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


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Community Video:

Offering Memorandum Link:

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.

• Stable community with great cash flow
• All units are fully occupied
• Quiet country setting
• Strong demand for housing in the area

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

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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 %
Debt Info

Lot Information

Singlewide Lots: 10

Utility Information

Water: City
Water Paid By: Park
Sewer: Treatment Plant

Park-Owned Homes

Number of Park-owned Homes: 9


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