Riverside Mobile Home Park
Toledo, OH
Asking price
$750,000
Sites
85
Cap rate
—
Price / site
$8,824
About this property
Riverside Mobile Home Estates is at 18 City Park Avenue, about one mile southwest of downtown Toledo, Ohio. The site totals 7.64 acres and sits within a 15-mile radius population of 540,000+. The owner refers to 85 pads, while the State of Ohio license reflects 90 pads. Pad sizes are estimated at roughly 60 × 20 feet. The park is served by city water and city sewer and lies immediately adjacent to the downtown core, giving strong proximity to jobs, services, and transit. The property is zoned limited industrial and operates under a variance that has historically allowed mobile home park use. The current owner has held the park for three years. The location near downtown enhances suitability for affordable housing uses, subject to all required approvals and remediation. The City of Toledo condemned the park on May 23, 2025, deeming it unfit for human habitation due to conditions on site. Three tenants have not yet moved out. On September 23, the City shut off water service to accelerate final move-outs. Buyers should assume the park will be 100% vacant at possession. Once the final tenants depart, City Council has allocated $200,000 for cleanup. Work is expected to include removing vacant trailers, debris, and refuse. Cleanup costs will be placed as a lien against the property. Timing and scope are controlled by the City and will occur after the last residents vacate. In addition to any cleanup lien, existing encumbrances include more than $200,000 in water-utility liens for unpaid bills spanning over five years and approximately $50,000 in unpaid property taxes. Because the site has been designated a public nuisance, Toledo’s municipal code prohibits transfer of title unless the nuisance is abated or the Director grants consent. To obtain approval, a buyer must submit a Vetting Application; if approved, the City may issue a Consent to Transfer. For continued operation as a mobile home park, the City has indicated a full replacement of the water, sewer, and electrical systems will be required. All future plans are subject to City review, approvals, and compliance with code and utility standards. Despite significant regulatory, legal, and financial hurdles, the site’s downtown-adjacent location and existing utility connections create potential for future affordable housing or residential-oriented use once issues are resolved. The seller may consider creative financing, though flexibility is limited by existing liens. Jonathan Fisher is a Licensed Principal Broker in the State of Ohio for MR. LANDMAN, LLC under license #BRKP.2025001469.
All details
Figures are transcribed from the source listing as published. “Source page last checked” is when our crawler last fetched that page — it is not a check of the financials and not confirmation from the broker.
| Asking price | $750,000 |
|---|---|
| Sites | 85 |
| Price per site | $8,824 |
| Year built | 1960 |
| Address | 18 City Park |
| First seen by UnitListed | Sep 6, 2026 |
| Source page last checked | Oct 24, 2026 |
Before you call the broker
7 things are not disclosed on this listing. These are the questions that would close the gap — specific to a park, not a generic list.
Net operating income — not disclosed
What is the trailing twelve-month NOI, and what does it include and exclude?
The single number a lender will size debt against. Ask what is excluded — management fees and reserves are the usual omissions.
What period the financials cover — not disclosed
Are these figures trailing twelve months, last calendar year, or projected?
A projected stabilised NOI and a current operating NOI can differ by a third, and both get called "NOI".
Gross income and operating expenses — not disclosed
Can you share a trailing twelve-month profit and loss, with the expense lines itemised?
NOI alone hides whether income is high or expenses are being under-reported. The split is what you underwrite.
Reason for sale — not disclosed
Why is the owner selling, and how long have they held it?
Never published on a listing, always worth knowing. Retirement and a looming capital bill are very different situations.
Operating season and seasonal mix — not disclosed
Is this year-round or seasonal, and what is the split between seasonal, monthly and transient guests?
A seasonal park with a five-month window is a different business from a year-round one at the same annual revenue.
Utility infrastructure — not disclosed
Are water, sewer and electric municipal or private, and what condition is the infrastructure in?
A private septic or well at end of life is a capital item that can exceed a year of NOI, and it will not appear in the expenses.
Permits and non-conforming use — not disclosed
Is the current site count permitted, and is any of it legal non-conforming?
A park operating more sites than it is permitted for cannot be financed at the income it shows.
Asking price — disclosed
Currency of the asking price — disclosed
Site count and hookup mix — disclosed
Whether the land is included — disclosed
What has changed
Every date below is when we observed a change, not when it happened. We first saw this listing on Sep 6, 2026; that is not the same as when it came to market, and we have no way to know the latter.
- Sep 6, 2026First seen by UnitListed
The asking price has not changed across any of our observations.
