Contact Information

Equity Trust
Equity Trust Company

Mobile Home Park Details

  • Price: $595,000
  • Distressed: This property is in default, REO or in foreclosure.
  • Purchase Method: Cash, Seller Financing
  • Property ID: 1669359
  • Posted On: May 13, 2022
  • Updated On: May 23, 2022

Property Description

CURRENTLY TAKING BEST REASONABLE OFFER!!!!! FOR SALE BY OWNER 88 LOT MOBILE HOME PARK
Excellent potential income producer. This mobile village consist of 8.223 acres, has 88 total leasable lots, 23 total income producing lots & service garages. 46 vacant lots, 20 vacant trailers. All lots are individually metered. We also have two other parks for sale as well. 1015 North Main Street, Marion, OH 43302 with 50 lots 40 are empty but it has a house that is rented we have it listed at $499,900 . and one in Hammond Indiana for $199,900 with 6 lots please ask when you call if you are interested. To make an offer and to obtain more information please call 312-625-0586,

OVERVIEW

For sale is a Marion, Ohio, 1.25 acre Mobile Home Park at the corner of N Main St and Copeland Ave, at 1015 N Main St. This is an unbelievable value add opportunity, or simply run it as is for the cash flow that's already being generated. There were previously 50 mobile home sites at this location! The value is in the land and already permitted use, and CITY UTILITIES. This can a gold mine for the business savvy, real estate investor, who could potentially grow to 50 sites at $400+ per month, generating $240,000+ per year, just in lot fees! Marion is the ideal town for such a park, as all neighboring parks are full with waiting lists, and the demand for affordable housing is extremely high.

On the Site there are currently 7 mobile home units and 1 single family house. Of those, 4 mobile homes are rented at $375/mo and the single family home is rented at $849/mo. Of the trailers, 5 are privately owned (lot rent) and 2 are park owned. There are 2 additional mobile home units awaiting rehab.

There is an additional dwelling on the site that could be easily configured as a laundry facility or rented as a storage facility or otherwise.

CURRENT EXPENSES

Taxes

Annual Gross Taxes are ONLY approximately $1,135 PER YEAR TOTAL.

Utilities

Recent utility bills for sewer/water, and trash pick up, ~$330/mo and ~109/mo respectively. As you scale, it will be simple to haul your own trash to reduce costs, or pass on the utility costs to the residents.

*The park utilizes city utilities, which is very rare

Location

Toledo ohio

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