413 Saratoga RdSchenectady, NY 12302

Glenville Manor, a Class B mobile home park located at 413 Saratoga Rd, Schenectady, NY 12302, presents a compelling investment opportunity. This 8.85-acre property boasts 88 units, with all but four being tenant-owned (one stick-built home and three garage spaces). Currently, the park enjoys an 82.49% occupancy rate, generating a Net Operating Income (NOI) of $290,159, representing a 6.00% capitalization rate. Pro forma projections indicate a significant increase in NOI to $348,140, resulting in a 6.79% capitalization rate. The property features paved roads, city water, and septic systems. Tenants are responsible for garbage and electricity costs. Importantly, the park manager and a maintenance person are committed to remaining with the property, ensuring a smooth transition for new ownership. The park's location within the Albany-Schenectady-Troy metro area offers strong potential for future growth and increased rental income. Fourteen vacant lots provide additional development opportunities. The asking price for this exceptional investment is $4,840,000.