85 Co RdPotsdam, NY 13676

Property Details for 85 Co Rd

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional investment opportunity presents a 32-unit mobile home park located at 85 Co Rd 59, Potsdam, NY 13676, in St. Lawrence County. The property boasts a current occupancy rate of 91.78%, generating a Net Operating Income (NOI) of $48,828, and a current capitalization rate of 9.77%. A pro-forma analysis projects a significantly improved NOI of $76,144 and a pro-forma capitalization rate of 15.23%. The park features 32 sites, each with full hookups. Currently, there are 8 tenant-owned homes (TOH) and 6 park-owned homes (POH), plus one additional unit requiring either demolition or significant repair (this unit is not included in the current rent roll). The property utilizes a well and septic system, and a brand new pump house has recently been installed. Its strategic location offers convenient access to major educational institutions, being only 3.9 miles from Clarkson University and 5 miles from SUNY Potsdam. Potsdam is also known for its highly-rated public school system, making this a desirable location for families. The asking price for this well-maintained mobile home park is $500,000, representing a compelling investment opportunity with significant upside potential. The property is classified as Class B.

Location Insight

City

Potsdam

County

St. Lawrence

State

New York

Latitude

44.6156

Longitude

-74.978

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