Investment Overview

Marcus & Millichap is pleased to present Oakridge MHC, a value-add investment with 112 MH lots and significant upside through infill. The community is centrally located in Marion, OH which has a population of approximately 65,000. The area boasts a well-trained and productive workforce that supports a diverse employment base, including sectors like manufacturing, logistics, and education. The city of Marion has a population of around 36,000 and is known for its rich history and community-centered culture. Located along major transportation routes, Marion serves as a strategic hub for industries connected to central Ohio, the Midwest, and beyond. The diverse industrial base includes steel production, appliance manufacturing, and agricultural machinery, making Marion a critical component of the region’s economic vitality. Oakridge MHC has 112 active lots: 34 tenant owned homes (TOH), 16 rent to own (RTO), 0 park owned homes (POH) and 62 vacant lots. All of the 62 vacant lots are home ready. The average lot rental rate per month is $410. The average RTO rental rate is $446 per month. Oakridge MHC is serviced by private water and public sewer. Tenants are responsible for all utility payments and they are billed directly to tenants. Trash is serviced by curbside bins and is billed directly to tenants. Electricity is also billed directly to tenants. All utility systems are in working order. The roads are privately paved and in average condition. The park is not affected by a flood zone and it is not in an opportunity zone. Oakridge MHC is currently managed by an onsite manager who oversees day-to-day operations. This community is priced at $3,000,000, including all park-owned homes, and presents a value-add opportunity for investors looking to acquire a cash-flowing asset with further upside potential. Both conventional recourse, non-recourse and bridge lending options are available. Interested parties are encouraged to submit their offers with price, timeline, escrow amount, and a list of due diligence requirements.