Mountainview Mobile Home Village

Name: Mountainview Mobile Home Village
Address: Zanesfield, Ohio

Zanesfield, Ohio · Mobile Home Park

Total Sites

Type

Mobile Home Park

Estimated Value

$938,915 – $2,091,525

About This Property

We are pleased to present Mountainview Mobile Home Village, a 79-lot manufactured housing community located in Zanesfield, Ohio. List Price: $3,500,000 for the community (7.33% Cap Rate – Excludes home rental revenue) + Home Value (~50% of NADA Value) =Total: $3,999,999 Mountainview is a family community operating at 92%+ occupancy. The tenant mix consists of nearly all park-owned homes. Mountainview provides investors with the opportunity to acquire a 79 space MH community with strong occupancy in the Ohio market. The heavy POH allocation allows a purchaser to significantly lower their basis after selling off the 72 park-owned units. Recent homes sold at 2x+ NADA Value. (NADA VALUE ~ $893k) 79 total lots 66 POH (occupied) 6 TOH 6 POH (vacant) 1 office After discovering theft and mismanagement one year ago, current ownership replaced the management company, evicted 15+ non-paying tenants, and improved economic occupancy by nearly 40%. This community is serviced by well water and a recently upgraded wastewater treatment plant (~$180K spent 2017). All water and sewer maintenance is subbed out to third parties. Mountainview is in good standing with governing agencies and has no issues to report. Zanesfield, Ohio is just minutes from Bellefontaine and within easy reach of the Dayton and Columbus metropolitan areas. Surrounded by major employers such as Honda’s new manufacturing facility which should support increased demand for local housing. Positioned near major transportation corridors including U.S. Route 33, Mountainview provides straightforward access for site visits while offering residents connectivity to a diverse employment base throughout Logan County and Central Ohio. The local housing market provides a favorable backdrop for manufactured housing demand. Single-family homes in the area commonly trade just north of $200k, creating a meaningful affordability gap that positions Mountainview as an attractive option for residents seeking quality, lower-cost housing. As always, this is a confidential sale. Please do not go to the community without setting up a showing appointment with the listing agents. If on site, do not under any circumstances speak with any tenants or employees. Please contact us for additional information.