Columbus, OH MH Community

Capstone is pleased to present a 303-site manufactured
home community located just east of Columbus. It is in Licking County, which
recently made the news for Intel’s exciting ground-breaking in New Albany, OH.
The tech giant is planning to invest over $20 Billion in construction of two
semiconductor factories, which would bring thousands of jobs and opportunities
to the immediate area. Intel’s commitment to Ohio will address the global chip
shortage and create both manufacturing and STEM opportunities for thousands of
residents. The community, located less than 30 minutes away from the facility,
will directly benefit from the increased economic development in the county.
Additionally, the property is an institutional quality asset with a unique
history. The first phase of the community was built in 1995 with only 50 sites
and has grown to 303 sites across all 56 acres as demand for housing has
increased. The community now boasts a physical occupancy of 98%, with only 6
vacant lots. The pride in ownership is evident throughout the entire community,
and they offer a family-friendly amenities package that is appealing to all age
groups. Furthermore, although this is a premier community, the current owners
have not kept up with the market rents. The current lot rent is almost $150
below market, allowing a new owner to gradually increase rents to enhance cash
flow. This offering presents the exciting opportunity to acquire a stabilized,
turn-key asset in a high-growth market.

Investment Highlights:

Beautiful Curb Appeal

Proximity to New Intel Plant

Direct-Billed Public Utilities

Significant Lot Rental Upside