BIBB COUNTY TWO-PARK MANUFACTURED HOME COMMUNITY PORTFOLIO …images1.loopnet.com/d2/jdIouLJnT3yGwCpk2HZUM2gDT_Qu1tY1kv8rPw-1LKU/... · We welcome the opportunity to provide you with

BIBB COUNTY TWO-PARKMANUFACTURED HOME COMMUNITY PORTFOLIO

NOVEMBER 2017

CONFIDENTIAL EXECUTIVE OFFERING MEMORANDUM

MACON, GA

MAXWELL BAKER/404-442-2807/[email protected] ESTERSON/423-483-0492/[email protected]

MAXWELL BAKER/404-442-2807/[email protected]

TABLE OF CONTENTSOFFERING OVERVIEW• Welcome Letter

BIBB COUNTY MANUFACTURED HOME COMMUNITY • Executive Summary• Key Considerations• Investment Highlights• Financial Overview / Infrastructure• Rent Comps / Map

COUNTRY ESTATES MHP• Property Description• Aerial Map• Rent Roll• Location Map• Demographics

NORTH PARK MANOR MHP• Property Description• Aerial Map• Rent Roll• Location Map• Demographics

ADVISOR BIOS

01

02

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WELCOME LETTERINVESTMENT OPPORTUNITYWe welcome the opportunity to provide you with our in depth overview of Bibb County Two-Park Manufactured Home Community Portfolio and its position in this current market. We will give you our honest, no holds barred assessment of this portfolio which consists of 139 MHP lots plus three single family homes and two duplexes. This offering memorandum provides a better understanding of how this investment currently performs, its investment potential, and what it takes to get it there.

As leading specialists in the industry, our primary interest is to give you a clear understanding of the driving forces in the current marketplace. Our evaluation is based on verifiable data, market knowledge and proven experience that we feel will serve your best interest at this time.

We invite you to thoroughly review this offering memorandum, If you have further interest, please contact us to discuss any questions you may have, as well as schedule a tour of the property.

GUIDELINES

Offers must be presented in writing and include:

• Price

• Source of capital and relevant experience

• Proposed schedule of due diligence and closing

• Amount of earnest money

• List of contingencies including committee approvals, possible 1031 exchanges, etc.

OFFERING OVERVIEW | 3MAXWELL BAKER/404-442-2807/[email protected] ESTERSON/423-483-0492/[email protected]

PROPERTY LOCATIONS: Macon, GA

PROPERTY TYPE: Manufactured Home Community

TOTAL LOTS:139 lots, plus three single family homes (SFH) and two duplexes

VACANT PADS: 64

TOTAL POH: 38 POH

LOT RENT: $210-250 ($216 average)

AVERAGE POH RENT: $212 above lot rent

ACRES: ± 25.36 (total both parks)

PRICE PER PAD: $11,500

TOTAL PRICE: $1,650,000

EXECUTIVE SUMMARY

INVESTMENT OPPORTUNITYLee & Associates and The MHP Broker are pleased to offer the sale of the Bibb County Two-Park Manufactured Home Community Portfolio, located in the Macon, GA (Macon GA MSA). This well located, value-add MHC portfolio has plenty of upside in a strong market.

The two, non-adjacent parks, located approximately 17 miles apart, have a total of 139 lots plus three single family homes (SFH) and two duplexes. There are 37 lot rent only tenants. Lot rents average $216 with a range of $210-$250. Rent was raised in 2017. There are 64 vacant lots. Current occupancy is roughly 56%. This MHC portfolio has city sewer and city water that is sub-metered and is billed back to the tenants.

There are 38 park-owned homes (POH), including seven rent-to-own (RTO) homes that are in good condition with an average model age of 1984, but many have been fully renovated in 2016/2017. There are 17 vacant park-owned homes. The tenant-owned units are in fair shape with a majority of them being ‘80s and ‘90s models. The SFHs and duplex are in average shape and four units are currently rented. The privately maintained roads are paved and in fair condition as our offering price suggests. The parks are NOT in a flood zone.

This portfolio is being offered as a value-add investment with a 8.00% CAP on current lot rent only, using a 43% expense ratio plus consideration for the park-owned homes. There is an additional $48,000 of POH rental income that is not included in the CAP rate. We are asking investors for shell value only on the 38 POH of $3,950 each, well below replacement cost.

