Brookside Mobile Estates, located in Hazlet, New Jersey, is comprised of 90 MH Sites, 3 Single Family Homes and 2 Retail Store Fronts. Situated on highly trafficked Highway 35, tenants enjoy the convenience of nearby shopping, restaurants and entertainment. Brookside is also only a short commute to New York City (40 minutes by car and 1 hour by train, which is a 5 minute walk from the park). The current owner, who has owned and operated the community for the past 33 years, has put significant energy towards capital improvements throughout the years including new water/sewer lines and pulling out numerous older homes and replacing them with updated vinyl sided/pitched roof homes which has greatly enhanced the aesthetics of the community. The community provides an investor the unique opportunity to purchase a MHC in an irreplaceable location void of New Jersey Rent Control with ample upside in both sub-metering and continuing to improve occupancy and huge upside in the sale of new mobile homes. Average of $25,000 per new home sold.
Please note that included in the Purchase Price but NOT underwritten into the list price, is approximately $6,979 of Monthly Income from the 14 POH. The Homes/Home Revenue has been priced in addtion to the Real Estate - Asking Price of $600,000.