Marcus & Millichap is pleased to present a 350 Site Manufactured Housing Community portfolio in the Columbus, Ohio MSA. Known as the Caravan Village Portfolio, the total acquisition makes up two communities that is approximately 75 percent occupied, whereas comparable communities in Columbus are closer to 85 percent. Caravan Village, Harmon Avenue, consists of 204 sites and Shepherd Road is 146 sites. The average monthly rent for both communities is $271.40. Both communities bill their tenants back for their usage of water and sewer. Harmon Avenue is on city water and sewer, whereas Shepherd Road is on wells and a private sewer treatment plant. The STP was recently rebuilt at an expense of $235,000.

The portfolio offers an Investor a large amount of upside by increasing occupancy, limiting the bad debt and getting a handle on the 52 percent expense ratio as shown in 2010. With an aggressive marketing campaign and the ability to stabilize each community an Investor could maximize their return over the first few years of operations.

As of June 2011, $55,741 in inventory homes and $19,413 in home balances will pass through at closing to buyer.