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Mobile Home Park

4 MHC Portfolio - Northeast Ohio

100 11th St, Niles, OH 44446

Listing Price: Request For Offer

Number of Spaces
563
Lot Size
58.74 acres
Occupancy
63.0%
Spaces/Acre
9.58
Year Built
1980

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire four All Age Manufactured Housing Communities located within an hour and fifteen minutes of one another in Northeast Ohio. The portfolio contains a total of 563 sites that have a global occupancy of 53 percent with below market rents. Three of the communities are serviced by public water and sewer that are sub-metered and one community, Thunderbird, has private water (well) and private sewer (WWTP). Suburban Village, a 220 site community located in Niles, Ohio is currently 45 percent occupied. The community is located in the Youngstown MSA and has a population greater than 420,500 within a 15 mile radius. Brentwood Mobile Homes is a 183 site community that is 52 percent occupied located in Warren, Ohio five miles west of Suburban Village. The community can expand up to approximately 250 total sites. Thunderbird Terrace is located in East Canton, Ohio and contains 50 mobile homes and one single family home that are currently 91 percent occupied. The community is situated within the Canton MSA and has a population greater than 375,000 within a 15 mile radius. Lastly, Gaslight Village, a 109 site (105 mobile homes and four apartments) community located in Tallmadge, Ohio is currently 50 percent occupied. Gaslight Village is situated in the Akron MSA, 30 miles north of Thunderbird Terrace, with a population of approximately 690,000. New ownership can implement an aggressive sales program to increase occupancy.

Investment Highlights

  • Opportunity to Acquire Four Manufactured Housing Communities Located Within an Hour and Fifteen Minutes of One Another in Northeast Ohio
  • A Total of 563 Sites with a Global Occupancy of 53 Percent with Below Market Rents
  • All of the Communities have a Population Greater than 375,000 Within a 15 Mile Radius

Exclusively Listed By

Mobile Home Park

4 MHC Portfolio - Northeast Ohio

Listing Price: Request For Offer

Number of Spaces
563
Lot Size
58.74 acres
Occupancy
63.0%
Spaces/Acre
9.58
Year Built
1980

Investment Highlights

  • Opportunity to Acquire Four Manufactured Housing Communities Located Within an Hour and Fifteen Minutes of One Another in Northeast Ohio
  • A Total of 563 Sites with a Global Occupancy of 53 Percent with Below Market Rents
  • All of the Communities have a Population Greater than 375,000 Within a 15 Mile Radius

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire four All Age Manufactured Housing Communities located within an hour and fifteen minutes of one another in Northeast Ohio. The portfolio contains a total of 563 sites that have a global occupancy of 53 percent with below market rents. Three of the communities are serviced by public water and sewer that are sub-metered and one community, Thunderbird, has private water (well) and private sewer (WWTP). Suburban Village, a 220 site community located in Niles, Ohio is currently 45 percent occupied. The community is located in the Youngstown MSA and has a population greater than 420,500 within a 15 mile radius. Brentwood Mobile Homes is a 183 site community that is 52 percent occupied located in Warren, Ohio five miles west of Suburban Village. The community can expand up to approximately 250 total sites. Thunderbird Terrace is located in East Canton, Ohio and contains 50 mobile homes and one single family home that are currently 91 percent occupied. The community is situated within the Canton MSA and has a population greater than 375,000 within a 15 mile radius. Lastly, Gaslight Village, a 109 site (105 mobile homes and four apartments) community located in Tallmadge, Ohio is currently 50 percent occupied. Gaslight Village is situated in the Akron MSA, 30 miles north of Thunderbird Terrace, with a population of approximately 690,000. New ownership can implement an aggressive sales program to increase occupancy.

Exclusively Listed By

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