1028 Dix AveHudson Falls, NY 12839

Property Details for 1028 Dix Ave

Year built

1968

Lot size

3.09 AC

Property size (Sq ft)

780 SF

Zone code

LDR25

Property type

Mobile home & RV parks

APN

534489 146.17-1-16

APU

53448914617116

Description

This exceptional investment opportunity presents a well-maintained 38-unit mobile home park situated on a 3.09-acre lot at 1028 Dix Ave, Hudson Falls, NY 12839. Currently boasting an 86.43% occupancy rate, the park generates a substantial Net Operating Income (NOI) of $145,366, translating to a 7.65% capitalization rate. Pro-forma projections indicate a significant increase in NOI to $167,561 and a boosted cap rate of 8.82%. All homes within the park are tenant-owned, minimizing management responsibilities. Five vacant lots offer immediate potential for increased revenue. The park benefits from city water and septic systems, with tenants responsible for garbage, water, and electricity costs. Furthermore, the park manager and maintenance personnel are committed to remaining, ensuring a smooth transition for the new owner. This Class B property is located in Washington County and presents a compelling investment opportunity with strong potential for growth and return. The property's current performance and future projections make it an attractive addition to any real estate portfolio.

• CAP approach

  CAP return

  Valuation

  6%

  $240,267

  6.5%

  $221,785

  7%

  $205,944

• Comparable approach

  Method

  Valuation

  Relative Method

  $159,030

  Geo Method

  $157,968

• Alternative Use

  Use

  Valuation

  Residential

  $221,785

  Hospitality

  $203,154

  Educational

  $169,022

  Medical

  $174,835

  Retail

  $262,923

Location Insight

City

Hudson Falls

County

Washington

State

New York

Latitude

43.3172

Longitude

-73.5943

CBSA code

24020

CBSA name

GLENS FALLS, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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