Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 12.4%
- Listing ID: 105830
- Posted On: Sep 21, 2011
- Updated On: Jul 31, 2012
Description
20 lot manufactured housing community, 100% occupied, Great Country Setting, Strong Rental History, On Site manager, Excellent septic and well water systems. Large lots, Well maintained and well constructed park. Paved roads, plow truck included. Perfect for remote investor or Owner Occupant. No park owned homes. Room for lot rent increase, Additional neighboring Lot with 1.6 acres, single family home and 3 car garage available for additional 50k
Location
10 minutes from Ithaca, NY and 15 minutes from Cortland, NY. Nice setting in Finger lakes region of New York State.
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Park Information
| Community Type: | All Age |
| Number of MH Lots: | 20 |
| Total Occupancy: | 100.0 % |
| Year Built: | 1970 |
| Average MH Lot Rent: | $230 |
| Size: | 5 acre(s) |
Financial Information (Actual)
| Gross Income: | $55,200 |
| Operating Expense: | $18,120 |
| Net Operating Income: | $37,098 |
| Expense Ratio: | 32.8 % |
Lot Information
| Singlewide Lots: | 20 |
| Doublewide Lots: | 0 |
| Triplewide Lots: | 0 |
| Park Model Lots: | 0 |
RV Information
| Number of RV Lots: | 0 |
Utility Information
| Water: | Well |
| Water Paid By: | Park |
| Sewer: | Septic |
