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MULTI_FAMILY - Middletown, NY
Investor Opportunity - Income-Producing Mobile Home Park (Land Only). This listing is for the land associated with a trailer park; no trailers are included in the sale. The property consists of 10 income-producing pad sites, each with individual septic systems and water supplied by the landlord. Current lot rents are $700 per month per pad, generating $84,000 in annual gross income. Annual operating expenses are approximately $11,778, including $8,778 in taxes, $2,400 in dumpster fees, and $600 in electric for the well, resulting in a net operating income of approximately $72,222. This represents a strong double-digit cap rate at the asking price. There is additional upside with potential for 2 additional pad sites. Electric, water, and septic are already in place; pads would require concrete slabs to become rentable, subject to town approval. Market rents in the area support higher rate...
Investor Opportunity - Income-Producing Mobile Home Park (Land Only). This listing is for the land associated with a trailer park; no trailers are included in the sale. The property consists of 10 income-producing pad sites, each with individual septic systems and water supplied by the landlord. Current lot rents are $700 per month per pad, generating $84,000 in annual gross income. Annual operating expenses are approximately $11,778, including $8,778 in taxes, $2,400 in dumpster fees, and $600 in electric for the well, resulting in a net operating income of approximately $72,222. This represents a strong double-digit cap rate at the asking price. There is additional upside with potential for 2 additional pad sites. Electric, water, and septic are already in place; pads would require concrete slabs to become rentable, subject to town approval. Market rents in the area support higher rates, offering further long-term upside. Owner financing may be considered depending on down payment and balloon terms. Ideal for cash or 1031 buyers. Do not disturb tenants. Showings by appointment only.
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