Contact Information

Mobile Home Park Details

  • Price: $3,970,000
  • Cap Rate: 6.9%
  • Property ID: 1343749
  • Posted On: Oct 20, 2020
  • Updated On: Apr 16, 2021

Property Description

This institutional quality manufactured housing community is
located on the outside of the Capital District in NY. It has public
water and sewer available at the entrance of the community. It is
primarily occupied by newer double wides. Has paved roads and is
very well maintained & landscaped. The community is stabilized
with an occupancy rate of over 90%. Land leases are strong with
some upside opportunities. The property has a total of 80 sites. It is also conveniently located next to a manufactured home dealer,
presenting opportunities for new customer acquisition. Also
conveniently located near the expressway.


Colonial Village is located 28 miles from Schenectady, 40 miles
from Albany, 52 miles from Hudson, 53 miles from Saratoga
Springs and 87 miles from Poughkeepsie. It is also located
conveniently next to Walmart and other shopping outlets


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Park Information

Number of MH Lots: 80
Total Occupancy: 93.7 %
Year Built: 1970
Average MH Lot Rent: $450
Size: 35 acre(s)

Financial Information

Gross Income $474,468
Operating Expense $170,106
Net Operating Income $274,362
Expense Ratio 35.9 %
Debt Info

Utility Information

Water: Well
Water Paid By: Park
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 6
Average Rent for Park-owned Homes: $1,000

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