AAA mobile home pArk

PLEASE DO NOT SPEAK WITH TENANTS OR EMPLOYEES

For a video tour, please visit: https://vimeo.com/226075635

A 54-SITE COMMUNITYPRICE: $4,200,000 (INCLUDES 42 HOMES)

4976 Stanley AveLas Vegas, NV 89115

SITE INFORMATION

ADDRESS 4976 Stanley AveLas Vegas, NV 89115

COUNTY Clark

TAX PARCEL ID 140-20-802-001

SITES 54

YEAR BUILT 1970s

COMMUNITY TYPE All Age

LAND SIZE 4.56 acres

DENSITY 11.73 sites/acre

INVENTORY HOMES 42 (100% occupied as of May ‘17)

MH ECO OCC 98.1% (53 sites as of May ‘17)

MH PHYS OCC 98.1% (53 sites as of May ‘17)

AVERAGE LOT RENT $554

ROADS Asphalt

FLOODPLAIN ZONE X

ZONING R-T

PROPERTY DETAILS

INVESTMENT HIGHLIGHTS• Opportunity to acquire a nearly full 54 site park in a major MSA and

international hub of tourism.• Only one vacant lot in community indicates strong demand for

affordable rents in Las Vegas and provides and owner opportunity to continue to improve operations in the park.

• Stable deal with 98% economic occupancy, serviced by public utilities.

• 42 rent–to–own homes are being offered with the sale of the park. Seller has reported high demand for home rentals.

• No rent control in Nevada.

AREA HIGHLIGHTS• AAA MHP is conveniently located in Las Vegas, the largest city in

Nevada with a population over two million in Clark County. • Statewide unemployment continues to drop (now at around 5.1%)

such that the expectation is Nevada will reach its pre-recession employment peak in about two years. This is driven by the building/construction industry with big projects such as the Genting Group’s Resorts World Las Vegas nearby on the Las Vegas Strip.

• Las Vegas has earned the title “Entertainment Capital of the World,” and is an internationally renowned major resort destination known for gambling, shopping, fine dining, and nightlife. More than 42,000,000 people visited Las Vegas in 2016.

• The community is located five miles from downtown Las Vegas as well as the north end of the Las Vegas Strip. The Las Vegas Strip offers 250,000 job opportunities ranging from food and beverage to hospitality.

• Several major development projects are in the works: $10 billion Resorts World Hotel & Casino (will seat 65,000), $2 billion Las Vegas Stadium (future home of the Las Vegas Raiders), $1 billion Paradise Park at Wynn, and the $130 million expansion of the MGM Convention Center.

• Community is in close proximity to Nellis Air Force Base, home of the United States Air Force (USAF) Fighter Weapons School, the USAF Thunderbirds, and the NATO joint exercise Red Flag.

• Las Vegas recently became home to the Golden Knights National Hockey League franchise and will be home to the Las Vegas Raiders National Football League franchise starting in 2019. The Raiders new stadium is expected to create additional working class jobs for Clark County.

• AAA MHP is also located near numerous attractions, golf courses and recreation opportunities.

UTILITIES

WATER City of North Las Vegas (Park pays)

SEWER Clark County Water Reclamation District (Park pays)

ELECTRICITY NV Energy (Tenant pays)

GAS Southwest Gas Corp (Tenant pays)

TRASH Republic Services (Park pays)

