10 Erie Street, Mount Morris, 14510

Description

Exceptional mixed-use investment opportunity in the Village of Mount Morris offering multiple income streams across one well-maintained 5.08-acre property. Developed and thoughtfully laid out by the current owner beginning in 1990-91, this property includes 21 occupied mobile-home pads, two self-storage buildings with 30 total units, a 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 income is approximately $178,000 annually, with additional upside potential. Current rents throughout the property are considered below market, including mobile-home lot rents, apartment rents, and self-storage rents, providing an incoming owner with meaningful opportunity for future income growth. Only three self-storage units are currently vacant. The mobile-home residents own their homes and maintain their individual lots and driveways. Public water and sewer serve the property, with individual water metering at the mobile-home sites. A potential 22nd mobile-home pad currently serves as a grassy playground area for the daycare; water and electric service remain in place, offering possible future redevelopment as an additional income-producing pad subject to applicable requirements. The main commercial building was originally constructed as a laundromat with exceptionally substantial construction and infrastructure. The first floor is currently occupied by a daycare, while the original plumbing, drainage, and substantial electrical infrastructure offer future flexibility should the space ever be repurposed. Two residential apartments occupy the second floor. Long-term ownership has maintained the property in very good condition with limited deferred maintenance. Diversified tenancy, strong historical occupancy, public utilities, and considerable rent-growth potential make this a rare turnkey income-producing opportunity. Detailed financial information, operating statements, leases, surveys, and additional property documentation are available to qualified buyers upon request and proof of funds or financing capability.

Aerial View of this Location

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