HIGH ACRES & FAIRDALE PARK

BEMUS POINT & LAKEWOOD, NEW YORK

high acres 24 (1 of 1)
high acres 2 (1 of 1)
high acres 23 (1 of 1)
high acres 26 (1 of 1)
high acres 6 (1 of 1)
high acres 28 (1 of 1)
high acres 4 (1 of 1)

Listed By:

Jonathon McClellan

(216) 264-2023

Jonathon.McClellan@marcusmillichap.com

Kyle Baskin

(216) 264-2059

Kyle.Baskin@marcusmillichap.com

Connor Outcalt

(216) 264-2029

Connor.Outcalt@marcusmillichap.com

John Krueger

Broker of Record - Manhattan

License 10311205789

Property Highlights

SITES

OCCUPANCY

AVERAGE SITE RENT

LOT SIZE

2017 NOI

2018 NOI

2019 NOI

PRO FORMA NOI

REAL ESTATE PRICE

HOMES PRICE

TOTAL PRICE

187

71%

$339

66 Total Acres

$288,577

$288,479

$297,099

$307,591

$4,500,000

$100,000

$4,600,000

Investment Highlights

  • Two Communities Containing 187 Total Sites
     

  • Opportunity to Implement an Aggressive Sales Program to Increase Occupancy
     

  • 71 Percent Occupied
     

  • Very Few Park Owned Homes
     

  • Conveniently Located Near a Walmart Supercenter

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Property Overview

Marcus & Millichap is pleased to present the opportunity to acquire two manufactured housing communities located in New York. The communities are all-age and contain a total of 187 sites. High Acres is a 175 site community located on approximately
66 acres in Bemus Point while Fairdale Park is located in Lakewood and contains 12 sites on .70 acres just south of High Acres. 
Out of the 187 total sites, only 3 are park owned homes (2 Occupied + 1 New Inventory Home). The communities must be bought as a package and will be delivered free and clear.
 

The communities are 71% occupied allowing a new investor to implement an aggressive sales program while still benefiting from the steady income of the already occupied sites. High Acres is serviced by private water and public sewer that is sub-metered
while Fairdale Park is serviced by public water and sewer that is sub-metered.


The communities are located within 8.5 miles of one another allowing an investor to enjoy economic efficiencies through management and maintenance consolidation. Fairdale Park is conveniently located across the street from a Walmart Supercenter and Chautauqua mall while High Acres is located near the Southern Tier Expressway (Interstate 86).

GET IN TOUCH:

Jonathon McClellan
Senior Managing Director Investments

Jonathon.McClellan@marcusmillichap.com

(216) 264-2023

SOCIAL LINKS:

Kyle Baskin

Senior Managing Director Investments

Kyle.Baskin@marcusmillichap.com

(216) 264-2059

Jacqueline Sawchik

Executive Assistant | Marketing Coordinator

Jacqueline.Sawchik@marcusmillichap.com

(216) 264-2062

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© 2017 by McClellan & Baskin MHC Group