BEACHWOOD MOBILE HOME PARK Doheny Park Road, Dana Point, CA. Manufactured Housing Community For Sale 4X6 PICTURE

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1 BEACHWOOD MOBILE HOME PARK Doheny Park Road, Dana Point, CA Manufactured Housing Community For Sale 4X6 PICTURE $9,500,000 Sales Price 92 MH Sites + 4 RV Sites, 8 Rental MH One-Half Mile to Beach in Orange County $850k MH Notes + 3 New Manuf. Homes Newer Electrical + Water Utilities, Asphalt No Rent Control New Low Rate Financing Can Be Obtained 7.9% Cap Rate, 9.1% Cash Flow For Further Information Contact: John Grant/Park Brokerage Inc. (858) , john.grant@earthlink.net Don Grummer/J&H Asset Property Mgt Inc. (714) , don@jandhmgt.com Information contained herein has been obtained from the owner of the property or from other sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it.

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5 SATELLITE MAP OF NEIGHBORHOOD SATELLITE MAP OF SUBJECT

6 MANUFACTURED HOUSING COMMUNITY Beachwood Mobile Home Park 92 MH Sites + 4 RV Sites + 8 Rental Homes + 3 New Homes Address/City Doheny Park Road City/County Dana Point/Orange Price $9,500,000 Down Payment $2,375,000 State California Est. Vac. & Expense % See Proforma Attached Capitalization Rate 7.9% (based on $8.5M net of pp) Age Built 1952, Extensive Renovation 2008 Est. Spendable Return 9.1% Loan Buyer to Obtain Total Return W/ Notes 13.8% Parcel Size 4.7 Acres No. Spaces 96 Water City Sewer City Listing Salesman John Grant (858) , Don Grummer Price per Site: $88,542 DESCRIPTION AND TENANT INFORMATION: 96 sites manufactured housing community in good condition with many upgrades in the beach community of Capistrano Beach in the City of Dana Point, one-half mile to the beach. 92 mobile home sites, 4 RV sites, 2 manager mobile homes, and 8 rental mobile homes. Currently occupied by 17 doublewides, 67 singlewides, 4 park models, 4 RV s, and 4 vacancies. Nine years ago J+H Property Management was hired and in a park renovation was completed with a new electrical system, water system, asphalt overlay, pool, and many other improvements. Many older homes were removed and 22 new homes were installed and sold typically with $5,000 down and then the park carrying the financing at 6.5% fully amortized over 20 years. From the sales $850,000 in notes are included in the purchase with monthly loan payments of $9,438. Park currently has three new 14X40 homes for sale at $69,000 each that are also included in the sales price. Site rents are $800-$950 plus submetered 50 and 100 amp electric, gas, water, sewer and flat rates charges of $22.89 for trash and $3.68 for insurance pass thru. Rental homes are $900-$1,200 plus utilities. Some of the residents are on five year lease agreements and no rent control in the City of Dana Point. No rent increases in the last three years. Typical site sizes are feet wide X feet length. Amenities include a 793 square feet recreation center with assembly area and office, a 1,104 square feet laundry, restrooms, and storage, swimming pool, playground, and bbq area. Costco, Albertson s, Staples, Big 5, other retailers, and an elementary school are across the street from the park. Disclosures: A portion of sites 1-23 along Camino Capistrano were built in the City of Dana Point easement for potential/future road widening. New homes can only be installed with an approximate maximum length of 34 feet. Sites 24A-46 encroach an estimated 2-12 feet on the adjacent Beachwood Village Mobile Home Park (both parks were built and operated together for 50 years until the land lease ended on Beachwood Village two years ago and reverted back to land owners). Broker working on obtaining cost from Beachwood Village owner for lot line adjustment, or potentially Beachwood Village can be purchased for $10.25M (73 doublewide sites at $1,100 per month plus five retail tenants). TOTAL ESTIMATED NET INCOME BEFORE DEBT SERVICE LOAN INFORMATION Buyer to obtain new 75% 1 st trust deed of $7,125,000 at a 5.125% fixed interest rate for ten years with monthly payments amortized over 30 years. Monthly payment: $38, $670,596 TOTAL ANNUAL PRIN. $465,273 & INTEREST PAYMENT EST. ANNUAL PRE-TAX $215,323 CASH FLOW (SPENDABLE) PLUS MH NOT E INCOME $113,256 TOTAL RETURN $328,579

