Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire Mobile Grove, a value-add manufactured housing community in Conneaut, Ohio. The property features 137 homesites and 72 rentable storage units, creating multiple income streams. Current occupancy is approximately 68 percent, offering significant upside through the fill of vacant sites. With 32 percent vacancy, a new owner can implement a proactive home sales and leasing program to boost occupancy and increase net operating income. Mobile Grove is serviced by public water and sewer, both sub-metered and billed back to residents, allowing for lower operating expenses and more predictable cash flow. The community contains only 16 park-owned homes, supporting a primarily resident-owned model that minimizes management responsibilities and maintenance costs, while strong market demand for homeownership presents further sales potential. Ideally located about halfway between Erie, Pennsylvania, and Cleveland’s eastern suburbs, Mobile Grove offers excellent regional access for commuters and local workers. Just five minutes from the scenic shores of Lake Erie, the community also benefits from a desirable lifestyle amenity that enhances resident appeal and long-term retention.