A 54-SITE COMMUNITYPRICE: $4,200,000 AAA Mobile HoMe PArk

FINANCIAL ANALYSIS

1 1 1, 2

Assumptions3 Gross Scheduled Rent 0.00%

Gross Potential Income

Less: Vacancy 1.85%

Less: Bad Debt 1.00%

Total Rental Income 97.15%

UW vs Actuals & Proforma4 Plus: Other Income 2845 Plus: Box Rental Payment 1066

Total Other Income 1350

Effective Gross Income

EXPENSES per site6 Repairs & Maintenance $200

Payroll 425

Administrative 50

Marketing 5

Professional Fees 157 Utilities 0

Electricity 103

Water 404

Sewer 217

Gas & Propane 24

Trash 76

Total Variable Expenses $1,5188 Taxes 1299 Insurance 120

Management Fee 6.00%

Total Operating Expenses $2,23610 Plus: Capital Reserves 50

Total Expenses $2,286

NET OPERATING INCOME

Expense Ratio

2015 Actuals

1,277

578

529 28,557228

29.28%

$358,992

11,733

6,648

6,4800.00%

74

$1,526

$226,859

0

$1,727

85

0

$298,184

31.49%

0.00%

4,717

$255,059

26.78%

4,601

0

$104,269$1,931

2,97455

5,646

80

$92,588

105

83015

$1,931

00.00%

4,304

161

$1,715

$104,269

8,707116

87

$82,427

6,238

$79,855

245

$1,479

65

0

0$93,266

3,574

0

13,245

0

0$315,792

14,5300

269

100.00%

0.00%

$315,792

0.00% 00.00% 0

-8.91%

$320,227

$333,450$320,227

275

100.00%

202

010,901

0

10,901202

$9,300

Actuals

$331,128

per site

$172

$333,450-4.59%

$402

per site

$10,612

14,874

100.00%

0.00%

$315,792

00

2017 Inc Ann2016

$320,227 $333,450

0.00% 0 0.00%

00 0

$77,273

392

$197

per site

$348,325

$1,727

0

23.39%

$253,049

$1,431

(6,073)

$93,266 $123,4550

$348,754

15,321

270

$10,80022,950

Proforma Exp

6,981

21,8225,535

0$77,273$1,431

$358,992

3,590

INCOME

Proforma

72,885

-10.44%

14,53057,564

2,700

0

269

374459

66

0

275 14,874

5,374

$21,689

Actual Exp

20,182

Actual Exp

00 017

49142

944

7,649 100

0

16

24,782

6220 0 0

12 670 12

0

21,18711,392211

23 1,2403,978

2,700$120,755

25,298

-112

859

3,491$81,995

12,318

2,650

$421,639$330,322

77

4,097

31,205594,154

8100

3,194

1. Actual numbers based on financials provided by client

2. Annualized 2017 YTD P&L through May 15, 2017.

3. Proforma GSR grown 0%.

4. Proforma other income grown 3% from 2016.

5. Box Rental Payment (Rent to Own payment) averages $114 per unit x 12 months x 42 homes.

6. Repairs and Maintenance on rent to own homes are responsibility of Box Rental tenants. Repairs and Maintenance should be closer to 2015 & 2016 number than annualized 2017 number.

7. Adjusted utilities grown 3% from 2016. 2016 and Proforma utilities are closer to yearly utility expenses than the annualized 2017 P&L.

8. Proforma Taxes assume growing Clark County property tax 10% from 2017.

9. Insurance number should be stabilized around $120/pad and is trending negative on annualized 2017 P&L due to a one-time reimbursement.

