East Ohio Mobile Home Park Value Add Project for Sale

[Greg Giacoma]

About me: https://www.linkedin.com/in/greg-giacoma-581745196/

Eastern Ohio MHP Value-Add Project for Sale
Financing Available for Acquisition and Capex for *Qualified buyer

Asking price: $515K

*Email me for more information: [email protected]

This is a value-add, turnaround project for someone that’s got a crew or a plan and is willing to fix up the POHs, rent them or sell them off, and exit via refinance or sale of the park. We have financing for a qualified buyer that would also include a line of credit for rehab of the mobile homes. For the right person this can be a nice plug and play project.

Lot breakdown/Rent:
+34 MH total lots
+2 additional mobile homes/lots used for Storage
+14 occupied: 3 POH / 11 TOH
+15 vacant POH
+5 Vacant Lots
+Lot Rent: $225-$300 ($300 for newer tenants)
+POH Rent: $438-$445
+As-Is Gross Income: $5,603

Infrastructure info:
+Age of POHs: mixed bag (60’s-2000)
+City water
+City Sewer
+Paved Roads
+Water, sewer and electric is billed back to the tenants

Misc:
+No Flood Zone
+MSA Population: 140,000
+Median Home Cost: ~$125,000
+6.722 Acres

Again, please email me if interested at [email protected]