For Auction
Asset Snapshot
Offering Summary
RealINSIGHT Marketplace, in partnership with Sunstone Real Estate Advisors, is pleased to offer for auction Collins and Underwood Estates MHC, two REO manufactured housing communities totaling 107 sites in Plattsburgh, New York (Clinton County). The properties represent a unique value-add opportunity for an experienced manufactured housing operator to acquire two communities serviced by city water and sewer. Water, sewer, and trash are currently paid by the properties, presenting the opportunity to submeter and bill back usage to residents and increase NOI. Currently 59% occupied with 51 tenant-owned homes, 3 park-owned rentals, and 9 third-party-owned homes, the portfolio offers significant upside through infill of new homes, occupancy growth, and utility recapture. Average lot rent is $427 per month. The properties benefit from close proximity to Lake Champlain and the Saranac River, and Plattsburgh is approximately one hour from downtown Montreal and Burlington, Vermont via Interstate 87. With over 170,000 people within 20 miles, average household incomes near $100,000, and average home values around $370,000, the surrounding market supports consistent demand for affordable housing options.
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Platform Fee
Buyer pays a minimum platform fee of 5% or $25,000 at closing.
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Disclaimers
The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions. Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property. You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.
