Mobile Home Park Details

  • Listing ID: 3313931
  • Posted On: Jul 5, 2023
  • Updated On: Sep 21, 2023

Description

Investment Summary

• Extremely nice 55+ park with 55 units. Property is turn key with all resident owned homes. City sewer and well water.

Location Summary

• The property is nicely located near Albany, Troy and Columbia County. Albany-Schenectady-Troy Metro Area's population is 898,265 people. Since 2020, it has had a population growth of 1.8%.

• Albany-Schenectady-Troy Metro Area median home price is $294,600. Home appreciation the last 10 years has been 10.6%.

• Compared to the rest of the country, Albany-Schenectady-Troy Metro Area's cost of living is 1.6% lower than the U.S. average. More Cost of Living or Compare Albany-Schenectady-Troy Metro Area's Cost of Living

• The Albany area includes six counties, the cities of Troy and Schenectady and the historic Saratoga Springs area to the north. An assortment of commercial and state government activities support this state capital. Downtown Albany area is modern with a number of historic sites and an attractive waterfront. Suburbs are fairly nondescript. There is an assortment of mostly small arts and cultural amenities throughout the metropolitan area. Schenectady is an older industrial center known once for producing railroad locomotives and known past and present as a major center for the General Electric Company.

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Park Information

Number of MH Lots: 54
Total Occupancy: 100.0 %
Average MH Lot Rent: $600
Size: 26 acre(s)

Financial Information

Gross Income: $387,012
Operating Expense: $124,873
Net Operating Income: $262,139
Expense Ratio: 32.3 %

Lot Information

Doublewide Lots: 54

Utility Information

Water: Well
Water Paid By: Park
Sewer: City

Park-Owned Homes

Average Rent for Park-owned Homes: $600

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