Mobile Home Park Details
- Purchase Method: Cash, Seller Financing, New Loan
- Cap Rate: 11.3%
- Listing ID: 1281052
- Posted On: Jul 1, 2020
- Updated On: Jul 10, 2020
Description
This is a 20 site park. 11 are occupied. This park has a great potential upside between the unfilled sites and the 20 acres that can be developed.
7 are lot rent only and 4 are park owned rentals. City water and park owned septic. We have replaced and added septic tanks and pumps. We have upgraded the electric. It is a pleasant park with many long term residents. We live in Nevada and are ready to retire. We intended to keep developing the park as it has 20 acres and is one of the best mobile home parks in the area but decided to sell to someone who could keep going. You can easily double your income by adding more sites. The town is willing to help with the water install.
Owner will Carry with substantial down payment.
Location
Gouverneur is a small town in upstate New York. The growing industry there iis the mines and
Fort Drum is only a half hour drive.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 20 |
| Year Built: | 285 |
| Size: | 20 acre(s) |
Financial Information (Actual)
| Gross Income: | $58,440 |
| Operating Expense: | $6,720 |
| Net Operating Income: | $51,720 |
| Expense Ratio: | 11.5 % |
Lot Information
| Singlewide Lots: | 20 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Individual Service |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 4 |
| Average Rent for Park-owned Homes: | $730 |
