7640 Oh-15 Defiance, OH 43512
- Mobile home & RV parks
Current Use by Public Records
- Mobile home & RV parks
Property Details for 7640 Oh-15
- Property type
- Mobile home & RV parks
Description
This exceptional investment opportunity presents Airway Estates, a 42-site mobile home park located in Defiance, Ohio, at 7640 OH-15, zip code 43512. Currently boasting 29 occupied tenant-owned homes with an average monthly lot rent of $395, this community is poised for significant growth. The seller will ensure 100% occupancy (all 42 sites) at closing, comprising 13 additional lots leased at the same rate. This translates to a projected total operating income of $281,208 by year five, yielding a projected 22.25% cash-on-cash return over a five-year holding period. The park benefits from city water services with tenant bill-back, minimizing operational expenses. Strategically situated outside both Toledo and Fort Wayne, Indiana, Airway Estates offers a compelling bolt-on acquisition for investors seeking to expand their portfolio in Ohio or the Midwest. The asking price for this fully occupied, high-return property is $1,200,000. This is a turnkey operation with immediate cash flow potential. The community is situated in Defiance County, Ohio.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Defiance
- County
- Defiance
- State
- Ohio
- Longitude
- -84.4267
- Latitude
- 41.3313
