Contact Information

Mobile Home Park Details

  • Price: $4,640,000
  • Cap Rate: 6.5%
  • Property ID: 1188366
  • Posted On: Feb 6, 2020
  • Updated On: Feb 6, 2020

Property Description

Lake Erie MHC has a total of 159 MH lots and 4 additional units within a single family home, including an office for the park. There is a total of 159 MH spaces with 113 tenants with 68 lot rent only tenants paying an average of $405, 38 rented POHs paying an avg of $246, 5 rent to own homes, and 3 vacant POH. There is also a single-family home with 4 units, one of which is used as an office, 2 are rented, 1 is vacant and used for storage. Current occupancy is at 69.33%. The POHs are in above average condition with 20+ homes being 2014-2018 vintage. The overall average POH age is 2003.

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Park Information

Number of MH Lots: 163
Total Occupancy: 69.3 %
Size: 20 acre(s)

Financial Information

Gross Income $602,343
Net Operating Income $307,773
Debt Info

Utility Information

Water: Well
Sewer: Treatment Plant

Park-Owned Homes

Number of Park-owned Homes: 43

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