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Mobile Home Park Details

  • Price: $665,000
  • Cap Rate: 13.8%
  • Property ID: 1186122
  • Posted On: Feb 2, 2020
  • Updated On: Aug 13, 2020

Property Description

This excellent investment opportunity is being sold by a long term owner. The property is stabilized with long term residents and only has one empty site left to occupy. This stable asset will be very easy for a new buyer to come in and take over operations. The property is well landscaped and clean. A great property for an operator new to mobile home parks.

Location

As of the census of 2000, there were 13,292 people, 4,253
households, and 1,913 families residing in the city. The
population density was 3,032.6 people per square mile
(1,171.7/km²). There were 4,574 housing units at an
average density of 403.2 persons/km² (1,043.6 persons/sq
mi). The racial makeup of the city was 89.81% White, 4.87%
Black, 0.21% Native American, 1.68% Asian, 0.09% Pacific
Islander, 0.95% from other races, and 1.69% from two or
more races. 3.87% of the population were Hispanic or Latino
of any race.
There were 4,253 households out of which 22.1% had
children under the age of 18 living with them, 31.4% were
married couples living together, 10.5% have a woman
whose husband does not live with her, and 55.0% were nonfamilies. 36.4% of all households were made up of
individuals and 13.5% had someone living alone who was
65 years of age or older. The average household size was
2.20 and the average family size was 2.87.
In the city, the population was spread out with 13.6% under
the age of 18, 43.1% from 18 to 24, 17.6% from 25 to 44,
13.8% from 45 to 64, and 11.8% who were 65 years of age
or older. The median age was 23 years. For every 100
females, there were 82.8 males. For every 100 females age
18 and over, there were 80.7 males.
The median income for a household in the city was $24,671,
and the median income for a family was $40,833. Males had
a median income of $31,250 versus $25,338 for females.
The Oneonta area boasts two local colleges Hartwick
University and SUNY Oneonta, which elevates population
while school is in session.
The area is also close to Cooperstown which drives in
tourism for baseball camps and the Baseball Hall of Fame.
There is also many shopping centers located in Oneonta.

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Park Information

Community Type: All Age
Number of MH Lots: 18
Total Occupancy: 95.0 %
Year Built: 1965
Average MH Lot Rent: $335
Size: 6 acre(s)

Financial Information (Actual)

Gross Income $144,040
Operating Expense $51,991
Net Operating Income $92,049
Expense Ratio 36.1 %
Debt Info

Lot Information

Doublewide Lots: 18

Utility Information

Water: Well
Water Paid By: Park
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 18
Average Rent for Park-owned Homes: $685

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