For Sale
$1,450,000

100 ConfidentialDunham, OH 45714

43-unit MHP, high occupancy, strong NOI

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional 43-unit mobile home park presents a compelling investment opportunity in Dunham, Ohio, near Parkersburg, WV. Currently boasting 93.02% occupancy, the park generates a substantial net operating income (NOI) of $89,081, with a 6.14% cap rate. A pro-forma NOI of $129,424 and an 8.93% pro-forma cap rate highlight significant upside potential. The property comprises 43 pads, priced at $33,720.93 per pad, for a total asking price of $1,450,000. The park's 33 lot renters pay an average monthly rent of $273, while three park-owned homes generate an average of $733 monthly rent ($280 lot rent + $453 home rent). Four rent-to-own tenants contribute an average of $688 monthly ($283 lot rent + $405 home payment). Three vacant lots offer immediate expansion potential. The existing homes are predominantly newer models, and all utilities are billed directly to tenants. The property sits on approximately 45.64 acres, offering further development possibilities. The significant upside potential stems from raising rents to market rates (all tenants are on month-to-month leases) and selling the three park-owned homes. This well-managed, stabilized community is ideal for both experienced investors and those seeking entry into the mobile home park market. The property's strong home demand is evidenced by the ease with which the seller has sold rent-to-own homes, often with substantial down payments. The APN is 100043796000.

Highlights

  • High upside potential: Month-to-month tenants allow for immediate rent increases to market rates.
  • Over $100,000 in inventory of three newer (2004) single-family homes.
  • 45.64 acres offering significant development potential for additional lots or other real estate uses.
  • Three vacant, infrastructure-ready lots ideal for infill development.
  • Three occupied homes offering potential for sale to existing tenants.
  • Strong homebuyer demand; recent comparable sales demonstrate ease of sale with substantial down payments.

Property Details for 100 Confidential

Property type
Mobile home & RV parks
Units
43

Location Insight

City
Dunham
County
State
Ohio
Latitude
39.3297421
Longitude
-81.6254283
100 Confidential, Dunham, Ohio

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100 Confidential
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