Contact Information

Mobile Home Park Details

  • Price: $343,700
  • Cap Rate: 12.0%
  • Property ID: 1273202
  • Posted On: Jun 17, 2020
  • Updated On: Jun 17, 2020

Property Description

*Strong rent collections
*15 land leases
*1 rented park owned home
*1 vacant park owned home
*4 vacant mobile home lots with entitlements & all hook ups
*New water treatment system with 3 wells
*Main road paved on property, with 2 side roads that are gravel
*Some newer homes & double wides in unit mix
*On-site resident receives rental credit to mow lawn
*On-site maintenance resident received rental credit to perform maintenance duties

Location

Fingerlakes market-close to Corning, Ithaca, Elmira and PA border.

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Park Information

Community Type: All Age
Number of MH Lots: 21
Total Occupancy: 77.0 %
Year Built: 1970
Average MH Lot Rent: $370
Size: 7 acre(s)

Financial Information (Actual)

Gross Income $72,000
Operating Expense $30,744
Net Operating Income $41,256
Expense Ratio 42.7 %
Debt Info

Lot Information

Singlewide Lots: 13
Doublewide Lots: 4

Utility Information

Water: Well
Water Paid By: Park
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 2
Average Rent for Park-owned Homes: $450

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