6605 Marion Agosta Rd - Manufactured Housing/Mobile Housing FOR SALE


Marion, OH 43302
$3,000,000 USD
423-483-0492
6605 Marion Agosta Rd, Marion, OH for Sale
$3,000,000 USD
Manufactured Housing/Mobile Housing - FOR SALE
1/9
null | 5.38% Cap Rate

6605 Marion Agosta Rd
Marion, OH 43302


OVERVIEW

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.

FOR SALE DETAILS

PRICE

$3,000,000 USD

PRICE/SF

$1,200 USD /SF

# OF UNITS

112

PRICE/UNIT

$26,786

CAP RATE

5.38%

% LEASED

45%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Oakridge MHC

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Manufactured Housing/Mobile Housing

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1980

PARKING SPACES

123

LAND DETAILS

LAND ACRES

50.75 AC

LAND SF

2,210,670 SF

ZONING

Commercial

APN/PARCEL ID

23-0330001.700

ASK ABOUT THIS PROPERTY

Glenn EstersonMarcus & MillichapMore Info
423-483-0492

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Glenn EstersonMarcus & MillichapMore Info
423-483-0492

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.