DESCRIPTION

7.  5 acre currently 55+ mobile home/trailer park with 32 lots plus a 20x30 store front and a 3 car garage.  16 filled lots, 16 to develop and sell homes, endless possibilities here.  Sale includes ownership of 6 homes , 2 of which are 2 family homes.  The store is currently vacant, but could rent for $1200/mo the garage is occupied by the on-site manager who lives next door his management fee equals the rent.  He can stay on or he will pay rent.  Two of the lots are occupied by duplex homes, meaning 4 apartments total.  (double wides that are two families each) they are not finished, but will be finished prior to the closing.  Therefore, brand new apartments, each with 1.  5 bedrooms, 1 ba, full size laundry room, and central ac.  Would expect minimum $1300 each additional rent income ($5200/mo) these are on chassis and axles and can be moved if not wanted.  The interior is not finished and can still be changed into a 1-family or a mother daughter arrangement, or they can be left as is for a discount.  Whatever the buyer wishes.  8 lots are occupied by tenant owned homes.  Lot rent is 645.  00 starting 6/1.  Tenants pay their own taxes, water, and utilities.  6 lots have park-owned single-wide homes.  5 are rented, one just became vacant and needs to be rehabbed.  There is city water and sewer.  The tenants have their own meters from the village.  Natural gas is on site but not currently being used.  Current rent roll: lots 3,4,5,7,8,9,17, & 22 each pay $645.  00 + tax’s and utilities.  Total $5,160.  00 lot 19 park owned and rented $1,300.  00 lot 20 park owned and rented $1,325.  00 lot 21 park owned and rented$1,500.  00 lot 23 park owned in the process of being rehabbed.  Can be sold or rented for $14- $1,500.  00 can be rented prior to closing or left empty for buyer to sell lot 24 park owned and rented $1,125.  00 lot 27 park owned and rented $1,300.  00 garage $645.  00 total $8,675.  00 duplex apartments $1,300 each x 4 total $5,200.  00 ______________ total as is $19,082.  00 potential additional rent: store $1,200.  00 7 oversize lots @ $700.  00 each total $4,900.  00 9 regular lots @ $645.  00 each total $5,805.  00 ______________ total potential future rent $11,905.  00 total rent when full at current rent rate $31,000.  00 sale of 16 new homes with profit of $25,000.  00 each $400,000 with profit of $30,000.  00 each $480,000 the taxes are about $14,000 per year the insurance is $2,200 and includes coverage on the park owned homes.  Electric for street lights and sewer pumps is a couple hundred a month plowing is $150 per plow lawn mowing of common area is $150.  00 once each week or two in season.  Will go down when the lots are rented.  Tenants mow their own.  Whole package, including the finished duplex homes and 6 double wides included in price.  The duplex homes are estimated to be worth $200k each and the package of mobile homes $250k.  Total value of homes = $650k close to beautiful park on the river with shops, restaurants etc , nys thruway etc.  Zoned multifamily commercial- to be verified by buyer (agent)


Data is provided by OneKey MLS.