Mobile Home Park Details

  • Cap Rate: 6.7%
  • Listing ID: 1193026
  • Posted On: Feb 20, 2020
  • Updated On: Apr 7, 2020

Description

Great opportunity for a premier 55+ community with 39 land leased homes. Homes on the property selling for the $130,000+ and has an excellent resident group. There is a great community center that is over 4,000 sq ft with a library and social center for the residents. There's also a 6 stall garage that could be rented out for storage. With a very nice stick built home that is rented out for a modest $750. The acreage on the property is 131 acres and has a ton of room for growth. Attached is a preliminary map for the expansion plans. With this property being in immaculate condition, it provides a wonderful platform to keep developing!

Location

Excellent location in Oneonta, NY placed on 131 acres with room for major expansion!

Amenities

  • Storage
  • Club House
Interested in purchasing this mobile home park? Get pre-qualified for a loan.

Park Information

Community Type: 55 And Over
Number of MH Lots: 39
Total Occupancy: 100.0 %
Year Built: 1996
Average MH Lot Rent: $350
Size: 131 acre(s)

Financial Information (Actual)

Gross Income: $152,977
Operating Expense: $61,245
Net Operating Income: $91,732
Expense Ratio: 40.0 %

Lot Information

Doublewide Lots: 39

Utility Information

Water: Well
Water Paid By: Park
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 1
Average Rent for Park-owned Homes: $750

Other Listings by IRE Investment

Similar Mobile Home Parks for Sale