Ellet
Ellet2
Ellet3
Mobile Home Park Details
- Purchase Method: New Loan
- Cap Rate: 9.8%
- Listing ID: 402596
- Posted On: Sep 17, 2013
- Updated On: Feb 18, 2015
Description
Jonathon McClellan and Kyle Baskin of Marcus and Millichap are pleased to present Ellet Mobile Home Park, a 46 site manufactured home community in Akron, Ohio. Ellet offers an investor the opportunity to acquire a
community that has held a occupancy rate above 90 percent
over the past eight to ten years. Ellet is on City Water and
Sewer and the tenants are responsible for paying their own
utilities which is submetered by the landlord. At the current
asking price of $895,000, a new investor will be able to
purchase the community at a 9.79 percent capitalization
rate and a 22.87 percent total return.
Interested in purchasing this mobile home park? Get pre-qualified for a loan.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 46 |
| Total Occupancy: | 93.5 % |
| Year Built: | 1957 |
| Average MH Lot Rent: | $265 |
| Size: | 6 acre(s) |
Financial Information
| Gross Income: | $152,115 |
| Operating Expense: | $64,497 |
| Net Operating Income: | $87,618 |
| Expense Ratio: | 42.4 % |
Lot Information
| Singlewide Lots: | 46 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Submetered |
| Sewer: | City |
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