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.
Location
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
Amenities
- Storage
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 |
