Mobile Home Park Details
- Distressed: This property is in default, REO or in foreclosure.
- Purchase Method: Cash, New Loan
- Listing ID: 1137770
- Posted On: Sep 25, 2019
- Updated On: Nov 21, 2019
Description
Somerset MHP is in Warren Township, which sets in between Lords town oh and Warren Oh just minutes from Youngstown Ohio. With plenty of major manufacturing companies providing a large employment base for residents. Some include Automobile machine shops, steel fabrication and large warehouses. Warren is also only an hour from Cleveland OH. This is a very populated area.
This mobile home park has so much potential, for an active investor that will be hands on with the property, do the evictions that are needed, rehab the homes needed an upside would be seen very quickly. There is a very strong need for low income housing, any time we have had a home ready it is filled right away. There is also a large amount of request for rv's to fill the lots at monthly vacancy rates. Possibly even bring them in yourself skirt them and sell them on land contract.
The pads to have cracks in them however the previous owner had no problem bringing in new homes with ABS pads. no concrete work was needed.
There were new PVC water lines ran in the park in 2012 only the pads with homes and a few extras were connected to the main. it is very easy to connect another home however we have done it easily and cheaply.
The sewer lines to the best of our knowledge are PVC with clay tiles elbow going up to the riser.
Utilities have been working very well. Other parks in the area charge for the utilities and we dont this would be an instant added value.
We are pretty tight on the price. Please don't call if you are going to ask for a lower price.
We know this park needs a lot of work and is not for everyone. but if you are looking for a park you can start pretty fresh on and put your mark on with time and effort then this is for you. The area in brimming with full mobile home parks. with an active owner manager this park could be too.
Due to its occupancy and condition its probably not going to be able to be financed traditional loan. You will need to show us proof of financing to purchases it before a contract and we will want you to drive it first too.
We also want the prospective buyer to know this park is bring in very little money each month right now do to so many no pays and we don't have the money to evict. $1000 or less each month.
We can not owner carry or lease it either it will have to be purchase
please only serious calls 970-355-9286 Travis
Amenities
- Storage
Park Information
Community Type: | All Age |
Number of MH Lots: | 51 |
Total Occupancy: | 12.0 % |
Year Built: | 1972 |
Average MH Lot Rent: | $298 |
Size: | 0 acre(s) |
Lot Information
Singlewide Lots: | 51 |
Utility Information
Water: | City |
Water Paid By: | Park |
Sewer: | City |