Mobile Home Park Details

  • Purchase Method: Cash, Seller Financing, New Loan
  • Cap Rate: 11.3%
  • Listing ID: 1281052
  • Posted On: Jul 1, 2020
  • Updated On: Jul 10, 2020

Description

This is a 20 site park. 11 are occupied. This park has a great potential upside between the unfilled sites and the 20 acres that can be developed.
7 are lot rent only and 4 are park owned rentals. City water and park owned septic. We have replaced and added septic tanks and pumps. We have upgraded the electric. It is a pleasant park with many long term residents. We live in Nevada and are ready to retire. We intended to keep developing the park as it has 20 acres and is one of the best mobile home parks in the area but decided to sell to someone who could keep going. You can easily double your income by adding more sites. The town is willing to help with the water install.
Owner will Carry with substantial down payment.

Location

Gouverneur is a small town in upstate New York. The growing industry there iis the mines and
Fort Drum is only a half hour drive.

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Park Information

Community Type: All Age
Number of MH Lots: 20
Year Built: 285
Size: 20 acre(s)

Financial Information (Actual)

Gross Income: $58,440
Operating Expense: $6,720
Net Operating Income: $51,720
Expense Ratio: 11.5 %

Lot Information

Singlewide Lots: 20

Utility Information

Water: City
Water Paid By: Tenant - Individual Service
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 4
Average Rent for Park-owned Homes: $730

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