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Mobile Home Park Details

  • Price: Call for Price
  • Property ID: 1686751
  • Posted On: Jun 7, 2022
  • Updated On: Jul 24, 2022

Property Description

https://estersonmhcteam.com/property/long-lake-park-campground

The Esterson MHC Team is pleased to present Long Lake Park Campground, an institutional-quality RV Campground located in Lakeville, OH. Established in 1919, Long Lake Park is Ohio’s oldest campground and strategically positioned between two of the state’s largest MSA’s [Cleveland and Columbus]. The park was built on 62 acres of rolling, wooded hills in the Mohican-Loudonville region and sits next to a 60 acre spring fed lake, making it the perfect destination for families looking to escape the big city – some guests have even been camping at Long Lake Park for close to 40 years!

The sellers first purchased Long Lake Park in 2005 and are only the fifth owners of the property since 1919. With a vision, and extensive renovation, they have successfully expanded the campground from 215 sites to 286, modernized the sewage system, shower house, laundry, playground, and added a beautiful, heated pool. Additional amenities include a fishing pier, pavilion, event center, basketball court, and even gated access.

Long Lake Park is a seasonal campground that’s 100% occupied April through October, with an extensive waiting list. The park consists of 288 rentable units – 283 RV sites, 3 deluxe cabins, 2 single family homes – and is serviced by private utilities, which are paid for by the park. Despite being a fully stabilized, cash flowing asset, there’s still plenty of upside left on the table for an incoming investor. Based on a survey we conducted of local parks, seasonal RV rates at Long Lake Park Campground are well below market. Full hook-up sites at the Long Lake rent for $2,872 per season on average, while comparable parks in the area average $3,781, with rates ranging from $2,400 to $4,500 per season. Not only is there room to push rents, but there’s also opportunity to expand the campground by an additional 50-70 lots, pending city approval.

There won’t be ANY pricing guidance given, but all serious offers will be considered.

Amenities

  • Pool
  • Club House
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Park Information

Community Type: All Age
Number of MH Lots: 288
Total Occupancy: 100.0 %
Average MH Lot Rent: $2,872
Size: 80 acre(s)

Financial Information (Actual)

Gross Income $936,000
Net Operating Income $621,190
Debt Info

RV Information

Number of RV Lots: 283

Utility Information

Water: Well
Water Paid By: Park
Sewer: Septic

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