I have 3 small parks in Northern NY in a small hamlet close to each other I am putting up for sale.
The lack of housing is a crisis here.
Another park owner, a clean operation, is capitalizing adding new homes and selling them as fast they go in. In fact he is now full.
Here is the rundown. Park #1, 3 acres, 18 pads, 11 homes, 8 TOH, 1 POH. Two older empty POH, could be rehabbed. Paved roads, town supplied w/s tenants billed by town, Lot rent is $315.00 and will go up3- 6% May 1st.
Park 2, a mile away, 3 acres, rents are $315 scheduled to increase May 1st, similar to #1 but has gravel roads, just resurfaced, and a modern trouble free sewage lift station equipped with new grinder pumps on a new duplex controller, There are 17 lots with 8 occupied. There is room for of at least 2 more pads.
It includes an old farm house on the property which used to be the owners house, with a 2 story garage/shop out back. The house is vacant and needs some work, but has new windows and a newer boiler and new flooring.
Park #3, 4 miles from park #2, 10.5 acres on top of a well drained low slope hill, private water and sewer, individual septic tanks, the perc rate excellent. 24 lots but only 4 occupied. I actually like the private water sewer. It is much cheaper, I have few problems.
It has an adjoining vacant 30 acres, with limited subdividing potential.
It has a one acre parcel across the road, on a flow (a pond in the creek made by a dam) with a log cabin house that I use for storage.
The entire package is for sale for $838,482.80 based on a cap rate of 10% for parks 1 and 2, the value of the house, and the value of the land for park #3 because with 3 paying tenants it just breaks even so a cap rate wouldn’t reflect the value.
Owner financing can be considered with a strong financial statement, credit rating , personal guarantee.
Financials and other details will be available to serious inquires providing qualifications. This offer and terms are not binding and may be retracted or changes without notice.