35033 Eddy Rd, Theresa, NY 13691-2290

This exceptional 103-unit mobile home park in Theresa, NY, presents a compelling investment opportunity. Situated on a sprawling 144-acre lot in Jefferson County, this Class B property boasts significant development potential with pre-approved plans for an additional 100 sites by the New York State Health Department. Currently operating at 79.72% occupancy, the park generates a strong NOI of $244,899, yielding a 9.24% cap rate. Pro forma projections indicate a substantial increase to a 10.50% cap rate and a NOI of $278,274. The park features 73 occupied lots, with a mix of 44 tenant-owned and 30 park-owned homes, along with 29 vacant lots ready for development. Infrastructure is robust, including paved roads, underground utilities (including natural gas), a newly constructed water system (installed in 2018, complete with supply pumps, filtration, and controls), and a private septic system comprised of three separate tanks and five sand-filtered beds. This well-maintained property offers a rare combination of immediate income and significant future growth potential in a desirable location. The expansive acreage provides ample room for expansion and future development, capitalizing on the pre-approved plans for additional sites. This is an ideal investment for those seeking a strong return on investment with considerable upside. The property is located at 35033 Eddy Rd, Theresa, NY 13691.