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Mobile Home Park Details

Distressed: This property is in default, REO or in foreclosure.
Listing ID: 457479
Posted On: Jul 2, 2014
Updated On: Sep 12, 2014

Description

" REO auction on August 11-13, 2014 at www.auction.com
" Opportunity to acquire an all age, REO community with public utilities and high occupancy within the Cincinnati MSA.
" Parks have agreement with local home brokers and Clayton that gives them six months of free rent when they bring in a home at their expense. They also offer financing to home buyers.
" Outstanding turnaround potential to purchase a well positioned, stabilized community at an attractive basis and still achieve high total returns by filling the remaining sites through a homes sales or rental program.
" Potential to achieve attractive long term financing terms due to the quality and high occupancy of the community.
" Below market rental rates - opportunity to implement a rent increase.
" Appealing low density layout with mature landscaping that offers a peaceful atmosphere for tenants.
" The community has curbs, gutters and streetlights, and a mix of single and double section homes.
" Amenities include a playground and RV storage facility.

Location

" Derby Hills is conveniently located just off of Route 27, which runs straight through the center of Cincinnati' s vibrant downtown district, putting several major employers, sports, and higher education facilities a short drive away.
" The 1000 acre, award winning, A.J. Jolly Park is less than 10 minutes away, offering everything from an equestrian campground with a newly constructed 28 stall barn to a 200 acre fishing lake and 18 hole Frisbee golf. The park is one of the largest in the county and recipient of the Community Press' Reader' s Choice Award for 2009.
" Several major thoroughfares passing through Cincinnati make Louisville, Indianapolis, and Columbus convenient destination spots and put a diverse selection of attractions within reach -- the Kentucky Derby, Thunder over Louisville, the Indianapolis 500, and the Ohio Statehouse.
" The Cincinnati-Middletown MSA boasts a population of over 2 million, and its 5% unemployment rate beats the national average of 6.1%.
" Many residents work at the 325,000 square foot Sara Lee manufacturing plant, which is less than 2 miles away, employs approximately 600 workers, and won a 2008 Dale Carnegie national leadership award.

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