7 BEACHWOOD MOBILE HOME PARK ACTUAL Year End 2011 ACTUAL Year End 2012 Broker Proforma REVENUES Rent 882, , ,000 Late Charges 3,800 4,500 4,500 Storage/Parking 980 1,140 1,140 Laundry 2,166 1,908 1,908 Other Fee Income Gas 24,178 20,519 20,519 Electric 42,374 38,512 38,512 Water 24,447 24,399 24,399 Trash 21,361 21,947 21,947 Sewer 37,337 38,290 38,290 Miscellaneous Interest-MH 64,303 57,732 0 January 13 Rent Roll annualized is $947,400. Last rent increase three years ago. TOTAL REVENUES 1,103,615 1,097,447 1,076,965 EXPENSES Street Lights 1, Accounting 2,100 2,575 2,575 Billing Service 2,414 2,448 2,448 Auto Insurance 1,671 2,786 0 Advertising 33 1,254 1,254 Building Repair/Maint. 7,280 12,553 12,553 Suplies-Build/Maint/Repair Unit Prep/Lot Prep 3,880 3,600 1,000 Electrical Repairs 630 1,149 1,149 Plumbing/Sewer Repairs 6,282 4,605 4,605 Gas Repair/Maintenance Furniture/Equip Repair/Mai Janitorial 1,593 2,549 2,549 Air Conditioning/Heating Contrib/Dues/Subscriptions 1,378 1,570 1,570 Meter/Repair/Supplies 2, Road Paving 1, Streets/Walkways 0 35,868 5,000 Tree Trim/Remoe/Replace Signs 2, Fence & Wall ,640 1,000 Fire Hydrant Repair Furnishings & Equip Insurance 23,971 26,114 15,000 Medical Insurance 27,653 35,720 16,000 Groundskeeping 7,632 7,944 7,944 Landscape Repairs/Supply Consultations/Appraisals 0 5,000 0 Legal 98, ,658 3,000 Licenses & Permits 6,068 3,520 3,520 Management Fees 39,679 39,376 39,376 Business Mtgs/Meals Car Payment 22,181 28,123 0 Office 3,447 3,297 3,297 Pest Control Carpet/Tile/Flooring 0 2,489 0 Paint/Wallpaper Owner Expense Repairs & Maintenance total in Broker Proforma is $45,109 for 96 spaces 2 manager mobile homes, and 8 rental, park owned homes. New wood fence built on Camino Capistrano Broker anticipates lower cost for Employees cost only. Difference is Owner expense Legal expense between owners Owner expense

8 BEACHWOOD MOBILE HOME PARK Pool Chemicals Pool /Spa Contract Service 0 2,186 2,186 Pool/Spa Repairs/Supply 2,910 1,208 1,208 Property Taxes 744 7,547 93,575 Property Tax/Mobile Home 7,445 2,346 2,346 Salaries 18,111 25,629 25,629 Payroll Taxes 2,181 2,673 2,673 Worker's Comp Insurance 1,873 1,560 1,560 Seminars/Education Water 30,218 34,405 34,405 Sewer 39,514 38,937 38,937 Gas 12,704 9,527 9,527 Electric 35,411 35,438 35,438 Trash 24,773 26,630 26,630 Telephone 1,296 2,339 2,339 Gas/Elec/Backflow Survey Construction Dumpster 0 3,383 0 Vehicle Repair/Maint 196 1,278 0 Warranty Repairs 1, New property taxes estimate based on a real property value of $8,500,000 deducting $1,000,000 from the sales price for the approximate $850,000 in MH notes and the three vacant new homes included in the sales TOTAL EXPENSES 449, , ,369 NET INCOME 654, , ,596 Estimated 12 months net income going forward Broker Proforma is an estimate and used only as an example. The Seller and Broker do not guarantee it and Buyer to make independent investigation and evaluation of the potential revenue, expenses, and occupancy streams for the property.

