Park Place. A d v i s o r s, I n c. P P A EXCLUSIVELY OFFERED FOR SALE. Ponderosa Mobile Estates 2933 Forebay Road Pollock Pines, CA 95726

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Ruby Williamson
6 years ago
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1 A d v i s o r s, I n c. EXCLUSIVELY OFFERED FOR SALE 48 Space Senior Mobile Home Park ~ 68 Self Storage Units ~Purchase Price: $2,450,000 ~ Cap Rate: 7.17% ~ Offered By: Park Place Advisors, Inc. Christopher D. Busby 5176 Covenant Court Loomis, CA 95650

2 A d v i s o r s, I n c. CONFIDENTIALITY STATEMENT This Confidential Memorandum and Investment Offering ( Memorandum ) has been prepared by Park Place Advisors, Inc. (Owner s Exclusive Agent) to assist you in determining your level of interest in acquiring the ( the Property ). The Memorandum is solely for informational purposes and does not purport to be all-inclusive regarding the information needed to make a purchase decision. No representation or warranty is made by Owner, Owner s Exclusive Agent, or any of their officers, employees or agents, expressed or implied, as to the accuracy or completeness of the contents of this Memorandum. Although the information contained herein is believed to be correct, a prospective purchaser s due diligence should include independent verification of all such information as the Owner, Owner s Exclusive Agent, their employees or agents make no representation as to its accuracy or completeness. No legal commitment or obligation shall arise by reason of the Memorandum or its contents. Any representation, warranty or other statement made by Owner shall be given only to the ultimate purchaser and then only in a separate written document(s) which makes specific reference to the undertaking or representation being made or assumed. This Memorandum is subject to prior placement, errors, omissions, changes, withdrawal or cancellation without prior notice. Owner exclusively reserves the right, at its sole discretion, to reject any and all expressions of interest or offers regarding the Property and/or to terminate discussions with any entity at any time with or without notice. Owner s Exclusive Agent is not authorized to make any representations or agreements on behalf of Owner. This Memorandum and its contents, except such information which is a matter of public record, are of a confidential nature and are the property of the Owner s Exclusive Agent. By accepting a copy of the Memorandum, you agree to treat the information herein in strict confidence and you agree not to photocopy or duplicate it or disclose it or its contents to third parties, except for outside advisors retained by you to assist you in your evaluation, without the prior written consent of the Owner or Owner s Exclusive Agent.

3 Price: $ 2,450, Space Senior Mobile Home Park and 68 Self Storage Units Down Payment: $ 735,000 30% New Financing: $ 1,715,000 Five year fixed rate at 4.5%, 30 year amortization due in 10 years, $8,767/month Cap Rate 7.17% NOI: $ 175,746 Price Per Space/Door: $ 21,121 Cash Flow: $ 70,542 Cash on Cash Return: 9.60% Description: Utilities: Rent: Rent Control: is a beautifully maintained senior community located in the tall ponderosa pines country of the Sierra Nevada foothills. The residents enjoy a heated swimming pool and a convenient laundry facility. The community is centrally located close to shopping, recreational lakes offering boating, hiking and biking trails. Only forty five scenic minutes to South Lake Tahoe which offers limitless year round recreational opportunities. You will notice the attention to detail throughout the park as the owner has worked very hard over the years to maintain a high level of pride of ownership. There is an onsite manager and assistant manager that oversee the mobile home park and the self storage facility. There are currently 6 vacant spaces at the park providing some upside in filling spaces. There are 3 homes that take up 2 spaces so there are a total of 45 possible rent producing sites. The community is on city water and a septic system. Cable is paid for by the park. Propane is directly billed. Electric is sub-metered except for space 48 which is directly billed. Water, sewer and garbage are included in the rent. Rent is $475. Rental homes rent for $775 (2). Storage Units rent for $85 on small units (26), $150 on large units (42). There is no Rent Control in the City of Pollock Pines This information has been secured from sources we believe to be reliable, but we make no warranties or representation, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risks for inaccuracies.

4 New Owner Income & Expense Income Footnotes 1 Gross Space Rent $ 255,600 1 Annualized May 2015 rent roll 2 Park Vacancy -34,200 2 Total of six vacant sites at $475 3 POH Rental Income 5,400 per space 4 Self Storage Gross Income 100,080 3 There are three park owned homes, 5 Self Storage Vacancy -30,000 two rented, see rent roll for amounts 8 Electric 18,155 4 There is a 68 door self storage 6 Miscellaneous 728 facility on the property included in the sale Total Income $ 315, non-revenue producing units 6 As per the owner records for Estimated at % of sales price 8 Actual 2014 Expenses , includes equipment rentals 10 One manager at $12.50 per hour 7 Property Taxes $ 25,786 estimated work hours are 30 hours 8 Insurance 4,905 per week. 10 On-Site Payroll 19, Estimated at 23% of payroll 11 Payroll Tax 4,416 9 Maintenance & Repairs 11,245 3 Park Owned Home Repairs 6,137 8 Vehicle 2,225 8 Electric 17,588 8 Propane Water, Sewer & Garbage 17,258 8 Cable Service 8,094 8 Legal & Professional 6,469 8 Bank Fees 2,259 8 Office 7,107 8 Dues & Subscriptions 1,778 8 Permits & Licenses Miscellaneous 4,364 Total Expense $ 140,017 NOI $ 175,746 This information has been secured from sources we believe to be reliable, but we make no warranties or representation, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risks for inaccuracies.

5 September 2015 Rent Roll Space Rent Space Rent Space Rent 1* $ $ $475 2 $ $ $475 3 $ $ $475 4 $475 20*** 36** $475 5 $ $ $475 6* $ $ $475 7 $475 23**MGR $ $475 8 $475 24** $475 40* $475 9* $ $ $ $ $ $ $ $475 43* $ $475 28* $ $475 13*** 29 $ $ $ $ $ $ $ $475 16*** 32 $ $475 Total $21,300 * - Vacant Space (spaces, 1, 6, 9, 28, 40, & 43) ** - Park owned Rental (spaces, 23-MGR pays $400/month, 24 Pays $200 home rental & 36- pays $250 additional for home rental) ***- Non rent producing sites because a double wide home takes up this space and the one next door (12 &13, 15 &16, 19 &20)

6 Self Storage Rent Roll 1 $ 85 18*** $ $ $ $ 85 19*** $ 85 36*** $ a***$ 85 3*** $ $ $ b***$ 85 4 $ $ 85 38** $ 0 54 $ $ *** $ 85 39* $ $ $ $ 75 40*** $ $ $ $ $ 85 57*** $ 150 8*** $ *** $ $ $ 150 9*** $ $ $ 85 59*** $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ *** $ *** $ *** $ *** $ $ $ $ $ $ $ 85 16*** $ $ $ *** $ $ $ *** $ $ 85 Total Monthly Unit Charges $ 8,690 * - Vacant Unit ** - Park Storage Unit *** Delinquent Unit This information has been secured from sources we believe to be reliable, but we make no warranties or representation, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risks for inaccuracies.

7 Ponderosa Pines Mobile Estates

THREE STAR MHP INVESTMENT OPPORTUNITY. Arrow Palms MHP. 543 N. Lamb Blvd. Las Vegas, NV 89156

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