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Multi Family 5+ in Orange County
MLS Number949023
Address120 Casimer Road # 124, Middletown, NY 10941 show map
Price$700,000 show mortgage calculator
Acres2.7
Year Built1980
Est. Sq. Footage0
Elementary School
Jr High-Middle School
High School
Estimated Taxes$8,778
Total Apt Units12
Remarks

Investor Opportunity – Income-Producing Mobile Home Park (Land Only). This listing is for the land associated with a trailer park; no trailers are included in the sale. The property consists of 10 income-producing pad sites, each with individual septic systems and water supplied by the landlord. Current lot rents are $700 per month per pad, generating $84,000 in annual gross income. Annual operating expenses are approximately $11,778, including $8,778 in taxes, $2,400 in dumpster fees, and $600 in electric for the well, resulting in a net operating income of approximately $72,222. This represents a strong double-digit cap rate at the asking price. There is additional upside with potential for 2 additional pad sites. Electric, water, and septic are already in place; pads would require concrete slabs to become rentable, subject to town approval. Market rents in the area support higher rates, offering further long-term upside. Owner financing may be considered depending on down payment and balloon terms. Ideal for cash or 1031 buyers. Do not disturb tenants. Showings by appointment only.

Amenities

This listing is Courtesy of eXp Realty (888-276-0630).

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