10. Numbers do not reflect actual expense.

UNDERWRITING ASSUMPTIONS

A 54-SITE COMMUNITYPRICE: $4,200,000 AAA Mobile HoMe PArk

LOCATION & DEMOGRAPHICS

SILVER BOWLPARK

SPRING MOUNTAINRANCH STATE PARK

SPRING MOUNTAINRANCH STATE PARK

515

215

15

15

515

612

612

599

573573

604

147

147

159 159159

215

215

215

589

582

582

589

592592

574

171

95

93

93

Las Vegas Golf Club

The Wynn Golf Club

Royal Links Golf Club

Spanish TrailCountry Club

Taylor MadeGolf Experience

Rhodes Ranch Golf Club

The Clubat Sunrise

Shadow Creek Golf Course

N O R T H L A SV E G A S

N O R T H L A SV E G A S

S U N R I S E M A N O R

S U N R I S E M A N O R

P A R A D I S EP A R A D I S E

S U M M E R L I NS O U T H

S U M M E R L I NS O U T H

D E S E R TH I L L S

D E S E R TH I L L S

H E N D E R S O NH E N D E R S O N

L A S V E G A S

L A S V E G A SS P R I N G

V A L L E YS P R I N GV A L L E Y

DOWNTOWNLAS VEGAS

MCCARRAN INTERNATIONALAIRPORT LAS VEGAS

University of Nevada, Las Vegas

NORTH LAS VEGAS AIRPORT

Nellis AirForce Base

L A S V E G A S S T R I P

AAA MHP

DEMOGRAPHIC INFORMATION 1 MILE 3 MILES 5 MILES

2017 Population Estimate 22,426 211,488 412,007

Population Growth 2010 - 2017 8.33% 7.84% 8.41%

2017 Renter Occupied Housing Percentage 49.2% 44.7% 47.8%

2017 Owner Occupied Housing Percentage 37.2% 42.8% 38.4%

2017 Estimated Average Family Household Income $47,718 $52,349 $50,132

2017 Estimated Median Owner-Occupied Housing Value $126,652 $142,097 $133,950Source: U.S. Census Bureau

TOP CLARK COUNTY EMPLOYERS EMPLOYEES

MGM Resorts 56,000 

Clark County School District  35,000 

Caesars Entertainment 26,600 

Nellis and Creech AFB 14,000

Wynn Resorts 11,000 

Stations Casinos 10,000 

Las Vegas Sands Corporation 8,800 

Clark County 8,500 

Boyd Gaming Corporation 7,300 

University of Nevada Las Vegas 5,000

A 54-SITE COMMUNITYPRICE: $4,200,000 AAA Mobile HoMe PArk

LOCATION aerial & area attractions

HollywoodRegional ParkHollywoodRegional Park

Clark CountyWetlands ParkClark CountyWetlands Park

Nellis AirForce BaseNellis AirForce Base

Sunrise VistaGolf CourseSunrise VistaGolf Course

Royal LinksGolf ClubRoyal LinksGolf Club

Las Vegas Natl.Golf CourseLas Vegas Natl.Golf Course

University ofNevada, Las VegasUniversity ofNevada, Las Vegas

McCarranIntl. AirportMcCarranIntl. Airport

North LasVegas AirportNorth LasVegas Airport

Las VegasCountry ClubLas Vegas Country Club

Las VegasGolf ClubLas Vegas Golf Club

The Clubat SunriseThe Clubat Sunrise

LA

S V

EG

AS

ST

RI P

Las Vegas North Premium OutletsLas Vegas North Premium Outlets

15

515

604

159 159

612

612

95BUS

95

Desert PinesGolf CourseDesert PinesGolf Course

N O R T HL A S V E G A S

D O W N T O W NL A S V E G A S

P A R A D I S E

15

574

589589

592 592

593

582

AAA MHP

7 MI 5 MI 3 MI

LAS VEGAS STRIP

• Bringing in $6.3 billion of gaming revenue in 2016, the Las Vegas Strip is internationally recognized for its resort casino destinations.

• Home to the iconic Welcome to Las Vegas Sign, Wynn, Bellagio, Caesars Palace, Cosmopolitan, Venetian, and Aria.

NELLIS AIR FORCE BASE

• Home of the USAF Fighter Weapons School, which trains tactical experts and leaders of airmen skilled in the art of integrated battle-space dominance across the land, air, space and cyber domains.

• The USAF’s Air Demonstration Squadron, the Thunderbirds, performs precision aerial maneuvers demonstrating the capabilities of high performance aircraft to people throughout the world.

UNIVERSITY OF NEVADA, LAS VEGAS (UNLV)

• UNLV is the largest university in the State of Nevada, has an enrollment of 29,702 students, and offers over 350 degree programs.

• UNLV is highly ranked in many fields of study, especially Legal Writing (#3), Graduate Nursing (#6) and Fine Arts (#94).

A 54-SITE COMMUNITYPRICE: $4,200,000 AAA Mobile HoMe PArk

This information has been derived from sources deemed reliable. However, it is subject to errors, omissions, price change and/or withdrawal, and no warranty is made as to the accuracy. Further, no warranties or representation shall be made by ARA, A Newmark Company (ARA Newmark) and/or its agents, representatives or affiliates regarding oral statements which have been made in the discussion of the above property. This presentation, prepared by ARA Newmark was sent to the recipient under the assumption that s/ he is a buying principal. Any potential purchaser is advised that s/ he should either have the abstract covering the real estate which is the subject of the contract examined by an attorney of his/her selection, or be furnished a policy of title insurance. Do not contact the Property.

www.aranewmark.com

Additional information for AAA MHP is available on our website at:http://arausa.listinglab.com/AAAMHP

NATIONAL MANUFACTURED HOUSING GROUP

Vittal Ramvram@aranewmark.com T 702.405.1729

AAA MHP

KELL LN

STANLEY AVE

N LAMO

NT ST

BRYAN LN

N NELLIS BLVD

612

PLEASE DO NOT SPEAK WITH TENANTS OR EMPLOYEES

For a video tour, please visit: https://vimeo.com/226075635