4 King Rd Harpursville, NY 13787-1941

Property Details for 4 King Rd

Year built

1920

Lot size

8.41 lot acres

Property size

1,744 SF

Property type

Mobile home & RV parks

APN

032600 100.02-1-28

APU

3260010002128

Description

This exceptional investment opportunity presents Creekside Village, a 36-unit mobile home park situated on 9.3 acres of recently surveyed land in Harpursville, NY. Conveniently located just 19 miles from Binghamton, off State Route 88, this Class B property offers significant upside potential. Currently boasting a 73.38% occupancy rate, the park generates a strong NOI of $107,352, translating to a 9.76% cap rate. However, a pro-forma analysis reveals a potential NOI of $127,861 and an impressive 11.62% cap rate, indicating substantial room for growth. The park comprises 15 park-owned single-wide homes, 3 tenant-owned homes, and a single-family 4-bedroom brick home with a garage, along with a 1-bedroom single-family home. Furthermore, there are 16 vacant lots, fully serviced and ready for development, with one pad already poured. The property features a well and septic system. The asking price for this lucrative investment is $1,100,000. Built in 1970, this established park presents a compelling opportunity for investors seeking strong returns and potential for value appreciation in a growing market. The property's strategic location and existing infrastructure provide a solid foundation for future expansion and increased profitability.