For Auction
Asset Snapshot
Investment Highlights
Offering Summary
Brokered by Marcus & Millichap and powered by RealINSIGHT Marketplace, the 2 Park Portfolio is a stabilized two-community manufactured housing portfolio totaling 63 sites on ±30.13 acres in Upstate New York. Deerfield Estates in Amsterdam (Montgomery County) and Valley Estates in Johnstown (Fulton County) sit roughly 2 miles apart on the same county highway, allowing a single management footprint across both assets. The portfolio is 95.2% occupied, comprising 59 tenant-owned homes, 1 rent-to-own contract, 1 vacant park-owned home, and 2 vacant lots, plus a garage unit rented to the onsite manager, for 64 total rental units. Upside includes lot infill, rent growth, operational improvements, and a concept site plan for 22 additional lots. Both parks are served by private well water and private sewer, with a wastewater treatment plant at Deerfield Estates and a septic system at Valley Estates. Water, sewer, and curbside trash are landlord-paid; electric, gas/propane, and cable are billed directly to tenants. Roads are private, and ownership handles common-area mowing and snow removal. Neither community is in a flood zone or opportunity zone. Amsterdam has a median household income of $56,178 and a median home value of $137,900 versus $423,800 statewide, making it one of the most affordable housing markets in New York.
Due Diligence
Location
The portfolio sits in the Mohawk Valley along the Interstate 90 corridor, roughly 30 miles northwest of Albany within the Albany-Schenectady-Troy MSA. Deerfield Estates in Amsterdam and Valley Estates in Johnstown are about 2 miles apart on County Highway 107. Amsterdam is one of the most affordable housing markets in New York State, a backdrop for lower-cost housing demand.
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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.
