Sidekick REI and HomeSource Inc are partnering, working together on purchasing this 135 unit Mobile Home Park. J.J. Harrison, our realtor in Kentucky, is responsible for bringing this deal to us. We are working with David Chittle who is the master of Pace funding. Thank you David and J.J. .
|Price:||$1,900,000||Lot Size:||9.80 AC|
|No. Units||135||Building Size:||100,000 SF|
|Property Type:||Multifamily||Sales Conditions||Business Value Included Deferred Maintenance|
|Apartment Style:||Garden||Year Built:||1942|
|Property Subtype:||Manufactured Housing/ Mobile Home||No. Stories:||1|
|Building Class:||C||Zoning Description:||C|
|Sale Type:||Investment||APN/Parcel ID||29-012-0-069.00-0|
|Cap Rate||8.00%||Walk Score@||65 (somewhat walkable)|
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Date Created: 03/13/2018 Last Updated: 05/01/2018 Is this listing inaccurate?
Fantastic location with access to freeway and commercial areas.
Metered water and sewer through Mahoning County.
Major upside potential for hands-on owner. Easily marketable location on busy South Ave.
Great opportunity in fast-growing Boardman Ohio! The park sits on 9.8 acres of land with over 700 feet of frontage on busy South Ave with access to the freeway, banking, shopping, etc. all within minutes. Currently licensed for 135 sites with 119 developed for occupancy and 5 permanent structures on-site as well. The park uses Mahoning County sewer and water with all sites having their own individual meters. Several of the sites offer off-street parking with additional parking areas designated for guests and tenants. Long-standing manager and maintenance team already in place.
Current owners are retiring. Significant upside for a hands-on owner in rehabbing vacant units and converting park-owned homes.
Please reach out for more information and to schedule viewings of the property. Serious inquiries only! Must have provable history in MHC investment.
Financial Summary (Actual – 2017)
|Annual Annual Per SF|
|Gross Rental Income||$345,000 3.45|
|Other Income||– –|
|Vacancy Loss||– –|
|Effective Gross Income||$345,000 3.45|
|Operating Expenses||– –|
|Net Operating Income||$150,000||1.50|
|South Ave||5th St, SE||9,923||2016||0.07 mi|
|E Midlothian Blvd||Euclid Blvd, W||16,610||2016||0.29 mi|
|South Ave||Simon Rd, SE||6,667||2015||0.34 mi|
|Zedaker St||Roxbury Ave, N||2,721||2015||0.34 mi|
|E Midlothian Blvd||Zedaker St, W||16,610||2016||0.34 mi|