We are looking for cash offers, however, Seller Financing is be available to highly qualified buyers for this deal. At full price, using the Seller’s loan (6.0% interest only, 25 Year Amortization, 25% down) the overall Cash On Cash Return for the park is ±13%. The price per lot is approximately $11,500 and includes full infrastructure for each lot. We are asking our investors to submit offers at or above $1.65M for the entire park including POH. The potential of this park, using an 85% occupancy and only calculating the current lot rent value and equal consideration for the POH, is $2.93M.

BIBB COUNTY TWO-PARK MHC PORTFOLIO | 4MAXWELL BAKER/404-442-2807/[email protected] ESTERSON/423-483-0492/[email protected]

KEY INVESTMENT CONSIDERATIONSPROPERTY ADDRESS:

# Pads: 144 PPP= $11,458.33 Seller BuyerBased on Purchase Price of List Price: $1,650,000 Current YEAR 1

$ 1,650,000 $ 1,650,000

Base RentPad Rents 175,140$ 175,140$ Vacant Pads at Market Rents 82 (64 Lots/18 POH) 221,400$ 221,400$

Gross Potential Rent Income (GPRI) 396,540$ 396,540$ Reimbursements

Water Sewer $53 CAM Avg. (Low $40 High $70) 35,309$ 35,309$ Total Expense Reimbursement 35,309$ 35,309$ GROSS POTENTIAL INCOME (GPI) 431,849$ 431,849$

VACANCY 44.09% 221,400$ 221,400$

EFFECTIVE GROSS INCOME (EGI) 210,449$ 210,449$ EXPENSES:

R/E TAX Land 9,328$ 11,661$ R/E TAX POH 2,887$

INSURANCE Liability 4,509$ 2,500$ INSURANCE POHFLOOD INS Not in Flood Zone

MANAGEMENT PM @ 10% 27,600$ 21,045$ PAYROLL None

MAINTENANCE Park Only 5,385$ 7,500$ MAINTENANCE POH

WATER Sub-Metered, Billback, City 18,600$ UTILITIES W/S/T/E 42,816$

SEWER Sub-Metered, Billback, City 18,600$ TRASH Included in Utilities

ELECTRICTY Included in UtilitiesLANDSCAPE Included in Utilities

OFFICE SUPPLIES 500$ OFFICE 5,970$ 2,500$

ADVERTISING 1,500$ SECURITY 500$

LEGAL 3,534$ 2,500$ LIC / PERMITS 500$

Bank Fee 1,276$ 1,500$ ROADS Private 1,000$ OTHER

TOTAL EXPENSES 103,307$ 90,405$

NOI----------------------------------------------------------------------------------------- 107,142$ 120,043$

Country Estates & North Park Manor - Macon GA

INCOME & EXPENSE REPORT

OTHER INCOME (Not Capitalized Income)POH Rents 48,321$ 48,321$ POH EXPENSE 40% -$ (19,328)$

TOTAL OTHER INCOME 48,321$ 28,992$

OPERATING CASH FLOW BEFORE DEBT 155,463$ 149,036$ Interest Rate Amort. Years Down Payment

DEBT SERVICE #1 6.000% 25 25% 95,679$ 95,679$ DEBT SERVICE #2 Seller Financing 3-5 Yr Note . -$ TOTAL DEBT SERVICE------------------------------------------------------------ 95,679$ 95,679$

CASH FLOW--------------------------------------------------------------------------- 59,784$ 53,357$ PRINCIPAL REDUCTION 22,028$ 22,028$

81,812$ 75,385$

CAP RATE (NOI/PP) 6.49% 7.28%COCR (CF/DP) 14.5% 12.9%EXP RATIO (EXP/EGI) 49.1% 43.0%TOTAL RETURN (CF+PRIN / DP) 19.8% 18.3%PRINCIPAL REDUCTION 22,028$ 22,028$ DCR (NOI/DS) 1.12 1.25PRICE PER PAD 11,458.33$ 11,458.33$

