Fohl Village

Fohl Village

Canton, OH
Available
  • Property Type: Manufactured Housing
  • Property Size: / 170 Acres / 321 Sites

Overview

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.

Investment Highlights

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

Contact Information

Brian Hummell Senior Investment Sales Advisor P: 614.318.5482
O: 800.261.9464 ext. 711
hummell@capstone-companies.com
Kevan Enger Partner P: 407.494.8541
O: 800.261.9464 ext. 704
kevan@capstone-companies.com
Ian Hilpl Director P: 315.406.0900
O: 800.261.9464 ext. 708
ian@capstone-companies.com
Hunter LaRocca Investment Sales Advisor P: 407.227.9643
O: 800.261.9464 ext. 712
hunter@capstone-companies.com
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