1141 Wellman Rd Ashville, NY 14710

Listing agency eXp Commercial

Listed by Phillip Li · License #2563988

Source Crexi

Added: Apr 29 Updated: Jul 20 at 9:17PM Checked: Jul 21 at 8:11AM

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Investment Insights

Based on property information with market context.

Wellman Road MHP is a 37-site mobile home community offered for sale. The property is currently underutilized, with fifteen (15) occupied lot rentals averaging approximately $297 per month and twenty-two (22) vacant pads, creating an immediate path toward lease-up and stabilization.

The community is supported by existing infrastructure and layout. The offering contemplates a phased infill/lease-up approach using vacant pads through tenant-owned homes or park-owned inventory, with NOI growth as occupancy increases.

As presented in the offering materials, the investment strategy is underwritten on below-replacement-cost acquisition and includes pro forma performance targets of an 18.51% cap rate in Year 3 and a 36%+ IRR by Year 6, subject to the assumptions outlined by the seller.

Key Highlights

• 37‑site mobile home community in Busti, NY
• 15 occupied lot rentals averaging approximately $297 per month
• 22 vacant pads provide an immediate path to lease‑up and stabilization

Property Analytics

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FAQs

What type of property is this?

Mobile home & RV park - Wellman Road mobile home community offers 15 occupied lot rentals and 22 vacant pads across 37 sites.

Where is this mobile home & rv park located?

The property is located at 1141 Wellman Rd Ashville, NY.

What is the asking price?

The asking price for this property is $375,000.

What are key features of this property?

This property features: 37‑site mobile home community in Busti, NY; 15 occupied lot rentals averaging approximately $297 per month; 22 vacant pads provide an immediate path to lease‑up and stabilization