Contact Information

Mobile Home Park Details

  • Price: $1,350,000
  • Property ID: 988482
  • Posted on Sep 11, 2018

Property Description

Capstone Manufactured Housing is pleased to present the New Lebanon Mobile Home Park, a 55-site community located less than 20 minutes from downtown Dayton, OH. This property is ideally situated with direct frontage along US-35, a major east-west thoroughfare which sees more than 19,000 vehicles per day. There exist both in-place and value-add operational efficiencies at the property, including utility reimbursement with a high recapture rate, room to raise rents, and the ability to lease several vacant park-owned homes, thus rapidly reducing vacancy. Furthermore, current ownership has done an admirable job of maintaining excellent curb appeal and addressing deferred maintenance as needed. With the opportunity to continue driving rents and swiftly reduce vacancy, New Lebanon presents an excellent opportunity to acquire a well-located mobile home community within an expanding MSA.
Investment Highlights
Opportunity to Increase Rents
Multiple In-Place Operational Efficiencies
Over $50,000 in Curb Appeal Improvements
Water Street and Oregon District Revival

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Park Information

Community Type: All Age
Number of MH Lots: 55
Total Occupancy: 82.0 %
Year Built: 1961
Average MH Lot Rent: $310
Size: 8.6 acre(s)

Utility Information

Water: City
Water Paid By: Tenant - Submetered
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 5

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