Sandusky Mobile Home Park
Property Overview
Marketing description
This 20 lot park currently has 11 mobile homes and 1 single family home on the property. Lot rent is $200/month.
There is one park-owned home on the property that rents for $420/month. The POH is a 1983 Marshfield home.
The single family home includes a 2-car detached garage and is currently being rented for $510/month in August. The roof was replaced in 2016 and the current owners have windows for the top floor of the home that will be included in the sale.
The park is serviced by rural water supply that is billed back to the tenants each month and a septic pond. Garbage is serviced by a dumpster that is paid for by the park owners. All other utilities are direct billed to tenants.
Current ownership has updated electrical, placing most wiring underground within the last 5 years. Each lot is equipped with 100-200 amp service.
The current owners are responsible for mowing the vacant lots, road maintenance (gravel road), tree trimming, and snow plowing. Tenants are required to maintain their own lots and lawns, a $30 fee is assessed for any tenant who does not mowing their lawn.
Investment highlights
New ownership could see nearly a 10% expense reduction through garbage service bill back.
Current ownership has not pursued infill opportunities, which offers new ownership the ability to bring additional homes into the community and raise occupancy.
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