LLC.
“Mobile home parks have become very desirable for investors given their high cash flow and low maintenance costs, and residents who own their homes,” Lanni said. “This park was owned by the original owner and same family for more than 50 years and the transaction closed smoothly with a 1031 exchange buyer.”
In a news release, Kislak noted that the Colonial Mobile Park Home is served by public water with individual meters, allowing for efficient utility management. The firm added that the township maintains the local roads around the property.
