4 MHC PORTFOLIO
Opportunity to Acquire 4 Manufactured Housing Communities Located Within an Hour and Fifteen Minutes of One Another in Northeast Ohio
A Total of 563 Sites With A Global Occupancy of 53 Percent With Below Market Rents
All of the Communities Have a Population Greater Than 375,000 Within a 15 Mile Radius
Marcus & Millichap is pleased to present the opportunity to acquire 4 All Age Manufactured Housing Communities located within an hour and fifteen minutes of one another in Northeast Ohio. The portfolio contains a total of 563 sites that have a global occupancy of 53 percent with below market rents. Three of the communities are serviced by public water and sewer that are sub-metered and one community, Thunderbird, has private water (well) and private sewer (WWTP).
Suburban Village, a 220 site community located in Niles, Ohio is currently 45 percent occupied. The community is located in the Youngstown MSA and has a population greater than 420,500 within a 15 mile radius.
Brentwood Mobile Homes is a 183 site community that is 52 percent occupied located in Warren, Ohio 5 miles west of Suburban Village. The community can expand upto ~250 total sites.
Thunderbird Terrace is located in East Canton, Ohio and contains 50 MH & 1 Single Family Home that are currently 91 percent occupied. The community is situated within the Canton MSA and has a population greater than 375,000 within a 15 mile radius.
Lastly, Gaslight Village, a 109 site (105 MH & 4 Apartments) community located in Tallmadge, Ohio is currently 50 percent occupied. Gaslight Village is situated in the Akron MSA, 30 miles north of Thunderbird Terrace, with a population of approximately 690,000.
New ownership can implement an aggressive sales program to increase occupancy.