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Granite Creek 670 Granite Rd 12 Unit Mobile Home Park $867,000 ($72,250/Unit) 7.63% Cap Rate Kerhonkson, NY 12446
EXECUTIVE SUMMARY
*80 Miles from New York City.
*Expansion opportunities. Potential for 36 more sites.
*12 unit MHP
*12.2 Acre Parcel , with a potential for expansion pending city approvals currently only 2 acres are developed.
*Well and 7 Septic tanks that are in great shape.
*Vacancy rate less than 1% for rentals in Ulster County.
*Located near restaurants, wineries and minewaska state park.
*Hospitals and wal-marts are with in a 5 minute travel.
*Upside in rent increases.
*Located in a certifiable Targeted Employment Area (TEA). Possibly an Eb-5 development opportunity.
*Mostly Tenant Owned with One Park Owned Home
*TENANTS ALL PAY- this is a great turn key property
*Located in Ulster County
*Expansion opportunities. Potential for 36 more sites.
*12 unit MHP
*12.2 Acre Parcel , with a potential for expansion pending city approvals currently only 2 acres are developed.
*Well and 7 Septic tanks that are in great shape.
*Vacancy rate less than 1% for rentals in Ulster County.
*Located near restaurants, wineries and minewaska state park.
*Hospitals and wal-marts are with in a 5 minute travel.
*Upside in rent increases.
*Located in a certifiable Targeted Employment Area (TEA). Possibly an Eb-5 development opportunity.
*Mostly Tenant Owned with One Park Owned Home
*TENANTS ALL PAY- this is a great turn key property
*Located in Ulster County
PROPERTY FACTS
| Price | $867,000 | Property Subtype | Manufactured Housing/Mobile Home |
| Price Per Unit | $72,250 | Building Class | C |
| Sale Type | Investment | Lot Size | 12.20 AC |
| Cap Rate | 7.63% | Average Occupancy | 100% |
| Gross Rent Multiplier | 8.89 | No. Stories | 1 |
| No. Units | 12 | Year Built/Renovated | 1970/2005 |
| Property Type | Multifamily |
| Price | $867,000 |
| Price Per Unit | $72,250 |
| Sale Type | Investment |
| Cap Rate | 7.63% |
| Gross Rent Multiplier | 8.89 |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Manufactured Housing/Mobile Home |
| Building Class | C |
| Lot Size | 12.20 AC |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1970/2005 |
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Granite Creek | 670 Granite Rd
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