6605 Marion-Agosta Rd Marion, OH 43302
- Mobile home & RV parks
- 50.54 lot acres
Current Use by Public Records
- Mobile home & RV parks
Property Details for 6605 Marion-Agosta Rd
- Lot size
- 50.54 lot acres
- Property type
- Mobile home & RV parks
Description
This exceptional 50.54-acre mobile home community in Marion, Ohio, presents a compelling value-add investment opportunity. Currently boasting 112 lots, including 34 tenant-owned homes, 16 rent-to-own homes, and 62 vacant, home-ready lots, Oakridge MHC offers significant upside potential through infill development. The property generates a current NOI of $161,537, with a pro-forma NOI projected at $495,603, reflecting a 7.20% current cap rate and a projected 22.00% pro-forma cap rate. The average monthly lot rental is $410, and the average rent-to-own rental is $446. The community is conveniently located in Marion, Ohio, a city with a population of approximately 36,000, and benefits from its strategic location along major transportation routes, serving as a hub for industries in central Ohio and beyond. Oakridge MHC features private paved roads (in average condition), private water, and public sewer. Utilities are billed directly to tenants. The property includes a clubhouse, pool, and playground area. The asking price is $3,000,000. The property is not located in a flood zone or opportunity zone and is currently managed by an on-site manager. Financing options including conventional recourse, non-recourse, and bridge lending are available. This cash-flowing asset is ideal for investors seeking substantial returns.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Marion
- County
- Marion
- State
- Ohio
- Longitude
- -83.3071
- Latitude
- 40.5855
