Photo of Mobile Home Park

Mobile Home Park Details

Purchase Method: Cash, New Loan
Listing ID: 710659
Posted On: Oct 4, 2016
Updated On: Apr 25, 2018

Description

- Being sold as part of a portfolio with Buena Vista Campground and Roundup Lake Campground.
- Opportunity to acquire a well-occupied, 420-site RV park with convenient access from Interstate 87 which runs all the way from New York City to Upstate New York.
- Approximately 80% of the park' s rental income comes from seasonal tenants paying from $2,400 to $2,600 per season, and many tenants leave their RVs in the park year round.
- The property' s location just off of US-87 positions it well to draw transient tenants traveling to and from upstate New York.
- Since the current management team was put in place, approximately $69k of capital projects have been completed including tree trimming, a new basketball court and hoops, two new golf carts, maintenance building renovations, and cleaning up the tent camping area.
- The park' s extensive amenity package includes a swimming pool, catch & release fishing, an enclosed pavilion, playground, horseshoe pits, volleyball, basketball, a softball field, and laundry facilities.
- Appealing low density layout with mature landscaping and large shade trees that offer a peaceful atmosphere for tenants.

Location

- Saratoga county serves as a gateway to the 6.1 million acre Adirondack Park, the largest protected area in the contiguous United States.
- Moreau Lake State Park is minutes from the property and features a pristine lake, beach and hiking trails.
- Nearby Saratoga Springs and Glens Falls offer travelers convenient access to entertainment, services and amenities including several national retailers.
- The world-renowned Saratoga Race Course is 10 miles from the property and draws hundreds of thousands of visitors during the summer meets. A report published in 2015 by the Saratoga County Industrial Development Agency estimates that the track generates $237 million of economic activity for the local economy.
- Every year, thousands gather in Queensbury, 20 minutes from Coldbrook, for the Adirondack Balloon Festival. In addition to the balloon launch, the festival hosts a number of vendors and a craft fair.
- Saratoga Spa State Park, known for its mineral springs, bathhouses and the Saratoga Performing Arts Center, attracted 2.9 million visitors in 2013.

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