TOTAL PRE-TAX CASH FLOW

ADVISED PRICING Current OccupancyLOT VALUE 1,500,542$ 8.00% CAPPOH VALUE 150,000$ 2.75 | $3950 GRM / Per POHTOTAL VALUE 1,650,000$ 7.35% ALL IN CAP

12.94% ALL IN COCR38 POH

PRO-FORMA VALUE 85% OccupiedLOT VALUE 2,799,360$ 8.5% CAPPOH VALUE 133,000$ 2.75 | $3500 GRM / Per POHTOTAL VALUE 2,932,360$ $270 Lot Rent Inc Water

40% Exp Ratio 38 POH


INVESTMENT HIGHLIGHTS

• 139 Lot Value-Add Portfolio with Motivated Seller

• 18% Total Return

• Located an Hour South of Atlanta

• 8.0% CAP on Lot Rent with 43% Expense Ratio

• Bill Back City Water and Sewer

• Large Lots

• 38 POH - $3,950 Shell Value

• Park could use landscaping improvements• Homes are older models; some may need

renovations• Seller’s books and records are limited

KNOWN ISSUES


LOT RENT: $210-250 ($216 average)

POH (NOT INCLUDING LOT RENT): $212

TOTAL PRICE: $1,650,000

DOWN PAYMENT: 25% / $412,500

TOTAL PADS: 144

PRICE PER PAD: $11,500

PARCEL SIZE: ± 25.36 acres (total two parks)

FINANCIAL OVERVIEW / INFRASTRUCTURE

INFRASTRUCTURE Country Estates MHC N. Park Manor MHC Number of Spaces 58 81 Number of Park‐Owned 10 28 Vacant Pads 24 40 Number of Vacant Park‐Owned 8 9 Single‐Wide Homes N/A N/A Double‐Wide Homes N/A N/A Number of Lot Renters 24 13 Homes Used for Storage 0 0

Road Type Paved Paved Flood Plane No No Topography Flat Flat Parking Spaces 2/1 2/1 Mowing Responsibilities Landlord Landlord Other Amenities N/A N/A


COMPETITIVE RENT COMPSPHOTO PARK NAME

# OF PADS

LOT RENT

COMP DATE

COUNTY ESTATES MHPMACON, GABIBB COUNTY

58 $210 2017

NORTH PARK MANOR MHPMACON, GABIBB COUNTY

81 $250 2017

1SKYVIEW MHPMACON, GABIBB COUNTY

150 $250 2017

2AVALON MHPMACON, GABIBB COUNTY

130 $285 2017

PHOTO PARK NAME# OF PADS

LOT RENT

COMP DATE

3CROSSWINDS/ANSLEY MHPMACON, GABIBB COUNTY

100 $300 2017

4WESTWOOD MHPMACON, GABIBB COUNTY

262 $310 2017

5FOREST PLACE MHPMACON, GABIBB COUNTY

200 $325 2017


COMPETITIVE RENT COMPS MAP


COUNTRY ESTATES MHP - PROPERTY DESCRIPTIONTHE OFFERING

PROPERTY ADDRESS: 6382 Thomaston RoadMacon, GA 31220

COUNTY: Bibb

PARCEL NUMBER: I007-0013

SITE DESCRIPTION

# OF PADS: 58

TOTAL LAND AREA: ±20 acres

POH / LEASE OPTION HOMES: 10 POH / None

ZONING: A - Agricultural District

MECHANICAL

WATER: City Water and SewerBill Back

ELECTRIC: 100 / 200 AMP

COUNTRY ESTATES MOBILE HOME PARK | 10MAXWELL BAKER/404-442-2807/[email protected]

GLENN ESTERSON/423-483-0492/[email protected]

COUNTRY ESTATES MHP - AERIAL MAP



COUNTRY ESTATES MHP - RENT ROLLUnit

Owners Unit #

Park Name Unit Type Size Year Notes Tenant CAM Lot Rent Home Rent Rent Annual Rent

