Mobile Home Park Details
- Cap Rate: 10.2%
- Listing ID: 1357410
- Posted On: Nov 18, 2020
- Updated On: May 18, 2021
Description
The park is located in Indian Lake of the Adirondack Park. The town of Indian Lake is just a few minutes away. There are deeded lake rights to Indian Lake. With a strong occupancy rate of 89% and all park owned homes. There is a 4.4-acre parcel that could potentially be used for expansion. Presently there are 6 sites with city water.
Location
The park is located in Indian Lake of the Adirondack Park. The town of Indian Lake is just a few minutes away. There are deeded lake rights to Indian Lake.
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Park Information
| Number of MH Lots: | 6 |
| Total Occupancy: | 89.0 % |
| Year Built: | 1960 |
| Average MH Lot Rent: | $550 |
| Size: | 7 acre(s) |
Financial Information (Actual)
| Gross Income: | $36,600 |
| Operating Expense: | $10,781 |
| Net Operating Income: | $21,619 |
| Expense Ratio: | 29.5 % |
Utility Information
| Water: | City |
| Water Paid By: | Park |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 5 |
| Average Rent for Park-owned Homes: | $550 |
