Hamptons Mobile Home For Sale: Now Only $1.2 Million
A 700 sq. ft. mobile home is currently listed for sale in the upscale community of the Hamptons for $1.2 million.
Despite its antiquated and outdated appearance, this property demonstrates that mobile homes can dramatically appreciate in value over time. Particularly when they are placed in the right location. Boasting neighbors like Paul McCartney; this manufactured home has skyrocketed in value over the past 20 years, thanks to the explosion in the housing market along the eastern seaboard.
Hamptons Mobile Home For Sale: Now Only $1.2 Million
Yep, you read right, that’s $1,200,000 for a mobile home…
The affordable Hamptons listing is a 1/1 (one bedroom, one bathroom), 50-year-old manufactured home located on a less than desirable flag lot — i.e., behind another property, with ingress and egress from the street via a long driveway — comprising approximately one third of an acre. And according to The New York Post, the trailer “looks like it could be straight out of ‘Deliverance.'”
However, the mobile home is not in some backwoods trailer park community, but rather sitting in an upscale neighborhood in the Hamptons, right next to Indian Wells Beach.
The owner, a 79-year-old fisherman by the name of Richard Lester, boasted to the New York Post that he had purchased the Hamptons lot back in 1956 for approximately $300. A few months later, Mr. Lester purchased the now million-dollar trailer for $15,000 and placed it on his .36-acre lot.
With current real estate prices hitting historical highs, Lester and his wife felt this was the time to sell their slightly dilapidated mobile home.
As most already know, real estate is all about location, location, location: the wood-paneled trailer was all Lester could afford back in 1956, and the old man of the sea worked extremely hard to earn his place in the Hamptons. But with the passage of time and the appreciation of real estate, Lester knows he owns a veritable gold mine.
Per Yahoo Spaces, the run-down mobile home was first listed in October 2014 for $1.6 million.
