This property is located in Gouverneur, a small town in upstate New York. It is a rural community with a need for affordable housing. Gouverneur is 37 miles from the Army base of Fort Drum and the Zinc Mines have creating a need for housing. At this point there is a shortage of rentals and we have seen an increased interest for homes in the mobile home park.
These residents pay their lot rent and it is a good consistent income property. The park has 20 sites of which 10 are occupied. We have 2 levels of lot rent: Average lot which runs $290 and Premium(larger lots) which is $350. There are 4 lots that are ready to put a mobile home on immediately. They are sites that had a home on them previously. They are all premium sites.
We are selling this property as we are nearing retirement age and are eventually going to sell all of our holdings. We already have one park in Gouverneur which we spend summers improving.