Marcus & Millichap is pleased to present a 60 site manufactured housing community located in Northeast Ohio. The community is located approximately 20 minutes outside of Akron and 40 minutes south of Cleveland, Ohio.

The community will offer an investor upside in both sub-metering the water and sewer, as well as continuing to fill the vacant lots. The community is on a private well and sewer treatment plant that is currently maintained by the current owner as well as a third party.

Rents in the community vary from $300-$350 depending on the number of persons living in the home. At the asking price of $800,000 ($13,333 per site and a 9.97 percent cap rate) a new operator can expect to achieve a 17.78 cash on cash return based off of a 75 percent LTV, 5.5 percent rate and amortization of 25 years.