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Address is 384 Lake Luzerne, NY 12846

Steven Tomaso

IRE Investment

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Lake Luzerne MHP

Mobile Home Community for Sale in Lake Luzerne, New York

384
Lake Luzerne, NY 12846

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Sale Price: $580,000

Contact Information

Steven Tomaso
IRE Investment

Mobile Home Park for Sale

Number of MH Lots: 23
Size: 3.7 acre(s)
Cap Rate: 11.1%
Status: Sale Pending
Property ID: 885374
Posted on: Dec 09, 2017
Updated on: Jun 25, 2018
Price: $580,000

Property Description

The Lake Luzerne MHP is a 23 site property with public water, septic, occupied with 18 resident owned homes, 1 park owned home (unoccupied) and a cap rate of just over 11%. Property is very turn key and has some room for upside with 4 lots still open.

Attachments

LLOMREV.pdf

Park Information

Number of MH Lots:23
Total Occupancy:70.0%
Year Built:1970
Average MH Lot Rent: $395
Size:3.7 acre(s)

Financial Information (Actual)

Gross Income$75,498
Operating Expense$10,981
Net Operating Income$64,517
Expense Ratio 14.5%
Debt InfoNone

Lot Information

Singlewide Lots:23
Doublewide Lots:0
Triplewide Lots:0
Park Model Lots:0

RV Information

Number of RV Lots:0
Average RV Lot Rent: $0

Utility Information

Water:City
Water Paid By: Park
Sewer:Septic

Park-Owned Homes

Number of Park-owned Homes:1
Average Rent for Park-owned Homes: $0