Contact Information
Jon Fisher
License: 471.020503 (IL) 18000549 (IN) 117228 (SC)
Mobile Home Park Details
- Price: $1,600,000
- Purchase Method: Cash, New Loan
- Cap Rate: 10.0% (Actual)
- Listing ID: 6832373
- Posted On: Feb 26, 2025
- Updated On: Mar 10, 2025
Description
***Financials corrected on 03-10-2025***
Amity Estates MHC is a two-park manufactured housing portfolio located in Belmont and Angelica, NY (Allegany County). Situated just six miles apart, these turnkey, income-producing communities offer a combined 34 pads, with 30 currently occupied, presenting an immediate cash-flow opportunity. Both parks feature on-site management and maintenance personnel, ensuring smooth day-to-day operations.
Angelica, NY MHC
145-165 East Main Street, Angelica, NY 14709
•Built 1968
•3.2 Acres
•13 Pads (all occupied) accommodating 14x70 trailers
•10 POH ($750/month average), 3 TOH ($450/month average)
•Recent Rent Increase: 2024
•Utilities: City water (back billed), private septic, tenants pay individual gas & electric
•Infrastructure: PVC water lines, 100-amp pedestals, metered utilities
•Roads: Gravel (fair condition, maintained by park)
•Tenant Responsibilities: Lawn care; manager handles snow removal
•Leases: Annual leases; rent collection via direct deposit, Section 8, DSS
Recent Improvements:
•Four POH renovated
•New septic tank (2023)
•Skirting/flooring updated on most trailers
•Gravel added to roads
Future Value-Add Potential:
Continued road improvements, power washing & painting POH, and one additional trailer renovation.
Belmont, NY MHC
5425 Trianna St, Belmont, NY 14813
•Built in 1970
•6.4 acres
•21 Pads (17 Occupied) accommodating 14x70 trailers
•16 POH (14 occupied, $600/mo avg.), 1 TOH ($650/mo avg.)
•Last Rent Increase: 2022
•Utilities: City water, private septic, tenants pay direct gas/electric
•Infrastructure: PVC water lines, 100-amp pedestals, metered utilities
•Roads: Gravel (fair condition, maintained by park)
•Tenant Responsibilities: Lawn care; manager handles snow removal
•Leases: No formal leases; rent collection via direct deposit, Section 8, DSS
Recent Improvements:
•Four POH renovated
•Two brand-new septic tanks ($20,000 investment)
•New gravel throughout park (2023)
•New furnaces, stoves, and ovens in POH
•Eviction of two non-paying tenants
Future Value-Add Potential:
Additional tree removal at front of park, continued road maintenance.
Amity Estates MHC (Investment Highlights)
•Immediate Cash Flow – 30 occupied units across both parks
•Value-Add Potential – Room for rent increases and continued infrastructure upgrades
•Established Operations – On-site management & maintenance in place
•Tenant-Paid Utilities – Tenants cover electric, gas, and water (Belmont); water back billed in Angelica
•No Major Infrastructure Additions Needed – All vacant pads are ready for infill.
Amity Estates MHC presents a rare opportunity to acquire two stabilized parks in a growing rental market. With established cash flow, operational efficiencies, and future upside potential, this portfolio is ideal for both experienced investors and those looking to expand their MHC holdings.
Jennifer Stein is the Listing Broker for this listing and is licensed in the State of NY under LIC#10351218792. Jonathan Fisher is an out-of-state cooperating broker who is licensed in the State of Illinois under Lic#471.020503.
Location
Belmont is centrally positioned in Allegany County, offering easy access to major routes such as State Route 19 and Interstate 86, which connect to larger cities like Buffalo, Rochester, and Erie, PA.
Here are some of the largest employers in the county:
•Alfred State College – A public college offering a range of associate and bachelor's degree programs.
•Alfred University – A private university known for its programs in engineering, art, and business.
•Allegany County Government – The county's administrative body, providing various public services.
•Ljungström ARVOS Group – Located in Wellsville, this company specializes in designing and manufacturing heat exchangers for industrial applications.
•Allegany Arc – An organization offering services and support to individuals with developmental disabilities.
•Jones Memorial Hospital – A healthcare facility providing medical services to the county's residents.
•Saputo Dairy Foods USA – Operating in Friendship, this company is involved in dairy product manufacturing.
•Dresser-Rand – Also located in Wellsville, Dresser-Rand is a global supplier of custom-engineered rotating equipment solutions for various industries.
•Wellsville Central School District – The public school system serving the Wellsville area.
•Houghton College – A private Christian liberal arts college located in Houghton.
Park Information
| Number of MH Lots: | 34 |
| Total Occupancy: | 88.0 % |
| Year Built: | 1970 |
| Average MH Lot Rent: | $450 |
| Size: | 10 acre(s) |
Financial Information (Actual)
| Gross Income: | $215,576 |
| Operating Expense: | $56,347 |
| Net Operating Income: | $159,229 |
| Expense Ratio: | 26.1 % |
Lot Information
| Singlewide Lots: | 34 |
| 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: | Tenant - Individual Service |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 26 |
| Average Rent for Park-owned Homes: | $610 |
