For property details visit: https://rimarketplace.com/auction/3174/multifamily/tallmadge/oh

Friedman Real Estate, in partnership with RI Marketplace, is pleased to present the exclusive marketing and sale of Gaslight Village, a 104-site mobile home park community with 5 additional apartment units located in Tallmadge, Ohio, within the Akron MSA.

The property is currently operating at approximately 28% occupancy, presenting a significant value-add opportunity through lease-up, infill of vacant pads, and repositioning of non-performing units. With over 70% vacancy, investors have the ability to execute a comprehensive turnaround strategy and drive meaningful value creation.

The community includes 27 vacant pads with no existing structures, allowing for immediate infill without demolition costs. Additional vacancy consists of homes in varying condition, providing flexibility for renovation, replacement, or removal based on the buyer’s operational strategy.

Lot rents are currently below market, offering additional upside as occupancy improves. Utilities are already submetered and billed to tenants; however, current recovery is limited due to low occupancy and collections, creating further opportunity to increase NOI through improved operational efficiency.

Upon stabilization, the property presents the opportunity to achieve significantly higher occupancy and income levels through a combination of lease-up, rent growth, and expense optimization.