Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park

Mobile Home Park Details

  • Cap Rate: 8.2%
  • Listing ID: 649670
  • Posted On: Mar 29, 2016
  • Updated On: Mar 15, 2017

Description

Marcus & Millichap is pleased to present Oakwood Crossings located in Greenwich, Ohio; Huron County. The community consists of 117 sites with private water and sewer, paid for by the landlord. The average rent is $250, which is approximately $25-$30 below market. The community is being offered for $1,750,000, in addition to the real estate offering, the seller is asking $900,000 for the 53 rental/contract homes which breaksdown to $16,981 per home.

The community currently is 74 percent occupied and there are 31 vacant sites. The Seller stated that there is a 15 person waiting list to move into the community, however they do not have any vacant inventory. Major employers consist of education, assisted living and retail.

Greenwich is within a little over one hour from Akron and Cleveland.

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Park Information

Community Type: All Age
Number of MH Lots: 117
Total Occupancy: 74.0 %
Year Built: 1984
Average MH Lot Rent: $250
Size: 30 acre(s)

Financial Information

Gross Income: $258,000
Operating Expense: $115,432
Net Operating Income: $142,568
Expense Ratio: 44.7 %

Lot Information

Singlewide Lots: 117

Utility Information

Water: Well
Sewer: Septic

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