Ohio & Indiana 3-Park Portfolio
361 West Main St, New Lebanon, OH 45345
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Investment summary
Total Lots136
Vacant Lots43
Tenant Owned Homes88
Occupied Park Owned Homes4
Rent-To-Own Homes1
Average Lot Rent$412
Executive summary
The Ohio & Indiana 3-Park Portfolio consists of 136 total lots across 3 communities. The portfolio is made up of Walnut Hills MHC (50 lots) in Bluffton, IN; New Lebanon MHC (46 lots) in New Lebanon, OH; and Somerset MHC (40 lots) in Somerset, OH. The portfolio is majority tenant owned (95% of occupied lots), with a current average lot rent of $412 and an occupancy of 68%. With 43 vacant lots across the portfolio, there is significant value add and infill opportunity for new ownership. All communities are serviced by public water & sewer (billed back) and curbside trash.
Walnut Hills MHC is 25 miles from the Fort Wayne MSA, New Lebanon MHC is 12.5 miles from the Dayton MSA, and Somerset MHC is 47 miles from the Columbus MSA. With the communities so close to major metro area, residents are provided convenient access to various entertainment options, higher education institutions, and job opportunities with major employers.
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Investment highlights
Convenient location
Walnut Hills MHC is ~25 miles from the Fort Wayne MSA, New Lebanon MHC is ~12.5 miles from the Dayton MSA, and Somerset MHC is ~47 miles from the Columbus MSA. The communities, with such close proximity to significant metropolitan areas, offers residents easy access to various entertainment options, higher education institutions, and job opportunities with major employers.
Infill potential
With current occupancy at 68% and 43 vacant lots, A buyer has the ability to increase value substantially with a strong infill plan.
Majority tenant owned
The portfolio contains 88 tenant owned homes, which make up 95% of the occupied lots.
Utilities
All communities are serviced by public water & sewer (billed back) and curbside trash.
Utility billing structure
- Water: Public (Billed Back)
- Sewer: Public (Billed Back)
- Trash: Curbside (Billed Back for New Lebanon MHC & Somerset MHC | Direct Bill for Walnut Hills MHC)
- Electric: Public (Billed Back for New Lebanon MHC | Direct Bill for Walnut Hills MHC & Somerset MHC)
- Gas: Public (Direct Bill)
Exclusively listed by
Parker Kelly
VP, Manufactured Housing, Investment Sales
Tanner Westerheid
VP, Manufactured Housing, Investment Sales
Matt Skinner
VP, Manufactured Housing, Investment Sales
Nick Ferando
VP, Manufactured Housing, Investment Sales