Remarks

Mobile Home Park Investment Opportunity – Gouverneur, NY | (Projected) 10.24% Cap | Expansion Potential

Come take a look at a cash-flowing mobile home park on 11 acres in Gouverneur, NY, originally established in 1975. This value-add opportunity features stable income, public utilities, and a significant expansion upside.

With a projected Cap Rate at 10.24%, opportunity is there! The park currently is at an occupancy rate of 65% (vacancy rate 35%). There are 20 Total Manufactured Homes at this time – 12 park-owned, 6 tenant-owned, 2 vacant. Property also features more acres in rear, zoned for development. Land has been cleared in the past, but sits relatively flat, and ready for expansion. The highlight is Public Water & Sewer is connected already, and provides a convenient utility year round, directly to the park.

Park is located in extremely close Proximity to Fort Drum – expanding tenant demand and regional stability

Public sewer and water truly are a huge asset to the park, and it also features long term tenants who have over 20+ years experience living in this location. The park is in a quiet, rural setting, but also in a prime location only a short drive to Fort Drum, a major employer and population center.

Financials & Rent Roll Available Upon Request.
Ideal for investors seeking strong yield and long-term appreciation.

Serious inquiries only. NDA may be required for detailed financials.

Details

MLS#: S1618069
Price: $599,000

Style: Business
Sq Ft: 938
Year Built: 1975

County: St Lawrence
Lot Size: 36X1000
Tax Fee: 14494

School Middle: Gouverneur Middle
School High: Gouverneur High
School District: Gouverneur