255 Main St Delhi, NY 13753-1077
- Mobile home & RV parks
- 3,840 SF
- 2.50 lot acres
Jun 25, 2021
Current Use by Public Records
- Mobile home & RV parks
Property Details for 255 Main St
- Year built
- 1960
- Lot size
- 2.50 lot acres
- Property size
- 3,840 SF
- Property type
- Mobile home & RV parks
- APN
- 122801 149.19-5-1
- APU
- 1228011491951
Description
This exceptional investment opportunity presents a 17-unit mobile home park situated on a spacious 2.5-acre lot in Delhi, New York. Currently boasting 100% occupancy, the property generates a strong NOI of $64,412, translating to a compelling 9.59% capitalization rate. Pro forma projections indicate a potential NOI of $67,191 and a 10.00% cap rate, showcasing significant upside potential. The park comprises 17 units, including 10 tenant-owned homes, 2 park-owned homes, and one vacant lot. Adding to the property's value is a four-family apartment complex located on the site. The property benefits from city sewer and well water. Its convenient location is just five minutes from SUNY Delhi and within the Delaware Academy School District. Delhi offers a blend of historical charm and modern amenities, attracting a stable tenant base. The property is well-maintained and managed, ensuring consistent cash flow and minimizing operational concerns. This is a rare opportunity to acquire a well-performing mobile home park in a desirable location with excellent growth prospects. The asking price is $672,000.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Delhi
- County
- Delaware
- State
- New York
- Longitude
- -74.9065
- Latitude
- 42.2872