1 Lot #01 Country Estates Lot Rent Lot Renter - HO Sanchez, Guaadelupe 40$ 210$ 210.00$ 2,520$ 2 Lot #02 Country Estates Lot Rent Lot Renter - HO Figueroa, Aidee 40$ 210$ 210.00$ 2,520$ 3 Lot #03 Country Estates Vacant POH 2bd/1ba - POH fair Vacant ‐$ ‐$ 4 Lot #04 Country Estates Lot Rent Lot Renter - HO Avila, Osman 40$ 210$ 210.00$ 2,520$ 5 Lot #05 Country Estates POH 1bd/1ba - POH / Office1983 fair Office ‐$ ‐$ 6 Lot #06 Country Estates Lot Rent Lot Renter - HO Sanchez, Jose 40$ 210$ 210.00$ 2,520$ 7 Lot #07 Country Estates Lot Rent Lot Renter - HO Jaimes, Julio 40$ 210$ 210.00$ 2,520$ 8 Lot #08 Country Estates Vacant Lot Lot Vacant ‐$ ‐$ 9 Lot #09 Country Estates Vacant Lot Lot Vacant ‐$ ‐$ 10 Lot #10 Country Estates Vacant Lot Lot Vacant ‐$ ‐$ 11 Lot #11 Country Estates Lot Rent Lot Renter - HO Garcia, Elvin 40$ 210$ 210.00$ 2,520$ 12 Lot #12 Country Estates Vacant POH 2bd/2ba - POH fair Vacant ‐$ ‐$ 13 Lot #13 Country Estates Lot Rent Lot Renter - HO Steel, Andrew 40$ 210$ 210.00$ 2,520$ 14 Lot #14 Country Estates Vacant Lot Lot Vacant ‐$ ‐$ 15 Lot #15 Country Estates Vacant Lot Lot Vacant ‐$ ‐$ 16 Lot #16 Country Estates Vacant POH 2bd/1ba - POH fair Vacant ‐$ ‐$ 17 Lot #17 Country Estates Vacant Lot Lot Vacant ‐$ ‐$ 18 Lot #18 Country Estates Vacant Lot Lot Vacant ‐$ ‐$ 19 Lot #19 Country Estates Lot Rent Lot Renter - HO Garcia, Eugenia 40$ 210$ 210.00$ 2,520$ 20 Lot #20 Country Estates Vacant Lot Lot Vacant ‐$ ‐$ 21 Lot #21 Country Estates Vacant Lot Lot Vacant ‐$ ‐$ 22 Lot #22 Country Estates Vacant Lot Lot Vacant ‐$ ‐$ 23 Lot #23 Country Estates Vacant Lot Lot Vacant ‐$ ‐$ 24 Lot #24 Country Estates Lot Rent Lot Renter - HO Williams, Dustin 40$ 210$ 210.00$ 2,520$ 25 Lot #25 Country Estates Lot Rent Lot Renter - HO Figueroa, Aidee 40$ 210$ 210.00$ 2,520$ 26 Lot #26 Country Estates Lot Rent Lot Renter - HO Hernandez, Salvador 40$ 210$ 210.00$ 2,520$



