1028 Dix Ave Hudson Falls, NY 12839-1056
- Mobile home & RV parks
- 780 SF
- 3.09 lot acres
Oct 15, 2020
Current Use by Public Records
- Dix Mobile Home Park / Rv Park
Property Details for 1028 Dix Ave
- Year built
- 1968
- Lot size
- 3.09 lot acres
- Property size
- 780 SF
- Zone code
- LDR25
- Property type
- Mobile home & RV parks
- APN
- 534489 146.17-1-16
- APU
- 53448914617116
Description
This exceptional investment opportunity presents a well-maintained 38-unit mobile home park situated on a 3.09-acre lot at 1028 Dix Ave, Hudson Falls, NY 12839. Currently boasting an 86.43% occupancy rate, the park generates a substantial Net Operating Income (NOI) of $145,366, translating to a 7.65% capitalization rate. Pro-forma projections indicate a significant increase in NOI to $167,561 and a boosted cap rate of 8.82%. All homes within the park are tenant-owned, minimizing management responsibilities. Five vacant lots offer immediate potential for increased revenue. The park benefits from city water and septic systems, with tenants responsible for garbage, water, and electricity costs. Furthermore, the park manager and maintenance personnel are committed to remaining, ensuring a smooth transition for the new owner. This Class B property is located in Washington County and presents a compelling investment opportunity with strong potential for growth and return. The property's current performance and future projections make it an attractive addition to any real estate portfolio.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $1,460,000
- ML approach
- $1,490,000
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Location Insight
- Map
- Local Demand
- City
- Hudson Falls
- County
- Washington
- State
- New York
- Longitude
- -73.5943
- Latitude
- 43.3172
- CBSA code
- 24020
- CBSA name
- GLENS FALLS, NY METROPOLITAN STATISTICAL AREA
