LKC Mobile Home Park - for Sale in Elmira, New York
1170 Sherman Avenue
Elmira, NY 14904
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Seller Information
Kevin RoshakLKC Management LLC
Mobile Home Park for Sale |
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| Number of MH Lots: | 30 |
| Purchase Method: | Cash, New Loan |
| Status: | Active |
| Property ID: | 115235 |
| Posted on: | Feb 15, 2012 |
| Updated on: | Apr 23, 2012 |
| Price: | $489,000 |
Property Description
LKC Mobile Home Park consists of 30 Lots with 21 park owned homes, 5 tenant owned homes and 4 vacant lots. Also on site is a 26'x40' heated cinder block storage building with coin operated laundry in rear (3 washers and 2 dryers) income from laundry is not included in Gross Income. Public water and sewer service entire park. New water lines from street to homes in 2008 and new sewer lines approximatly 10-15 years ago. Two adjoining additional seperate deeded lots (75'x140' each) are included with the park sale. Lots are zoned for a 2 unit appartment building on each or can be used to expand park. The location of the park is in a residential area 2-3 blocks from shopping center which is a great location for tanants without vehicles and very easy to rent. Lot rents average $265 and owner owned home rents range from $375-$475. Location is less than 30 minutes from PA and the booming Marcellus Shale industry resulting in lack of housing and the potential for higher rents.
Please call for additional information.
570-430-1035 or 570-947-3733
Location Description
From SR 17 take exit 59 to SR 427 follow approx. 10 miles through Wellsburg to stop light, make left onto Cedar Street follow approx. 3/4 mile to right on Sherman Avenue to LKC Mobile Home Park on left.
Park Information
| Number of MH Lots: | 30 |
| Total Occupancy: | 98.0% |
| Year Built: | 1970 |
| Average MH Lot Rent: | $265 |
Financial Information (Pro Forma)
| Gross Income | $120,000 |
| Operating Expense | $29,000 |
| Net Operating Income | $91,000 |
| Expense Ratio | 24.2% |
| Debt Info |
Lot Information
| Singlewide Lots: | 30 |
| Doublewide Lots: | 0 |
| Triplewide Lots: | 0 |
| Park Model Lots: | 0 |
RV Information
| Number of RV Lots: | 0 |
| Average RV Lot Rent: | $0 |
Utility Information
| Water: | City |
| Water Paid By: | Park |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 21 |
| Average Rent for Park-owned Homes: | $425 |
Amenities and Other
| Laundromat: | Yes |
| Storage: | Yes |