Mobile Home Park Details

  • Property ID: 1340835
  • Posted On: Oct 15, 2020
  • Updated On: Feb 11, 2021

Property Description

Colliers International is pleased to present the opportunity to acquire Leinard Manufactured Housing Community, a 63 site manufactured housing community located in the Village of Antwerp, Ohio.​ The property encompasses 10+ acres of a beautifully kept community on the scenic Maumee River frequently used by community residents for fishing and relaxing by the water.​
The Village of Antwerp is conveniently located 24 miles from the center of downtown Fort Wayne, IN.​ On U.​S.​ 24 West, Antwerp residents commute 33 minutes to the city of Fort Wayne- Indiana’s second largest city with an MSA population of 400,000+ people.​ The outstanding chamber of commerce of the Village of Antwerp hosts many annual community events including Day In The Park, Big Boys Toys, Car Show, and the BBQ and Chili Fest.​

Leinard MHC has been a housing staple in the Village of Antwerp since the current owner's father built the park in 1976.​ Because of the high level of care and close management by the owner, Leinard MHC benefits from its cleanliness, its strong/maintained infrastructure, and a prideful resident base.​ The property contains 63 developed sites with 33 resident owned homes, 16 Community-Owned Homes, and 14 vacant developed sites.​ The community is serviced by city water and city sewer.​

Benefits that a new operator can realize include the following: Increase site rent to market; rent hasn’t been raised since March 2017.​ Sub-meter and bill back residents for water, sewer, and garbage.​ Lease or sell 2 vacant community owned homes.​ Bring in homes to fill 14 vacant sites.​ The community also offers an opportunity to develop additional sites on the vacant land in the southwest corner of the parcel.​

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Park Information

Community Type: All Age
Number of MH Lots: 63
Total Occupancy: 78.0 %
Year Built: 1976
Average MH Lot Rent: $223
Size: 10 acre(s)

Financial Information (Actual)

Gross Income $150,176
Operating Expense $71,919
Net Operating Income $78,257
Expense Ratio 47.9 %
Debt Info

Utility Information

Water: City
Water Paid By: Park
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 16
Average Rent for Park-owned Homes: $521

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