Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 8.2%
  • Listing ID: 2031489
  • Posted On: Feb 8, 2023
  • Updated On: Nov 13, 2023

Description

Got to www.wiselycr.com for more information.

Community Video: https://youtu.be/sGwHuwS0WNI

Offering Memorandum Link: https://www.crexi.com/properties/1046029/ohio-meadows-ohio-mhc?offeringMemorandum=download

PROPERTY OVERVIEW
Wisely Commercial Realty is pleased to offer for sale Meadows Ohio MHC located in Canton, Ohio. This is a rare opportunity to acquire 59 mobile home sites, 89 self-storage units, 2 apartment units, single-family home, and a U-Haul business. The owner has done a great job improving the property the past few years and is ready for the next owner to complete maximizing the potential the property offers. The community is situated on 6.46 acres of land. The property is serviced by well Water and City Sewer.

OFFERING SUMMARY
Total Price: $2,250,000
IN-Place NOI: $184,911
IN-Place Cap Rate: 8.2%

Price Per Unit: $14,901
MHC Sites: 59
Storage Units: 89
Single Family Home: 1
Apartment Units: 2
Total Units: 151
MH Occupancy: 73%
Storage Units Occ: 71%

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Park Information

Community Type: All Age
Number of MH Lots: 59
Total Occupancy: 73.0 %
Size: 7 acre(s)

Financial Information (Actual)

Gross Income: $299,738
Operating Expense: $114,827
Net Operating Income: $184,911
Expense Ratio: 38.3 %

Utility Information

Water: Well
Water Paid By: Tenant - RUBs
Sewer: City

Video

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