For Sale
$2,150,000

500 Ervin RdVan Wert, OH 45891

Profitable 55-lot community, 100% occupied.

Overview

Added:
Dec 11, 2024
Days on market:
115
Olympia Park, located at 500 W Ervin Rd, Van Wert, Ohio 45891, presents a compelling investment opportunity. This 55-lot mobile home park, situated on approximately 6 acres in the city center of Van Wert, is a fully occupied and stabilized all-age community. The park's current lot breakdown includes 32 tenant-owned homes, 15 rent-to-own homes (with approximately 4 years remaining on each contract), and 7 park-owned homes, plus one vacant lot. Generating an average gross monthly income of approximately $22,000, the park benefits from professional local management. All utilities are billed directly to tenants except for water, which the park pays for at an approximate cost of $2,400 per month. The park boasts exceptional tenant retention, with an average annual turnover of only two tenants. A recent rent roll is available upon request. This turnkey operation is offered at an asking price of $2,150,000. The property's strong occupancy rate, consistent income stream, and low tenant turnover make it an attractive investment for experienced mobile home park operators.

Highlights

  • Fully occupied, 55-lot mobile home park in Van Wert, Ohio.
  • Located on ~6 acres in the city center.
  • All-age community with 32 tenant-owned, 15 rent-to-own (4 years remaining on contracts), and 7 park-owned homes, plus one vacant lot.
  • Generates ~$22,000 average gross monthly income.
  • Professionally managed with low tenant turnover (avg. 2 annually).
  • Water is the only utility paid by the park (~$2,400/month).

Property Details for 500 Ervin Rd

Property type
Mobile home & RV parks

Location Insight

City
Van Wert
County
Van Wert
State
Ohio
Latitude
40.8585383
Longitude
-84.5903163
500 Ervin Rd, Van Wert, Ohio

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500 Ervin Rd
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