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Twin Wells/Clearview Manufactured Home Community

Multi Family Housing for Sale in Lorain, Ohio

3946 Reid Avenue
Lorain, OH 44052

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This Mobile Home Park is Off Market

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Mobile Home Park for Sale

Number of MH Lots: 117
Size: 12 acre(s)
Cap Rate: 9.2%
Purchase Method: New Loan
Status: Off Market
Property ID: 18065
Posted on: Nov 10, 2010
Updated on: May 12, 2011

Property Description

The Community has great existing stable cash flow with long term, stable tenants and great operating History. 98% of the existing homes on the property are occupied, the 2 vacant homes were recently installed. Huge upside exists in filling the vacant lots. All utilities are sub-metered including water and sewer, gas and electric. For more information and a complete Offering Memorandum please contact Cooper Commercial Investment Group at 216-916-7313 ext. 13.

Location Description

The immediate vicinity offers an abundance of prime retail with close proximity to Midway Mall, which includes major stores such as: Sears, Best Buy, Macy's, and JCPenney. Being surrounded by many national companies and retailers, the residents of the mobile home communities have places to shop and work. Students of the manufactured home communities attend Clearview Local School District, which is a highly desirable school district in the area.

Park Information

Number of MH Lots:117
Total Occupancy:80.0%
Average MH Lot Rent: $230
Size:12.0 acre(s)

Utility Information

Water Paid By: Tenant - Submetered