Mobile Home Park Details

Purchase Method: Cash
Listing ID: 458174
Posted On: Jul 9, 2014
Updated On: Jan 26, 2015

Description

" Opportunity to acquire a sizable, all age community with public utilities in close proximity to Lake Erie.
" Outstanding management turnaround opportunity to achieve high total returns by filling remaining vacant sites.
" Ability to bring in new homes and implement a sales or rental program to increase occupancy.
" Offering includes 2 inventory homes, both in need of rehab work.
" The community is serviced by municipal utilities which are currently included in rent.
" Opportunity to sub-meter water and sewer and begin billing back to tenants.
" Most roads in the community were recently repaved.
" Once successfully re-positioned, the community may be eligible for attractive financing for the owner to potentially cash out some or most of their initial investment.

Location

" Western Reserve is located steps from the shores of Lake Erie in Madison, Ohio, which has a population of over 3,000.
" Community is located in the Madison Local School District, which received the Excellent Rating by the State of Ohio' s Board of Education.
" Madison is conveniently situated off of Interstate 90 which leads to Cleveland 45 miles to the southwest and Ashtabula, OH 16 miles to the northeast.
" The Cleveland-Akron-Canton CSA is the 15th largest in the nation. The area emerged as a leader in manufactured goods due to its location on the Cuyahoga River and Lake Erie. It is also a leader in healthcare for the region and home to the third largest port in the Great Lakes.
" Cleveland is also home to the corporate headquarters of companies such as Applied Industrial Technologies, Cliffs Natural Resources, Eaton NACCO Industries, Sherwin Williams, and KeyCorp.
" Madison sits between two of the larger commercial ports in the United States: Fairport Harbor and the Port of Ashtabula.
" The community is in close proximity to several retail and entertainment destinations including the Madison Plaza Shopping Center, home to Great Lakes Outdoor

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