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20-Space Mobile Home Park Locke, NY 13092

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Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 12.4% (Actual)
  • 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

Park-Owned Homes

Number of Park-owned Homes: 0

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