53 Main Mill St
- 107 MH sites - Plattsburgh, New York (Clinton County)
- Proximate to Lake Champlain and Saranac River
- One hour drive to Montreal – prime gateway to the Quebec-New York corridor
- City utilities – all utilities are not billed back – opportunity for utility recapture
- 65% occupancy - tremendous opportunity to infill new homes to drive occupancy and improve the community
- $440 per month average lot rent
Property Description
Collins and Underwood Estates MHPs represent a unique opportunity for an experienced manufactured housing operator to acquire two properties, in close proximity to each other, totaling 107 sites with value-add upside. Located in Plattsburgh, NY, part of Clinton County, the properties are serviced by city water and sewer. All utilities, including water, sewer, electric, and trash, are currently paid by the park – presenting the opportunity to bill back the residents and increase NOI. Situated within the City of Plattsburgh, the properties benefit from Lake Champlain and the Saranac River. Plattsburgh is one of the prime gateways between the U.S. and Canada near the Quebec-New York corridor. The city is approximately an hour drive from downtown Montreal. The property presents significant upside for a well-capitalized buyer, as the current occupancy is 65%. Of the occupied sites, 58 sites are TOH or 84% - with the remaining being third-party owned. Average lot rent is $440 per month. The buyer is positioned with the opportunity to infill the community with new homes and drive occupancy as the greater submarket is well-occupied.
Key Property Information
| Listing Status: | Unavailable |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| No. of Units: | 107 |
| Lot Size: | 1.00 Acres |
| Opportunity Zone: | No |
| Property Website | Click Here |
Investment Analyzer
Sponsored by:
Step 1Financing Calculation
Step 2Gross Rent Analysis
Please enter annual amounts.
Step 3Cap Rate Calculation
Step 4Final Deal Analysis
Similar Properties in the Area
5801 Ellsworth Ave
Shadyside, Pennsylvania
616 Union St
California, PennsylvaniaBrokers
View All-
Remax Professionals
Re/Max Real Estate Professionals | New York
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Eamonn McConnell
Avison Young - CA - ON - Greater Toronto
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout