Contact Information

Mobile Home Park Details

  • Price: $1,700,000
  • Cap Rate: 8.4%
  • Property ID: 1146860
  • Posted On: Oct 21, 2019
  • Updated On: Oct 21, 2019

Property Description

Capstone Manufactured Housing is pleased to present Valley Mobile Home Court: a 45-site community in Newark, Ohio, situated within the Columbus MSA. The community is currently 96% occupied and features tremendous value-add opportunities. An incoming investor will have the ability to increase the already solid cash flow by simply bringing current rents to a fair market rate—nearby competitors’ rents average $73 more per site. While the property is 96% occupied, current ownership has not increased rents since 2017; thereby, leaving a rare opportunity to come in and immediately boost cash flow. Additionally, the community is currently paying for residents' utilities without any recapture: allowing for tremendous upside potential. This offering presents investors the opportunity to acquire a well-maintained park with solid occupancy and strong value-add potential.

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Park Information

Community Type: All Age
Number of MH Lots: 45
Total Occupancy: 96.0 %
Average MH Lot Rent: $290
Size: 8 acre(s)

Utility Information

Water: Well
Water Paid By: Park
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 31

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