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Mobile Home Park Details

  • Price: $1,050,000
  • Property ID: 1388930
  • Posted On: Feb 4, 2021
  • Updated On: Mar 3, 2021

Property Description

The Colliers Midwest Manufactured Housing Group is pleased to present Bryan MHC, a 42 site + 1 Stick Built Manufactured Home Community located in Bryan, Ohio.​ The community is settled on approximately 5.68 +/- acres in an Opportunity Zone.​
Located in the far Northwest corner of Ohio, Bryan is home to several large employers such as Menards (Distribution Center), Spangler Candy Company, Kamco Industries and Mansion Manufactured Home Builders.​ The property is well located and provides residents easy access to major metro’s such as Toledo (61 miles to the east), Fort Wayne (51 miles to the southwest) and Defiance (30 miles to the southeast).​ Additionally, the population within a 20 mile radius is nearly 100,000 and the Median Home Price in Bryan is $110,000.​

Built in 1920, Bryan MHC is comprised of 42 sites and one stick built rental.​ Twenty six are resident owned homes paying an average of $263 which includes a $25 trash fee and new residents pay $275 total rent ($250 site rent + $25 trash fee).​ Twelve homes are community owned rentals that pay an average of $498 (includes site and trash) one of which is a 2019 14’ X 70 Clayton on the CASH Program.​ Additionally, the 1952 two bedroom, 1.5 bath 1,272 sq ft stick built home rents for

$625.​ The community is on city water and sewer, which is paid by the community owner and electric and gas are provided by the city of Bryan which are billed directly to the residents.​

Since the owner acquired the community, they have brought in 7 homes (two 2019 Claytons) to increase occupancy and income, renovated a few existing homes and demolished a handful of dilapidated homes to increase the appeal of the community.​ The off-site manager’s tasks include enforcing the community rules and was a significant contributor to renovating and leasing up pre-existing homes.​

Location

​-City Water & Sewer, paid by the community owner
-​Super Walmart is 7 minutes to the south
​-Opportunity to bill back water and sewer to residents
​-Experienced off-site manager/maintenance employee has been in the position for 3+ years and comes highly recommended
-​Majority of residents direct deposit rent into owners bank account
-​Bring in 4 homes to achieve 100% occupancy

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