Martins Mobile Home Park

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: $1,900,000Lot Size: 9.80 AC
No. Units135Building Size: 100,000 SF
Property Type: MultifamilySales ConditionsBusiness Value Included Deferred Maintenance
Apartment Style: GardenYear Built: 1942
Property Subtype: Manufactured Housing/ Mobile HomeNo. Stories: 1
Building Class: CZoning Description: C
Sale Type: InvestmentAPN/Parcel ID29-012-0-069.00-0
Cap Rate8.00%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.

Sale Notes

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
Taxes –                                                                         –
Operating Expenses –                                                                         –
Total Expenses $195,000 1.95
Net Operating Income $150,000 1.50

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