Mobile Home Park Details

  • Purchase Method: Cash, Seller Financing
  • Property ID: 1167119
  • Posted On: Dec 13, 2019
  • Updated On: Sep 8, 2020

Property Description

Colliers International is pleased to offer Village Park MHC, an 80 site community located within the Dayton MSA, just 10 minutes south of downtown. Dayton is Ohio’s fourth largest city with a MSA population of 800,000 and 200,000 within a five mile radius of the community. Some of the areas largest employers include Wright-Patterson Air Force Base (27,500 jobs), Premier Health (13,800 jobs), Kettering Health Network (8,400 jobs) and Honda of America (3,300 jobs) just to name a few. Area colleges include University of Dayton, Wright State University and Kettering College.

The opportunity is situated only minutes west of I-75 on approximately 9.48 acres in Flood Zone AE; however the owner reports that he’s had no flooding issues throughout his ownership spanning back to 2005. In addition to the community, a 9,000 square foot vacant warehouse that has great exposure to Dryden Road will also trade with the property.

The on-site manager and maintenance staff utilize a designated office located at the entrance of the community. The manager reads the sub meters and bills back residents for actual usage for city water and sewer, the owner is billed quarterly by the county.

A water leak was recently repaired in January 2020 reducing the water bill by almost $10,000.

There are currently 51 homes on sites: 21 resident owned, 6 community-owned rentals, 13 abandoned homes and 11 vacant community-owned homes that are in various states of repair. There appears to be only 24 empty sites as a few homes are set across more than one empty site. Several empty sites have utility hook-ups available and the electrical meters vary between 50, 100 and 200 amp service.

Village Park MHC offers new investors the opportunity to renovate the existing vacant homes, bring in new homes and capitalize on the large delta between asking site rent ($225) and market rent ($328). Seller financing is available for experienced operators.

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Park Information

Community Type: All Age
Number of MH Lots: 80
Total Occupancy: 67.8 %
Year Built: 1955
Average MH Lot Rent: $283
Size: 10 acre(s)

RV Information

Average RV Lot Rent: $283

Utility Information

Water: City
Water Paid By: Tenant - Submetered
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 17
Average Rent for Park-owned Homes: $250

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