84 Twining Road

Exceptional mixed-use investment opportunity on 5.08 acres in the Village of Mount Morris, offering multiple established income streams with meaningful long-term upside. The property includes 21 occupied mobile-home pads, 30 self-storage units, a mixed-use commercial/residential building with a daycare on the first floor and two apartments above, plus a separate 3-bedroom, 1.5-bath residence. Pro forma gross annual income is approximately $178,000, including a $1,500/month owner leaseback of the residence upon closing. Existing rents remain generally below market across the mobile-home pads, apartments and self-storage units. This creates long-term income-growth potential through lawful lot-rent increases, apartment and storage rent adjustments, and other operational improvements. Mobile-home lot-rent increases are subject to applicable New York manufactured-home-park regulations, including statutory limitations on annual increases. The property is operationally efficient. Mobile-home residents own their homes and are responsible for maintaining their individual lots and driveways, including lawn care and snow removal. Utilities are largely tenant-paid or separately serviced, while the self-storage component requires minimal utility expense. Common-area lighting is LED-based. The main commercial building is currently occupied by a daycare on the first floor, with two residential apartments above. The building was originally constructed as a laundromat and retains substantial plumbing, drainage and electrical infrastructure, providing future flexibility should the space ever be repurposed. A potential 22nd mobile-home pad is currently used as a grassy play area for the daycare. Water and electric service remain in place, offering possible future income potential subject to applicable approvals and requirements. No income from this potential pad is included in the current pro forma. The property has been owned and operated by the same ownership for decades and has been consistently maintained with limited deferred maintenance. Updated underwriting includes a 6% third-party property-management allowance, in addition to normalized allowances for common-area maintenance, snow removal, mowing and repairs. Extensive records are available, including leases, payment histories, security-deposit records, operating statements, tax returns, surveys/plans and environmental documentation. A prior Phase I Environmental Site Assessment completed in 2000 identified no material environmental concerns at that time; the report is available for review. This is a rare opportunity to acquire a well-documented, diversified income property with strong occupancy, public utilities, limited landlord maintenance burden and multiple avenues for long-term income growth. Detailed financial and due-diligence materials are available to qualified purchasers following execution of an NDA and receipt of satisfactory proof of funds or commercial financing capability. One more thing: if Crexi still shows the old 7.52% cap rate, I would change that. Our latest management-adjusted underwriting no longer supports 7.52%. The stabilized analysis with the 6% management allowance is approximately 7.07%, while underwriting strictly against the rounded $178K public pro forma is closer to 6.88%. I would not leave 7.52% up there.

Mobile Home Park | 10.80% CAP

Mobile Home Park | 8.49% CAP

***Financials corrected on 03-10-2025*** Amity Estates MHC is a two-park manufactured housing portfolio located in Belmont and Angelica, NY (Allegany County). Situated just six miles apart, these turnkey, income-producing communities offer a combined 34 pads, with 30 currently occupied, presenting an immediate cash-flow opportunity. Both parks feature on-site management and maintenance personnel, ensuring smooth day-to-day operations. Angelica, NY MHC 145-165 East Main Street, Angelica, NY 14709 • Built 1968 • 3.2 Acres • 13 Pads (all occupied) accommodating 14x70 trailers • 10 POH ($750/month average), 3 TOH ($450/month average) • Recent Rent Increase: 2024 • Utilities: City water (back billed), private septic, tenants pay individual gas & electric • Infrastructure: PVC water lines, 100-amp pedestals, metered utilities • Roads: Gravel (fair condition, maintained by park) • Tenant Responsibilities: Lawn care; manager handles snow removal • Leases: Annual leases; rent collection via direct deposit, Section 8, DSS Recent Improvements: • Four POH renovated • New septic tank (2023) • Skirting/flooring updated on most trailers • Gravel added to roads Future Value-Add Potential: Continued road improvements, power washing & painting POH, and one additional trailer renovation. Belmont, NY MHC 5425 Trianna St, Belmont, NY 14813 • Built in 1970 • 6.4 acres • 21 Pads (17 Occupied) accommodating 14x70 trailers • 16 POH (14 occupied, $600/mo avg.), 1 TOH ($650/mo avg.) • Last Rent Increase: 2022 • Utilities: City water, private septic, tenants pay direct gas/electric • Infrastructure: PVC water lines, 100-amp pedestals, metered utilities • Roads: Gravel (fair condition, maintained by park) • Tenant Responsibilities: Lawn care; manager handles snow removal • Leases: No formal leases; rent collection via direct deposit, Section 8, DSS Recent Improvements: • Four POH renovated • Two brand-new septic tanks ($20,000 investment) • New gravel throughout park (2023) • New furnaces, stoves, and ovens in POH • Eviction of two non-paying tenants Future Value-Add Potential: Additional tree removal at front of park, continued road maintenance. Amity Estates MHC (Investment Highlights) • Immediate Cash Flow – 30 occupied units across both parks • Value-Add Potential – Room for rent increases and continued infrastructure upgrades • Established Operations – On-site management & maintenance in place • Tenant-Paid Utilities – Tenants cover electric, gas, and water (Belmont); water back billed in Angelica • No Major Infrastructure Additions Needed – All vacant pads are ready for infill. Amity Estates MHC presents a rare opportunity to acquire two stabilized parks in a growing rental market. With established cash flow, operational efficiencies, and future upside potential, this portfolio is ideal for both experienced investors and those looking to expand their MHC holdings. Jennifer Stein is the Listing Broker for this listing and is licensed in the State of NY under LIC#10351218792. Jonathan Fisher is an out-of-state cooperating broker who is licensed in the State of Illinois under Lic#471.020503. Location Belmont is centrally positioned in Allegany County, offering easy access to major routes such as State Route 19 and Interstate 86, which connect to larger cities like Buffalo, Rochester, and Erie, PA. Here are some of the largest employers in the county: • Alfred State College – A public college offering a range of associate and bachelor's degree programs. • Alfred University – A private university known for its programs in engineering, art, and business. • Allegany County Government – The county's administrative body, providing various public services. • Ljungström ARVOS Group – Located in Wellsville, this company specializes in designing and manufacturing heat exchangers for industrial applications. • Allegany Arc – An organization offering services and support to individuals with developmental disabilities. • Jones Memorial Hospital – A healthcare facility providing medical services to the county's residents. • Saputo Dairy Foods USA – Operating in Friendship, this company is involved in dairy product manufacturing. • Dresser-Rand – Also located in Wellsville, Dresser-Rand is a global supplier of custom-engineered rotating equipment solutions for various industries. • Wellsville Central School District – The public school system serving the Wellsville area. • Houghton College – A private Christian liberal arts college located in Houghton.

Mobile Home Park | 10.55% CAP

For Sale