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Valley View Mobile Home Park

Hubbard, Ohio

Property overview

Valley Mobile Home Park is located in Hubbard, Ohio, which is considered part of the Youngstown–Warren–Boardman metropolitan area, typically known as the Mahoning Valley. Hubbard City sits inside of Trumbull County with a population count of 210,000 +/- residents as per the 2010 census. The park is less than 6 miles from downtown Youngstown, and the park is almost centered between Cleveland and Pittsburgh, conveniently near Highway 80 and Hubbard Road Intersection (Hubbard Road is an exit off I-80).

MHRE Inc. is proud to present Valley Mobile Home Park. The park is situated on +/- 5.5 acres, with easy access to local schools, parks, and recreational amenities. The park was converted to a MHP in 1945, with a total of 49 sites
The park currently has:
– 25 occupied sites
– 22 out of 24 homes are resident owned (site rent)
– 2 out of 24 are rent to own (3-4 years remaining)
– 1 out of 24 concession to on site manager
– 3 vacant homes for sale, which should be sold by 1/1/2019
– 21 vacant sites/value-add opportunity
– Park tenants enjoy the newer asphalt roads and easy access to major roads and highways
– Only a 15-minute drive to downtown Youngstown, and a 1-hour drive to Pittsburgh International Airport

Valley View Mobile Home Park
5925 Youngstown Hubbard Road
Hubbard, Ohio 44425

For detailed information on this property please contact: Eric Schierburg (303) 383-4727.

Property Summary

Total Sites49
Year Constructed1945
Land (Acres) +5.5
Occupancy53%
Average Rent/Site$235
PRIMARY USEAll Age
PROPERTY TYPEMHP
STAR CLASSIFICATION2
WATERPrivate Well
SEWERSeptic

OFFERING SUMMARY

Community Price850,000
Total Investment$850,000
Price per Site17,347
Price Occupied per Site$34,000
Cap Rate - Year 1 (With Reserves)7.92%