PRICE: $995,000 General Information: Existing Lots: 29 on 4.159 acres Location: North of Alexis Road Constructed: 1956 (per Owner) Overall Condition: Good County: Lucas Zoning: C-2 Highway and General Commercial District Parking: Off-street 2 spaces per lot plus guest/overflow parking in the southeast corner of the park Street: Asphalt The information contained herein is from sources deemed reliable, but no warranty or representation is made as to accuracy thereof. It is subject to correction of errors, omissions, change of price prior to sale or withdrawal from market, all without notice. Further, no warranty or representation is made in regard to any environmental Remarks: Well maintained, unique mobile home park investment in desirable Sylvania Township location. 29 lots 8 park-owned homes included. All homes are separately metered for utilities. Owner reads water meter quarterly and bills tenants. Sewer lines are glazed tile; water lines are copper. Secluded location surrounded by mature trees and landscaping. Numerous long term tenants. Additional land at south end of park could accommodate future expansion. Per owner, plans were previously submitted to and approved by municipality. Owner is NOT interested in Seller financing.
Rent Roll as of March, 2014: Real Estate Taxes as of 2014: Lot Number Monthly Rent Lot Number Monthly Rent TD: 78 Parcel: 06691 1 $ 330 16 $ 350 2 $ 330 17 $ 350 3 $ 330 18 $ 350 4 $ 330 19 $ 330 5 $ 330 20 $ 330 6 $ 330 21 $ 350 7 $ 330 21A $ 330 8 Manager 22 $ 330 9 $ 350 23 $ 330 10 $ 330 24 $ 330 11 $ 350 25* 12 $ 350 26 $ 330 13 $ 300 27 $ 330 14 $ 330 28 $ 350 15 $ 330 TOTAL $9,600 NOTES: Total Annual Taxes: $10,450.52 Guest/Overflow Parking All owner occupied units having a monthly lot rental rate of $330 and pay an additional $15 per month from April to November for lawn care. * Lot 8 is occupied by the Owner. Their intention is to remain as a rent paying resident after the sale. Utilities: Electric Toledo Edison Gas Columbia Gas Water City of Toledo Sanitary Sewer City of Toledo Storm Sewer City of Toledo Service Garage The information contained herein is from sources deemed reliable, but no warranty or representation is made as to accuracy thereof. It is subject to correction of errors, omissions, change of price prior to sale or withdrawal from market, all without notice. Further, no warranty or representation is made in regard to any environmental
Projected Financials Based Upon Current Income and 2013 Expenses Income Owner Occupied Pads $ 78,840.00 Park Owned Pads 33,600 Gross Operating Income $112,440.00 Less: Operating Expenses Real Estate Taxes $10,450.36 Mobile Home Tax 372.68 Lawn Service* 500.00 Insurance 689.00 Snow Plowing 280.00 Utilities: Water 2,623.62 Gas 2,023.16 Electric 1,508.05 Refuse 1,725.00 Repairs & Maintenance 1,446.00 Reserve 1,500.00 Advertising 208.80 Supplies 576.00 Auto/Travel/Miscellaneous 500.00 Office exenses 283.90 License Fee 266.20 Management Fee 5,500.00 Vacancy** 3,900.00 Total Operating Expenses $ 34,352.77 Net Operating Income $ 78,087.23 Owner currently self-manages the Park. * Owner mows park owned homes in addition to common areas. ** Vacancy loss is estimated. There was some vacancy in 2013. The information contained herein is from sources deemed reliable, but no warranty or representation is made as to accuracy thereof. It is subject to correction of errors, omissions, change of price prior to sale or withdrawal from market, all without notice. Further, no warranty or representation is made in regard to any environmental
The information contained herein is from sources deemed reliable, but no warranty or representation is made as to accuracy thereof. It is subject to correction of errors, omissions, change of price prior to sale or withdrawal from market, all without notice. Further, no warranty or representation is made in regard to any environmental
For more information contact 419-249-7070 The information contained herein is from sources deemed reliable, but no warranty or representation is made as to accuracy thereof. It is subject to correction of errors, omissions, change of price prior to sale or withdrawal from market, all without notice. Further, no warranty or representation is made in regard to any environmental