COUNTRY ESTATES MHP - RENT ROLLUnit

Owners Unit #


27 Lot #27 Country Estates Lot Rent Lot Renter - HO Fuller, Lori 40$ 210$ 210.00$ 2,520$ 28 Lot #28 Country Estates Vacant Lot Lot Vacant ‐$ ‐$ 29 Lot #29 Country Estates Lot Rent Lot Renter - HO Campbell, Theresa 40$ 210$ 210.00$ 2,520$ 30 Lot #30 Country Estates Vacant POH 2bd/2ba - POH poor Vacant ‐$ ‐$ 31 Lot #31 Country Estates Vacant Lot Lot Vacant ‐$ ‐$ 32 Lot #32 Country Estates Lot Rent Lot Renter - HO Guzman, Alberto 40$ 210$ 210.00$ 2,520$ 33 Lot #33 Country Estates Vacant Lot Lot Vacant ‐$ ‐$ 34 Lot #34 Country Estates Lot Rent Lot Renter - HO Fuller, Acie 40$ 210$ 210.00$ 2,520$ 35 Lot #35 Country Estates Vacant Lot Lot Vacant ‐$ ‐$ 36 Lot #36 Country Estates Vacant Lot Lot Vacant ‐$ ‐$ 37 Lot #37 Country Estates Lot Rent Lot Renter - HO Martinez, Maria 40$ 210$ 210.00$ 2,520$ 38 Lot #38 Country Estates Lot Rent Lot Renter - HO Hernandez, Abelardo 40$ 210$ 210.00$ 2,520$ 39 Lot #39 Country Estates Vacant Lot Lot Vacant ‐$ ‐$ 40 Lot #40 Country Estates Vacant POH 2bd/1ba - POH 1978 fair Vacant ‐$ ‐$ 41 Lot #41 Country Estates Lot Rent Lot Renter - HO Lee, Billy 40$ 210$ 210.00$ 2,520$ 42 Lot #42 Country Estates Vacant Lot Lot Vacant ‐$ ‐$ 43 Lot #43 Country Estates Vacant Lot Lot Vacant ‐$ ‐$ 44 Lot #44 Country Estates Lot Rent Lot Renter - HO Bauer, Duane 40$ 210$ 210.00$ 2,520$ 45 Lot #45 Country Estates RTO - POH 2bd/1ba - POH / RTO 1972 fair Vyncke, Glenda 70$ 250$ 145$ 395.00$ 4,740$ 46 Lot #46 Country Estates Vacant POH 2bd/1ba - POH 1986 poor Vacant ‐$ ‐$ 47 Lot #47 Country Estates Lot Rent Lot Renter - HO Capilla, Simon 40$ 210$ 210.00$ 2,520$ 48 Lot #48 Country Estates Vacant POH 2bd/1ba - POH poor Vacant ‐$ ‐$ 49 Lot #49 Country Estates Vacant Lot Lot Vacant ‐$ ‐$ 50 Lot #50 Country Estates Vacant Lot Lot Vacant ‐$ ‐$ 51 Lot #51 Country Estates Lot Rent Lot Renter - HO Garcia, Fabian 40$ 210$ 210.00$ 2,520$ 52 Lot #52 Country Estates Lot Rent Lot Renter - HO Holloway, Kathryn 40$ 210$ 210.00$ 2,520$ 53 Lot #53 Country Estates Lot Rent Lot Renter - HO Sandoval, Israel 40$ 210$ 210.00$ 2,520$ 54 Lot #54 Country Estates Vacant Lot Lot Vacant ‐$ ‐$ 55 Lot #55 Country Estates Lot Rent Lot Renter - HO Perez-Velazquez, Arceli 40$ 210$ 210.00$ 2,520$ 56 Lot #56 Country Estates Vacant Lot Lot Vacant ‐$ ‐$ 57 Lot #57 Country Estates Vacant Lot Lot Vacant ‐$ ‐$ 58 Lot #58 Country Estates Vacant POH 2bd/1ba - POH fair Vacant ‐$ ‐$



COUNTRY ESTATES MHP - SCHOOLS, WALMART, MOBILE HOME SUPPLY



COUNTRY ESTATES MHP - DEMOGRAPHICS1 MILE 3 MILES 5 MILES

POPULATION

2022 PROJECTION 3,007 14,893 48,017

2017 ESTIMATE 3,134 15,597 50,152

2010 CENSUS POPULATION 3,280 15,309 50,983

HOUSEHOLDS

2022 HH PROJECTION 1,248 6,339 19,917

2017 HH ESTIMATE 1,248 6,369 19,999

2010 HH CENSUS 1,270 6,038 19,666

2017 ESTIMATED POPULATION BY RACE

WHITE 50.4% 60.8% 49.1%

BLACK OR AFRICAN AMERICAN 38.2% 31.7% 44.6%

OTHER 11.4% 7.5% 6.3%

INCOME

2017 ESTIMATED AVERAGE HH INCOME $69,521 $87,761 $80,727

2017 ESTIMATED MEDIAN HH INCOME $58,725 $65,407 $59,484

2017 ESTIMATED PER CAPITA INCOME $27,681 $35,916 $32,422

AGE

MEDIAN AGE 32.6 39.2 36.8



NORTH PARK MANOR MHP - PROPERTY DESCRIPTIONTHE OFFERING

PROPERTY ADDRESS: 8410 Hawkinsville Rd. #2 Macon, GA 31216

COUNTY: Bibb

PARCEL NUMBER: Q150-0043

SITE DESCRIPTION

# OF PADS: 81

TOTAL LAND AREA: ± 5.36 acres

POH / LEASE OPTION HOMES: 28 / None

ZONING: PDR - Planned Development Residential

MECHANICAL

WATER: City Water and SewerBill Back

ELECTRIC: 100 / 200 AMP

NORTH PARK MANOR MOBILE HOME PARK | 16MAXWELL BAKER/404-442-2807/[email protected] ESTERSON/423-483-0492/[email protected]

