500 Ervin RdVan Wert, OH 45891

Property Details for 500 Ervin Rd

Year built

1959

Construction

CONCRETE BLOCKS

Property type

Retail properties

Property subtype

Drive through restaurants

APN

12-027496.0000

APU

120274960000

Description

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.

Location Insight

City

Van Wert

County

Van Wert

State

Ohio

Latitude

40.8585

Longitude

-84.5903

CBSA code

46780

CBSA name

VAN WERT, OH MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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