Capstone Manufactured Housing is pleased to present Fohl
Village, a 321-site community located in Canton, Ohio. Made up of 99% resident-owned homes, the low number of park-owned homes reduces costly repairs
& maintenance and management oversight. Current ownership has done an
excellent job of enhancing and maintaining the curb appeal and aesthetics of
the community. It is laid out across 90 well-manicured acres, including an
amenities package of a swimming pool, playground, and clubhouse. There are 80
acres of undeveloped land, which is approved for 100 expansion sites.
Fohl Village is currently operating at 78% occupancy,
leaving 68 sites to fill, and at the current lot rents, this would bring in an
additional $301,920 of lot rent income. Furthermore, since the utilities are
included in the lot rent, the adjusted lot rent is 51% ($145) below the market
average. A new owner can either increase the lot rents or gradually implement
utility pass-throughs to increase revenue. This offering presents investors
with the opportunity to acquire a beautifully maintained community, with strong
operational characteristics while also providing substantial value-add
components.
99% All
Resident Owned, Lot Rent Only Homes
Upside in
Filling 68 Vacant Sites
Expansion
Opportunity—100 Additional Sites
Below Market
Lot Rents
Opportunity to
Pass Back Utilities to Residents
Beautiful Curb
Appeal & Excellent On-Site Amenities