Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 8.3%
- Listing ID: 1686959
- Posted On: Jun 8, 2022
- Updated On: Jun 21, 2023
Description
For more information go to www.wiselycr.com
Community Video: https://youtu.be/nQYqJ2ZCTBY
Offering Memorandum Link: https://www.crexi.com/properties/838233/ohio-chestnut-lane?offeringMemorandum=download
PROPERTY OVERVIEW
Wisely Commercial Realty is pleased to offer for sale Chestnut Lane located in New Richmond, Ohio. Chestnut Lane consists of 10 approved home spaces, situated on 10 acres of land. The property comes with 9 manufactured homes that were built in 2004, each are 3 bedrooms and 2 bathrooms, and each home has a central air unit. All the homes are currently occupied. The property is in Clermont County that has a population of 200,000.
INVESTMENT HIGHLIGHTS
• Stable community with great cash flow
• All units are fully occupied
• Quiet country setting
• Strong demand for housing in the area
OFFERING SUMMARY
Community & Rental Homes: $580,000
Contract Homes: $60,000
Total List Price: $640,000
NOI: $48,370
Cap Rate: 8.3%
Number of Spaces: 10
Economic Occupancy: 100%
Physical Occupancy: 100%
Lot Rent: $415
Park Owned Homes: 9
Land Size: 10 Acres
Park Information
| Number of MH Lots: | 10 |
| Total Occupancy: | 100.0 % |
| Year Built: | 2004 |
| Size: | 10 acre(s) |
Financial Information (Actual)
| Gross Income: | $69,432 |
| Operating Expense: | $21,062 |
| Net Operating Income: | $48,371 |
| Expense Ratio: | 30.3 % |
Lot Information
| Singlewide Lots: | 10 |
Utility Information
| Water: | City |
| Water Paid By: | Park |
| Sewer: | Treatment Plant |
