Mobile Home Park Details
- Cap Rate: 6.0% (Actual)
- Listing ID: 1565571
- Posted On: Nov 30, 2021
- Updated On: Mar 15, 2022
Description
Tea’s Manufactured Home Community is a stabilized 51 site resident-owned home community on public utilities
with 46 occupied lots that includes upside in bringing site rent to market and filling 5 empty sites with homes in
a community that supports new home sales. The community is a result of prideful ownership where the current
owner has made recent capital improvements to sites and utility infrastructure. Tea’s MHC is in Clyde, OH
where Whirpool Corporation – a Fortune 500 Home Appliance Manufacturer – employs 3,000+ workers at their
Manufacturing Plant 0.2 miles from the community. Clyde sits within Sandusky County which is one of the most
highly touristed areas in Ohio thanks to the world-famous Cedar Point Amusement Park and Ohio’s Lake Erie
beach towns and islands.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 51 |
| Total Occupancy: | 90.0 % |
| Average MH Lot Rent: | $250 |
| Size: | 7 acre(s) |
Financial Information (Actual)
| Gross Income: | $174,053 |
| Operating Expense: | $59,853 |
| Net Operating Income: | $114,200 |
| Expense Ratio: | 34.4 % |
Utility Information
| Water: | City |
| Water Paid By: | Park |
| Sewer: | City |
