991 Us-11Gouverneur, NY 13642

Property Details for 991 Us-11

Lot size

11.10 AC

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional investment opportunity presents the Gouverneur MHP, a 20-unit mobile home park situated on an expansive 11.1-acre lot in Gouverneur, New York, within St. Lawrence County (zip code 13642, located at 991 US-11). Currently boasting a 73% occupancy rate, the park comprises 12 park-owned homes (POH) and 6 tenant-owned homes (TOH), along with two vacant lots featuring vacant park-owned homes. The property's strong financial performance is highlighted by a current Net Operating Income (NOI) of $63,483 and a projected Pro-Forma NOI of $70,625, translating to an attractive 12.09% capitalization rate. The asking price for this well-positioned asset is $525,000. Adding to its potential, an additional 5 acres at the rear of the property have been cleared and are zoned for mobile home park use, presenting significant expansion opportunities for future growth and increased revenue. This Class B property offers a compelling combination of immediate income generation and substantial long-term upside. The property's location in Gouverneur, NY provides access to a stable tenant base and a strong local economy. This is a rare opportunity to acquire a well-established mobile home park with significant potential for appreciation.

Location Insight

City

Gouverneur

County

St. Lawrence

State

New York

Latitude

44.3147

Longitude

-75.4971

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