1015 N Main St - Manufactured Housing/Mobile Housing FOR SALE


Marion, OH 43302
$399,000 USD
217-202-0924
1015 N Main St, Marion, OH for Sale
$399,000 USD
Manufactured Housing/Mobile Housing - FOR SALE
1/22
null | Request Cap Rate

1015 N Main St
Marion, OH 43302


HIGHLIGHTS

  • City water/sewer!
  • Decent sized metro!
  • Heavy traffic count past park!

OVERVIEW

Buckeye Trailer Park in Marion, Ohio is a 1.75-acre, zoned mobile home park built in 1950 and, per county records, renovated in 2007. The property is not in a lood zone. The current owner—who has held the asset for almost four years—operates without an on site manager, though a maintenance person is in place and is believed to be a good managerial candidate. The community contains 32 pads the owner estimates at approximately 60' x 20'. There are currently three occupied pads plus a nice single-family residence on site. Some vacant trailers are present, but no trailers need to be removed, none are believed to be held for back taxes, and there are no tenant-owned homes. Five park-owned single wide homes are included (no double-wides), with titles in hand; average rent for the park-owned homes is $650 per month, and the last rent increase was in 2023. the average area pad rent is believed to be about $400 per month. All vacant pads are able to accept trailers. The park is served by city water and city sewer; the park pays for water for the entire community and does not back-bill tenants. Tenants are billed directly by the utility providers for electricity and gas. Electrical pedestals are 100-amp, and the underground pipes are believed to be clay. The park pays for garbage service. Internal roads are gravel and described by ownership as in “OK” condition; the park is responsible for road maintenance. Tenants mow their own spaces while the park maintains common areas, and snow is moved as necessary. The park offers off-street parking. Operationally, all tenants are current on rent. The park uses month-to-month leases, and tenants pay via Cash App and Zelle. Owner financing is available. In addition to the homesites, there is a single-family residence on the property that the owner states is worth $150,000 on its own. This offering is for the park in its current as-is condition. Available financials and other due-diligence materials are limited, so buyers should plan to rely on their own inspections and analysis. Given the documentation constraints and current occupancy, we are prioritizing clean, non-contingent all-cash proposals with proof of funds. The seller may also consider full price offers with seller financing on a case-by-case basis at 50% down, 6% interest, and a 5-year balloon, subject to buyer qualifications and final approval. Jonathan Fisher is a licensed broker in the State of Ohio under MR. LANDMAN, LLC. LIC#BRKP.2025001469. Location: Marion is a city in Marion County, Ohio, and its county seat. It is located in north-central Ohio, approximately 50 miles north of Columbus. The population was 35,999 at the 2020 census, down slightly from 36,837 at the 2010 census. It is the largest city in Marion County and the principal city of the Marion micropolitan area. It is also part of the larger Columbus–Marion–Zanesville, OH Combined Statistical Area. The median home cost in Marion is $102,900. Home appreciation the last 10 years has been 89.4%. Home Appreciation in Marion is up 16.5%. Renters make up 35.2% of the Marion population. The average 1-bedroom unit rents for $730/month. The average 2-bedroom unit rents for $960/month. The average 3-bedroom unit rents for $1,170/month. The average 4-bedroom unit rents for $1,290/month Marion has an unemployment rate of 5.0%. The US average is 6.0%. Future job growth over the next ten years is predicted to be 26.2%, which is lower than the US average of 33.5%. The Median household income of a Marion resident is $41,884 a year. The US average is $69,021 a year. Marion violent crime is 15.8. (The US average is 22.7) Marion property crime is 50.4. (The US average is 35.4)

FOR SALE DETAILS

PRICE

$399,000 USD

PRICE/SF

$40 USD /SF

# OF UNITS

33

PRICE/UNIT

$12,091

CAP RATE

Request Cap Rate

% LEASED

12%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Mobile Home Park

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Manufactured Housing/Mobile Housing

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1950

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.75 AC

LAND SF

76,056 SF

ZONING

MHP

APN/PARCEL ID

12-2090000.100

ASK ABOUT THIS PROPERTY

Jon FisherMr. LandmanMore Info
217-202-0924

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Jon FisherMr. LandmanMore Info
217-202-0924

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