130 Timberwall Road, Saugerties, NY 12477 (MLS# 20135563)
$1,520,000
Saugerties, NY 12477
MLS# 20135563
Status: Closed
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Property Description
Fully approved 49 unit mobile home park in Saugerties. Solid rental property will very little management needed. Each mobile home pad has its own septic & leach field. 50% of the water lines in the park have been replaced in the last 15 years. This 24 acre park may offer an additional 2-3 more mobile home pads with some clearing. All rental checks are mailed directly to the owner. 48 units are currently occupied, there is one vacant pad with electric, water & sewer ready for occupancy. See assoc docs
Details
Contract Information
Listing Agreement: Exclusive Right To Sell
Owner Name: CPI 3 Development LLC
Owner Phone: Call LA
Occupant Name: Tenants
Current Price: $1,520,000
Original List Price: 2100000
Sold Price: $1,520,000
Status: Closed
Listing Contract Date: 2013-12-02
Property Sub Type: Other
Location, Tax, and Legal
General Tax: 19797
School Tax: 27052
Tax Assessed Value: 1591000
Tax Legal Description: 7.200,2,130 Timberwall Rd
Tax Lot: 7.200
Tax Block: 2
Zoning Description: Mobile Home Pk
Directions: From Woodstock, Rte 212 to Right onto Glasco Tkp. follow to Right onto Timberwall Rd.
General Property Information
Number Of Units Total: 49
Lot Size Acres: 24.6
Lot Size Dimensions: Irregular
Sign On Property YN: No
Year Built: 1985
Remarks and Miscellaneous
Public Remarks: Fully approved 49 unit mobile home park in Saugerties. Solid rental property will very little management needed. Each mobile home pad has its own septic & leach field. 50% of the water lines in the park have been replaced in the last 15 years. This 24 acre park may offer an additional 2-3 more mobile home pads with some clearing. All rental checks are mailed directly to the owner. 48 units are currently occupied, there is one vacant pad with electric, water & sewer ready for occupancy. See assoc docs
Status Change Information
Status Change Timestamp: 2016-05-02
Buyer Financing: Other
Concessions Amount: 0
Major Change Timestamp: 2016-04-28T23:45:54Z
Major Change Type: Status Change
Purchase Contract Date: 2014-04-29
Close Date: 2016-04-28
Close Price: 1520000
Book Information
Liber/Book: 4251
Page: 160
Section: 28.3
Construction Materials
Other: 1
See Remarks: 1
Listing Terms
Lease Option: 1
Lot Features
Cul-De-Sac: 1
Road Frontage Type
County Road: 1
Sewer
Septic Tank: 1
Showing Considerations
Occupied: 1
Income and Expenses
Cap Rate: 10
Electric Expense: 8214
Gross Income: 22080
Gross Scheduled Income: 264960
Insurance Expense: 1187
Manager Expense: 2600
Net Operating Income: 190828
New Taxes Expense: 46849
Other Expense: 6272
Supplies Expense: 250
Total Annual Expenses: 74132
Water Expense: 7562
Owner Pays
Insurance: 1
Tenant Pays
All Utilities: 1
Location
Rural: 1
Business Type
Mobile/Trailer Park: 1
Showing Requirements
Call Listing Agent: 1
Showing Information
Showing Instructions: Call Greg 845-389-7895
Historical Information
UC Public Historical Remarks: Garage/Parking Extras: DRIVEWAY,LOT,OFF STREET,Parking Spaces 20+, Age: 41-60, Electricity: On-site, Lease Type: One Year, Water Source: Drilled Well
Location Tax and Legal
Street Number: 130
Street Name: Timberwall
Street Suffix: Road
State: NY
Zip Code: 12477
Town (Taxable): Saugerties-Town
Property Features
Business Type: Mobile/Trailer Park
Construction Materials: Other; See Remarks
Listing Terms: Lease Option
Location: Rural
Lot Features: Cul-De-Sac
Owner Pays: Insurance
Road Frontage Type: County Road
Sewer: Septic Tank
Showing Considerations: Occupied
Tenant Pays: All Utilities
Showing Requirements: Call Listing Agent
Listing Courtesy of Win Morrison Realty-K
Listing Agent: Gregory Berardi