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Jonathon Mcclellan

Marcus & Millichap

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Bel-aire Mobile Home Park

Mobile Home Parks for Sale in Toledo, Ohio

Photo of Mobile Home Park
Photo of Mobile Home Park

Contact Information

Jonathon Mcclellan
Marcus & Millichap

Mobile Home Park for Sale

Number of MH Lots: 124
Cap Rate: 9.4%
Status: Off Market
Property ID: 15454
Posted on: Aug 17, 2010
Updated on: Jun 15, 2011

Property Description

Bel-Aire Mobile Home Park,
located in Toledo, Ohio is licensed for 124 sites. The
community sits blocks away from the main campus of the
University of Toledo and is justdown the road from the the
University of Toledo South Campus-Scott Park. Bel-Aire is
currently 98 percent occupied and is on public utilities.
The tenants are billed by a third party company for their
water and sewer usage.

The community offers an investor the opportunity to purchase
a stable cash flowing asset with very little deferred
maintenance. The current owner has invested over $500,000
into the community since 2007. The majority of the tenants
pay $240 per month in lot rent, but any new
tenant moving in will pay $250 per month. Based off of the
current operations the community offers a 10 percent return
on an investors down payment.

Attachments

ES-Bel Aire.pdf

Park Information

Number of MH Lots:124
Total Occupancy:98.0%
Year Built:1955
Average MH Lot Rent: $240

RV Information

Average RV Lot Rent: $240

Park-Owned Homes

Number of Park-owned Homes:0
Average Rent for Park-owned Homes: $0