NORTH PARK MANOR MHP - AERIAL MAP


NORTH PARK MANOR MHP - RENT ROLLUnit

Owners Unit #


59 Lot #01 North Park Manor MHP Vacant Lot Trash Enclosure Trash Enclosure ‐$ ‐$ 60 Lot #02 North Park Manor MHP POH Office ‐$ ‐$ 61 Lot #03 North Park Manor MHP Vacant POH 3bd/2ba ‐ POH 1990 poor Vacant ‐$ ‐$ 62 Lot #04 North Park Manor MHP RTO - POH 3bd/2ba ‐ POH / RTO 1996 good Jordan, Rodriquez $ 70 $ 250 $ 310 560.00$ 6,720$ 63 Lot #05 North Park Manor MHP Vacant Lot Lot Vacant ‐$ ‐$ 64 Lot #06 North Park Manor MHP Vacant Lot Lot Vacant ‐$ ‐$ 65 Lot #07 North Park Manor MHP Vacant Lot Lot Vacant ‐$ ‐$ 66 Lot #08 North Park Manor MHP POH 2bd/2ba ‐ POH 1986 fair Robbins, Billy $ 60 $ 250 $ 230 480.00$ 5,760$ 67 Lot #09 North Park Manor MHP Vacant Lot Lot Vacant ‐$ ‐$ 68 Lot #10 North Park Manor MHP Vacant Lot Lot Vacant ‐$ ‐$ 69 Lot #11 North Park Manor MHP Lot Rent Lot Renter ‐ HO Whitley, Lori $ 70 $ 250 250.00$ 3,000$ 70 Lot #12 North Park Manor MHP RTO - POH 3bd/2ba ‐ POH / RTO 1991 good Corley, Wanda $ 40 $ 250 $ 293 543.00$ 6,516$ 71 Lot #13 North Park Manor MHP Vacant POH 2bd/2ba ‐ POH 1970 poor Vacant ‐$ ‐$ 72 Lot #14 North Park Manor MHP POH 2bd/2ba ‐ POH 1988 fair Smith, Kama $ 55 $ 250 $ 230 480.00$ 5,760$ 73 Lot #15 North Park Manor MHP Vacant POH Storage ‐ POH 1963 poor storage ‐$ ‐$ 74 Lot #16 North Park Manor MHP Vacant Lot Lot Vacant ‐$ ‐$ 75 Lot #17 North Park Manor MHP Vacant Lot Lot Vacant ‐$ ‐$ 76 Lot #18 North Park Manor MHP POH 2bd/1ba ‐ POH 1990 good Mixon, Tarey $ 55 $ 250 $ 230 480.00$ 5,760$ 77 Lot #19 North Park Manor MHP Vacant Lot Lot Vacant ‐$ ‐$ 78 Lot #20 North Park Manor MHP Vacant Lot Lot Vacant ‐$ ‐$ 79 Lot #21 North Park Manor MHP POH 2bd/2ba ‐ POH 1986 good Trayner, David $ 60 $ 250 $ 230 480.00$ 5,760$ 80 Lot #22 North Park Manor MHP Lot Rent Lot Renter ‐ HO Espejo, Alvin $ 60 $ 215 215.00$ 2,580$ 81 Lot #23 North Park Manor MHP Vacant Lot Lot Vacant ‐$ ‐$ 82 Lot #24 North Park Manor MHP Vacant Lot Lot Vacant ‐$ ‐$ 83 Lot #25 North Park Manor MHP Vacant Lot Lot Vacant ‐$ ‐$ 84 Lot #26 North Park Manor MHP RTO - POH 2bd/1ba ‐ POH / RTO 1973 fair Ridley, JoAnn $ 70 $ 250 $ 335 585.36$ 7,024$ 85 Lot #27 North Park Manor MHP Vacant Lot Lot Vacant ‐$ ‐$ 86 Lot #28 North Park Manor MHP Vacant Lot Lot Vacant ‐$ ‐$ 87 Lot #29 North Park Manor MHP Vacant Lot Lot Vacant ‐$ ‐$ 88 Lot #30 North Park Manor MHP RTO - POH 3bd/1.5ba ‐ POH / RTO 1984 fair Hales, Katelan $ 70 $ 250 $ 229 479.17$ 5,750$

