• Crestview Estates - 7348 Tricounty Hwy, Sardinia, OH 45171

For Sale

Office

For Sale

This property is available for sale
33.45
Acres
$850,000
Sale Price
  • Overview

    Crestview
    Estates is a well maintained and established mobile home park (MHP) in the
    southwest Ohio community of Sardinia. 33.45 acres total. The property has a
    strong operating history, boasts low overhead & strong cash flow, and is
    ideally positioned for future expansion and growth. Approved for 88 lots, the
    property consists of 27 improved lots (27 homes | 13 park-owned & 14
    tenant-owned). Amenities include wide asphalt streets, rolled concrete curbing,
    concrete parking pads (2 spaces per lot), level topography, adequate on-site
    detention, and a heavily wooded perimeter provides a park-like setting.

    Investment
    Upside Potential
    -
    Expansion to 88 lots from current 27 improved lot count
    -
    Push rents for both Park-owned and Tenant-owned home sites
    -
    Continued revenue growth via financing and lease-to-own programs with
    tenants as part of park expansion
    -
    Improved collections through active management
    -
    Expansion space for camp ground site & additional income stream for
    camper site rentals

    Operational
    Highlights
    -
    High demand and favorable age & income demographic profile for MHP
    -
    Resident manager lives on site | No manager salary (free rent)
    -
    Ample space for addition of camper site and/or recreation/green space
    -
    Highly visible and well-maintained site
    -
    Direct expense pass-thru for all utilities, including city-served
    water/sewer, electric, and trash collection

    -
    Included in Asking Price: 13 Park-Owned homes & 13 Seller notes for
    financed homes (to be assigned to Buyer at Closing)

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Property Details

Crestview
Estates is a well maintained and established mobile home park (MHP) in the
southwest Ohio community of Sardinia. 33.45 acres total. The property has a
strong operating history, boasts low overhead & strong cash flow, and is
ideally positioned for future expansion and growth. Approved for 88 lots, the
property consists of 27 improved lots (27 homes | 13 park-owned & 14
tenant-owned). Amenities include wide asphalt streets, rolled concrete curbing,
concrete parking pads (2 spaces per lot), level topography, adequate on-site
detention, and a heavily wooded perimeter provides a park-like setting.

Investment
Upside Potential
-
Expansion to 88 lots from current 27 improved lot count
-
Push rents for both Park-owned and Tenant-owned home sites
-
Continued revenue growth via financing and lease-to-own programs with
tenants as part of park expansion
-
Improved collections through active management
-
Expansion space for camp ground site & additional income stream for
camper site rentals

Operational
Highlights
-
High demand and favorable age & income demographic profile for MHP
-
Resident manager lives on site | No manager salary (free rent)
-
Ample space for addition of camper site and/or recreation/green space
-
Highly visible and well-maintained site
-
Direct expense pass-thru for all utilities, including city-served
water/sewer, electric, and trash collection

-
Included in Asking Price: 13 Park-Owned homes & 13 Seller notes for
financed homes (to be assigned to Buyer at Closing)

  • Property Type
    Office
  • Sale Price
    $850,000
  • Total Acres
    33.45
  • Property ID
    1926695

Landlord's Sales Representative

  • Mike Bastin
    Coldwell Banker Commercial Reliant Realty