9 BEACHWOOD NEW AND REHAB HOME SALES Status on 7/19/2011 Pending Changed from 9/10/2010 New Homes Space # Ordered Delivered In Escrow Closed Sale Price Profit Down Pmt Loan Amt 'Rent/Start Loan Pmt Mo. Income 14 ~ X 6/1/2011 $ 48,000 $ (171) $ 5,000 $ 43,000 $ 800 $ 387 $ 1, X X 2/25/2009 $ 54,900 $ 4,316 $ 5,000 $ 49,900 $ 600 $ 372 $ A X X X 2/25/2008 $ 109,900 $ 24,559 $ 10,000 $ 99,900 $ 700 $ 745 $ 1, X X 4/1/2011 $ 48,000 $ (4,045) $ 5,000 $ 43,000 $ 700 $ 387 $ 1, X X X 1/7/2010 $ 74,900 $ 26,241 $ 5,000 $ 69,900 $ 700 $ 521 $ 1, X X X 6/17/2009 $ 74,900 $ 9,396 $ 5,000 $ 69,900 $ 700 $ 481 $ 1, X X X 9/11/2009 $ 74,900 $ (3,019) $ 5,000 $ 69,900 $ 700 $ 521 $ 1, X X X 5/9/2008 $ 84,000 $ 13,667 $15,000ITrade $ 69,000 $ 700 $ 514 $ 1, X X X 6/29/2009 $ 70,000 $ 14,237 $ 5,000 $ 65,000 $ 700 $ 485 $ 1, X X X 9/11/2009 $ 66,900 $ 4,823 $ 5,000 $ 61,900 $ 700 $ 462 $ 1, X X X 5/27/2008 $ 59,900 $ 10,080 $ 5,000 $ 54,900 $ 600 $ 409 $ 1, X X X 7/28/2010 $ 59,900 $ 6,521 $ 59,900 $ $ 600 $ $ X X X 3/16/2010 $ 59,900 $ 7,686 $ 49,900 $ $ 600 $ $ X X X 7/23/2010 $ 69,900 $ 6,799 $ 5,000 $ 64,900 $ 600 $ 484 $ 1, X X 78 X X X 7/6/2009 $ 59,900 $ 6,626 $ 5,000 $ 54,900 $ 600 $ 409 $ 1, X X X 9/3/2010 $ 55,000 $ 1,843 $ 55,000 $ $ 600 $ $ X X X 1/12/2010 $ 74,900 $ 15,270 $ 4,000 $ 70,900 $ 700 $ 529 $ 1, X X X 4/25/2008 $ 64,900 $ 6,555 $ 7,000 $ 57,900 $ 600 $ 432 $ 1, X X X 4/25/2008 $ 64,900 $ 4,965 $ 5,000 $ 59,900 $ 600 $ 447 $ 1, X X X 7/17/2008 $ 84,000 $ 9,167 $ 12,000 $ 72,000 $ 700 $ 537 $ 1,237 Rehab 47 X 4/20/2009 $ 12,000 $ 4,000 $ 5,000 $ 7,000 $ 900 $ 109 $ 1, X 5/1/2009 $ 49,900 $ 5,000 $ 6,900 $ 44,900 $ 900 $ 362 $ 1, X 3/14/2008 $ 49,900 $ 13,730 $ 5,000 $ 44,900 $ 900 $ 429 $ 1, X 9/11/2008 $ 49,900 $ 21,148 $ 5,000 $ 44,900 $ 950 $ 416 $ 1, X 9/4/2008 $ 30,000 $ 8,206 $ 30,000 $ $ 950 $ $ 950 TOTALS (closed sales only) $ 1,551,300 $ 217,601 $ 309,700 $ 1,218,500 $17,800 $ 9,438 $ 27,238 Notes:

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