89 Lot #31 North Park Manor MHP RTO - POH 2bd/1ba ‐ POH / RTO 1983 good Williams, James "Ryan" $ 70 $ 250 $ 208 458.34$ 5,500$ 90 Lot #32 North Park Manor MHP Vacant Lot Lot Vacant ‐$ ‐$ 91 Lot #33 North Park Manor MHP POH 3bd/2ba ‐ POH 2000 good Simmons, Latisha $ 55 $ 250 $ 230 480.00$ 5,760$ 92 Lot #34 North Park Manor MHP POH 2bd/2ba ‐ POH 1988 good Hill, Glenda $ 70 $ 250 $ 130 380.00$ 4,560$ 93 Lot #35 North Park Manor MHP RTO - POH 3bd/2ba ‐ POH / RTO 1999 good Riley, Noah $ 60 $ 250 $ 246 495.84$ 5,950$ 94 Lot #36 North Park Manor MHP Vacant Lot Lot Vacant ‐$ ‐$ 95 Lot #37 North Park Manor MHP Vacant Lot Lot Vacant ‐$ ‐$ 96 Lot #38 North Park Manor MHP POH 2bd/1ba ‐ POH 1983 fair Ellis, Vincent $ 55 $ 250 $ 150 400.00$ 4,800$ 97 Lot #39 North Park Manor MHP Vacant Lot Lot Vacant ‐$ ‐$ 98 Lot #40 North Park Manor MHP Vacant Lot Lot Vacant ‐$ ‐$ 99 Lot #41 North Park Manor MHP Lot Rent Lot Renter ‐ HO Dowdy, Caroly $ 60 $ 215 215.00$ 2,580$ 100 Lot #42 North Park Manor MHP Lot Rent Lot Renter ‐ HO Sadler, Patsy $ 60 $ 215 215.00$ 2,580$ 101 Lot #43 North Park Manor MHP Lot Rent Lot Renter ‐ HO Turner, Andrew $ 60 $ 215 215.00$ 2,580$ 102 Lot #44 North Park Manor MHP Vacant POH 2bd/1ba ‐ POH 1984 poor Vacant ‐$ ‐$ 103 Lot #45 North Park Manor MHP Vacant Lot Lot Vacant ‐$ ‐$


NORTH PARK MANOR MHP - RENT ROLLUnit

Owners Unit #


104 Lot #46 North Park Manor MHP Lot Rent Lot Renter ‐ HO Broughton, Daniel $ 70 $ 250 250.00$ 3,000$ 105 Lot #47 North Park Manor MHP Lot Rent Lot Renter ‐ HO Swinford, Mike $ 60 $ 215 215.00$ 2,580$ 106 Lot #48 North Park Manor MHP POH 3bd/1ba ‐ POH 1978 poor Lanthrip, Joshua $ 55 $ 250 $ 150 400.00$ 4,800$ 107 Lot #49 North Park Manor MHP Vacant POH 3bd/2ba ‐ POH fair Vacant ‐$ ‐$ 108 Lot #50 North Park Manor MHP Vacant Lot Lot Vacant ‐$ ‐$ 109 Lot #51 North Park Manor MHP Vacant POH 2bd/1ba ‐ POH poor Vacant ‐$ ‐$ 110 Lot #52 North Park Manor MHP Vacant Lot Lot Vacant ‐$ ‐$ 111 Lot #53 North Park Manor MHP Vacant Lot Lot Vacant ‐$ ‐$ 112 Lot #54 North Park Manor MHP Vacant Lot Lot Vacant ‐$ ‐$ 113 Lot #55 North Park Manor MHP Vacant Lot Lot Vacant ‐$ ‐$ 114 Lot #56 North Park Manor MHP Vacant Lot Lot Vacant ‐$ ‐$ 115 Lot #57 North Park Manor MHP POH 3bd/2ba ‐ POH 1992 good Burch, David $ 60 $ 250 $ 290 540.00$ 6,480$ 116 Lot #58 North Park Manor MHP Lot Rent Lot Renter ‐ HO Warner, Stephen $ 70 $ 250 250.00$ 3,000$

