10 Erie Street, Mt Morris

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.