Mobile Home Park Details

  • Purchase Method: Cash, Seller Financing, New Loan
  • Cap Rate: 9.7%
  • Property ID: 1239220
  • Posted On: Apr 6, 2020
  • Updated On: Jul 23, 2020

Property Description

Located in Ravenna, OH directly next to Haas Auto Mall, this 23 unit Mobile Home/ Multifamily investment is priced to sell! Sitting on 13 acres, this investment includes 13 mobile homes, 4 single family homes, 2 apartments, and 1 warehouse. This property offers an incredible value add opportunity as there is plenty of room to add more trailers. There are 25,000+ cars passing daily on a total of 786' of frontage on Rte. 14 & Rte. 59. At a cap rate of 9.7%, please request the strong financials and act on this great opportunity!

Location

Located in Ravenna, Ohio near the corner of busy St. Rt. 14 and Rt. 59

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Park Information

Community Type: All Age
Number of MH Lots: 13
Total Occupancy: 100.0 %
Size: 13 acre(s)

Financial Information (Actual)

Gross Income $145,435
Operating Expense $40,860
Net Operating Income $104,575
Expense Ratio 28.1 %
Debt Info

Lot Information

Singlewide Lots: 13

Utility Information

Water: City
Water Paid By: Park
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 23
Average Rent for Park-owned Homes: $517

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