Otica Acres MHP 359 Co 48 rd 5 Unit Mobile Home Park £270,119 (£54,024/Unit) 12.42% Net Initial Yield Otego, NY 13825
EXECUTIVE SUMMARY
Elevate your investment portfolio with this stunning multi-family property boasting 5 Park Owned Homes. Nestled on a picturesque hill, this property offers breathtaking mountain views that will captivate both residents and investors alike. With a reliable septic system and well in place that are not subject to any daily tests from the Department of Health, rest assured that this property is equipped to provide a seamless living experience while maximizing your return on investment.
Located in the heart of Otego, NY, this commercial property offers an excellent opportunity for businesses seeking a strategic location with accessibility and small-town charm. Positioned just off Interstate 88, the property benefits from convenient connectivity to Oneonta (10 minutes east) and Binghamton (45 minutes south), making it an ideal location for retail, office, or industrial use.
Located in the heart of Otego, NY, this commercial property offers an excellent opportunity for businesses seeking a strategic location with accessibility and small-town charm. Positioned just off Interstate 88, the property benefits from convenient connectivity to Oneonta (10 minutes east) and Binghamton (45 minutes south), making it an ideal location for retail, office, or industrial use.
PROPERTY FACTS
| Price | £270,119 |
| Price Per Unit | £54,024 |
| Sale Type | Investment |
| Net Initial Yield | 12.42% |
| Gross Rent Multiplier | 6.77 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Manufactured Housing/Mobile Home |
| Apartment Style | Single-Family Home |
| Building Class | C |
| Lot Size | 2.95 AC |
| Average Occupancy | 100% |
| Number of Floors | 1 |
| Year Built | 1970 |
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PROPERTY TAXES
| Parcel Number | 364889-325-000-0001-008-001-0000 | Improvements Assessment | £54,101 |
| Land Assessment | £34,708 | Total Assessment | £88,808 |
