2657 State Route 3 Fulton, NY 13069

Silber Syracuse is a 73-site mobile home community located in Fulton, NY. The property features 20 tenant-owned homes with a monthly rate of $411, 31 occupied park-owned homes at $859 per month, 11 vacant park-owned homes, 3 occupied apartments at $680 per month, and 8 vacant lots equipped with full infrastructure including water, sewer, trash, and pads. The occupied park-owned homes have been fully remodeled and are of approximately 1990s vintage. The investment strategy involves gradual rent increases to market rates, renovating and leasing or selling vacant park-owned homes, and developing the remaining eight sites. Additional opportunities include implementing water billbacks and converting two existing 3,000 SF storage buildings into rentable storage bays. Comparable remodeled homes (1980s–2000s vintage) in the area have sold for between $40,000 and $100,000. The park is served by city water and on-site septic, with two large tanks servicing the community. Silber Syracuse offers immediate cash flow with potential from utility reimbursements, occupancy gains, and infill in a metro area of over 650,000 residents, supported by a planned $100 billion investment by Micron, expected to create 9,000 direct jobs and 50,000 indirect jobs over the next 15 years. The seller is willing to provide a small second-lien seller-financed note to qualified buyers, collateralized by park-owned homes, to support financing.