Contact Information

Mobile Home Park Details

  • Price: $450,000
  • Property ID: 1352276
  • Posted On: Nov 6, 2020
  • Updated On: Feb 22, 2021

Property Description

Colliers International Midwest Manufactured Housing Group is pleased to offer Warner Lane Estates, a 22-site manufactured home community in Hopewell, Ohio.

Warner Lane Estates is conveniently located 2 miles from Interstate-70 which connects Hopewell to Ohio’s capital city of Columbus, Zanesville, and Newark. The property sits on heavily trafficked US-40 where the community’s main road, Warner Lane, sees between 3,000 – 5,000 traffic count daily. Within a 15-minute drive of Warner Lane Estates, there is a daytime population of 29,520 and a medium home value of $130,292. Residents of Warner Lane Estates enjoy easy access to resources such as Dollar General, which is 1.6 miles away.

The property consists of 22 developed manufactured home sites, 3 stick-built rental homes and a manager’s office. Of the 22 MH sites, 20 are occupied homes that pay $275 site rent, with only one community owned rental. The 3 stick-built rental homes rent between $500 - $600 per month. The manager’s office, which is a custom designed Amish-built 12’ x 20’ shed complete with electrical and internet, trades with the property as well. Residents of the community are billed directly for water/electric/gas. There are two dumpsters and a WWTP that service the community’s garbage and sewer needs. In the past five years, the WWTP has underwent over $40,000 in upgrades and is licensed for 3,000 gallons/day. It is overseen by a class A operator with daily help from a resident in the community. A new operator will enjoy the ease of management and day one cash flow and the opportunity to fill 2 empty sites and rent owners 2 bedroom apartment.
• Physical Occupancy 92% (23 Homes On Sites / 25 Total Units)
• Economic Occupancy 96% (22 Rented Homes / 23 Homes On Sites)
• Median Home Price $133,292 | Median Household Income
• Great Location, Only 45 Minutes to Columbus & 15 Minutes to Zanesville
• City Water Billed Directly to Residents
• $40k in Recent WWTP Upgrades

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Park Information

Community Type: All Age
Number of MH Lots: 22
Total Occupancy: 92.0 %
Year Built: 1963
Average MH Lot Rent: $275
Size: 11 acre(s)

Utility Information

Water: City
Water Paid By: Tenant - Submetered

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