500 Ervin Rd Van Wert, OH 45891-2417

Property Details for 500 Ervin Rd

Year built

1959

Construction

CONCRETE BLOCKS

Property type

Drive through restaurants

APN

12-027496.0000

APU

120274960000

Description

Olympia Park, located at 500 W Ervin Rd, Van Wert, Ohio 45891, presents a compelling investment opportunity. This 55-lot mobile home park, situated on approximately 6 acres in the city center of Van Wert, is a fully occupied and stabilized all-age community. The park's current lot breakdown includes 32 tenant-owned homes, 15 rent-to-own homes (with approximately 4 years remaining on each contract), and 7 park-owned homes, plus one vacant lot. Generating an average gross monthly income of approximately $22,000, the park benefits from professional local management. All utilities are billed directly to tenants except for water, which the park pays for at an approximate cost of $2,400 per month. The park boasts exceptional tenant retention, with an average annual turnover of only two tenants. A recent rent roll is available upon request. This turnkey operation is offered at an asking price of $2,150,000. The property's strong occupancy rate, consistent income stream, and low tenant turnover make it an attractive investment for experienced mobile home park operators.