Coming soon! Contact Cole Burchill for more information.

The Esterson MHC Team is pleased to present the 2 Park Portfolio located in Amsterdam, NY (Fulton County), a stabilized investment opportunity consisting of 64 total units across two communities with immediate upside through infill, rent growth, and expansion potential.

Amsterdam sits in the Mohawk Valley approximately 30 miles northwest of Albany along the Interstate 90 corridor. The two communities — Deerfield Estates and Valley Estates — sit roughly 2 miles apart on the same county highway, allowing a single management footprint across both assets. Amsterdam carries a median household income of approximately $56,178 and a median owner-occupied home value of $137,900, making it one of the most affordable housing markets in New York State, where the median home value is $423,800.

This offering consists of 63 mobile home lots across 30.13 acres, including 59 tenant-owned homes (TOH), 1 rent-to-own (RTO) contract, 1 vacant park-owned home, and 2 vacant mobile home lots, presenting a stabilized opportunity at 95.2% occupancy with upside. There is a garage unit currently rented to the onsite manager, for a total of 64 rental units. The average MH lot rent is approximately $492.50/month with projected market lot rents at $525/month. The RTO tenant has 30 months remaining with a monthly payment of $478/month above lot rent. There are conceptual site plan drawings and land has been cleared for ~22 expansion lots at Deerfield Estates offering additional upside potential, if approved, beyond the existing 64 rental units in the portfolio.

Both communities are serviced by private well water and private sewer — a wastewater treatment plant (WWTP) at Deerfield Estates and a septic system at Valley Estates — with water, sewer, and curbside trash all landlord-paid and included in rent. Electric, gas/propane, and cable are tenant-paid direct bill. Roads at both parks are private and unpaved (gravel) and the landlord mows commons and plows snow. Neither community is in a flood zone or opportunity zone.

Over $145,000 in capital improvements have been made from 2024-2026 including major upgrades to the well and WWTP, regulatory compliance enhancements to the WWTP, extensive tree removal to include clearing land for potential expansion, and site preparation, pad construction and driveways to make ready vacant lots. Please see Due Diligence folder for complete detailed list of capital improvements.

The 2 Park Portfolio is being offered through reserve auction with a starting bid of $600,000 (see Auction page for details and link). Trailing twelve-month operations (P&L 0) produced $343,604 of global revenue against $190,314 of global expense, for a global NOI of $153,290. On T-1 annualized operations (P&L 1) at 95.2% occupancy, global revenue rises to $367,445 against the same expense base, producing a global NOI of $177,131. The portfolio is majority tenant-owned homes, with a single park-owned home and one rent-to-own contract, and carries meaningful upside through rent growth as allowed under New York State regulations, infill of the 2 vacant mobile home lots, and lease-up of the vacant park-owned home. Additional potential upside in expanding Deerfield Estates by ~22 lots if approved.

Broker Info:

John Horowitz– Marcus & Millichap

260 Madison Ave, 5th Floor, New York, NY 10016

Lic #: 1031120447

(212) 430-5261