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$750,000
Est. payment /mo
7.64 Acres Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family 5+
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12484180
Year Built 1960
Annual Tax Amount $6,614
Tax Year 2024
Lot Size 7.640 Acres
Lot Dimensions 60 x 77 x 1119 x 212 x 174 x 889 x 232 x 214
Property Sub-Type Multi Family 5+
Property Description
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.
Location
State OH
Area Out Of Area South
Zoning INDUS
Interior
Fireplace N
Building
Dwelling Type Multi Family 5+
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Listed by Jon Fisher of MR. LANDMAN