117 Lot #59 North Park Manor MHP Lot Rent Lot Renter ‐ HONewborn, Kendra (David) $ 60 $ 215 215.00$ 2,580$

118 Lot #70 North Park Manor MHP Vacant POH 3bd/2ba ‐ POH 1985 poor Vacant ‐$ ‐$ 119 Lot #71 North Park Manor MHP Vacant Lot Lot Vacant ‐$ ‐$ 120 Lot #72 North Park Manor MHP Vacant Lot Lot Vacant ‐$ ‐$ 121 Lot #73 North Park Manor MHP Vacant Lot Lot Vacant ‐$ ‐$ 122 Lot #74 North Park Manor MHP Lot Rent Lot Renter ‐ HO Vaughn, Jeff $ 60 $ 215 215.00$ 2,580$ 123 Lot #75 North Park Manor MHP Vacant Lot Lot Vacant ‐$ ‐$ 124 Lot #76 North Park Manor MHP Vacant Lot Lot Vacant ‐$ ‐$ 125 Lot #77 North Park Manor MHP Vacant Lot Lot Vacant ‐$ ‐$ 126 Lot #78 North Park Manor MHP Vacant POH 2bd/2ba ‐ POH 1988 poor Vacant ‐$ ‐$ 127 Lot #79 North Park Manor MHP POH 2bd/2ba ‐ POH 1972 poor Troutman, Alec $ 55 $ 250 $ 50 300.00$ 3,600$ 128 Lot #80 North Park Manor MHP Lot Rent Lot Renter ‐ HO Whitley, Lori $ 70 $ 250 250.00$ 3,000$ 129 Lot #81 North Park Manor MHP Vacant Lot Lot Vacant ‐$ ‐$ 130 Lot #82 North Park Manor MHP POH 3bd/2ba ‐ POH 1999 good Neal, Sunny $ 60 $ 250 $ 190 440.00$ 5,280$ 131 Lot #83 North Park Manor MHP POH 2bd/2ba ‐ POH 1979 good Knight, Ronnie $ 60 $ 250 $ 150 400.00$ 4,800$ 132 Lot #84 North Park Manor MHP Vacant Lot Lot Vacant ‐$ ‐$ 133 Lot #85 North Park Manor MHP Lot Rent Lot Renter ‐ HO Olmo, Cristina $ 70 $ 250 250.00$ 3,000$ 134 Lot #86 North Park Manor MHP Vacant Lot Lot Vacant ‐$ ‐$ 135 Lot #87 North Park Manor MHP Vacant Lot Lot Vacant ‐$ ‐$ 136 Lot #88 North Park Manor MHP Vacant POH 3bd/2ba ‐ POH poor Vacant ‐$ ‐$ 137 Lot #89 North Park Manor MHP Lot Rent Lot Renter ‐ HO Dart, Russell $ 60 $ 215 215.00$ 2,580$ 138 Lot #90 North Park Manor MHP Vacant Lot Lot Vacant ‐$ ‐$ 139 Lot #91 North Park Manor MHP Vacant Lot Lot Vacant ‐$ ‐$ 140 524 Grosso 524 MHP Duplex 2bd/1ba 524 Grosso Ave, MM. Tolbert 340$ ‐$ 340.00$ 4,080$ 141 526 Grosso 524 MHP Duplex 2bd/1ba 526 Grosso Ave, MA. Manson 375$ ‐$ 375.00$ 4,500$ 142 355 Forrest 355 MHP Vacant SFH 2bd/1ba 355 Forrest Ave, Vacant ‐$ ‐$ ‐$ 143 1326 Dewey 355 MHP SFH 3bd/1ba 1326 Dewey St, MP. