Skip to main content

Mobile Home Park

Wayside MHP

3447 South Park Ave, Buffalo, NY 14219

Listing Price: Request For Offer

Number of Spaces
65
Lot Size
3.70 acres
Occupancy
93.8%
Spaces/Acre
17.57
Year Built
1980

Investment Overview

The Esterson MHC Team is pleased to present Wayside MHP, a 65 Lot, manufactured home community in Buffalo, NY. This stable asset also has easily achievable upside opportunities. The community sits just 5 miles from the center of Downtown Buffalo, New York with access to all that the city has to offer and it’s just 15 minutes from Buffalo Niagara International Airport. This community has 65 active MH lots. The park consists of 54 tenant owned homes that currently pay an average lot rent of $418 per month and two of these tenant owned homes are brand new 2022 homes that have been sold to tenants, 6 rented park owed homes that are also brand new 2022 homes, 4 vacant park owned homes, and 1 storage garage. The parks lot rent and home rents are below market compared to the current market rent set at $450-$500 according to the JLT rent survey. The overall market can support substantially higher lot rents based on limited affordable housing supply and growing demand in this market. The park is serviced by a public water and sewer which are billed back to new tenants, which is currently 12 of them. Trash is curbside pick-up and paid for by the new tenants as well, existing tenants trash is included in rent. All systems are in good working order. The privately maintained roads are in average to below average condition and will need to be repaved or overlayed. There is currently an on site manager that helps run the park. The park should qualify for agency financing should an investor look to go that route with it. We will not be providing any pricing guidance and all serious offers will be considered. Please write your offer as you are ready to do so, there will be no call for offers date.

Investment Highlights

  • The Esterson MHC Team is pleased to present Wayside MHP, a 65 Lot, manufactured home community in Buffalo, NY. This stable asset also has easily achievable upside.
  • The parks lot rent and home rents are below market compared to the current market rent set at $450-$500 according to the JLT rent survey.
  • The park should qualify for agency financing should an investor look to go that route with it.

Exclusively Listed By

  • Glenn D. Esterson

    Vice President Investments

    (678) 808-2723

    Email Glenn

    License(s): NC: 272218, GA: 355850

    Charlotte Uptown

  • Parker Kelly

    Senior Associate

    Email Parker

    License(s): GA: 385444

    Atlanta

Broker of Record

  • John Horowitz

    Broker of Record

    (718) 475-4300

    License(s) NY: 10311204479

    New York

Mobile Home Park

Wayside MHP

Listing Price: Request For Offer

Number of Spaces
65
Lot Size
3.70 acres
Occupancy
93.8%
Spaces/Acre
17.57
Year Built
1980

Investment Highlights

  • The Esterson MHC Team is pleased to present Wayside MHP, a 65 Lot, manufactured home community in Buffalo, NY. This stable asset also has easily achievable upside.
  • The parks lot rent and home rents are below market compared to the current market rent set at $450-$500 according to the JLT rent survey.
  • The park should qualify for agency financing should an investor look to go that route with it.

Investment Overview

The Esterson MHC Team is pleased to present Wayside MHP, a 65 Lot, manufactured home community in Buffalo, NY. This stable asset also has easily achievable upside opportunities. The community sits just 5 miles from the center of Downtown Buffalo, New York with access to all that the city has to offer and it’s just 15 minutes from Buffalo Niagara International Airport. This community has 65 active MH lots. The park consists of 54 tenant owned homes that currently pay an average lot rent of $418 per month and two of these tenant owned homes are brand new 2022 homes that have been sold to tenants, 6 rented park owed homes that are also brand new 2022 homes, 4 vacant park owned homes, and 1 storage garage. The parks lot rent and home rents are below market compared to the current market rent set at $450-$500 according to the JLT rent survey. The overall market can support substantially higher lot rents based on limited affordable housing supply and growing demand in this market. The park is serviced by a public water and sewer which are billed back to new tenants, which is currently 12 of them. Trash is curbside pick-up and paid for by the new tenants as well, existing tenants trash is included in rent. All systems are in good working order. The privately maintained roads are in average to below average condition and will need to be repaved or overlayed. There is currently an on site manager that helps run the park. The park should qualify for agency financing should an investor look to go that route with it. We will not be providing any pricing guidance and all serious offers will be considered. Please write your offer as you are ready to do so, there will be no call for offers date.

Exclusively Listed By

  • Glenn D. Esterson

    Vice President Investments

    (678) 808-2723

    Email Glenn

    License(s): NC: 272218, GA: 355850

    Charlotte Uptown

  • Parker Kelly

    Senior Associate

    Email Parker

    License(s): GA: 385444

    Atlanta

Broker of Record

  • John Horowitz

    Broker of Record

    (718) 475-4300

    License(s): NY: 10311204479

    New York

MM Texture Background
MM Textured Background Lower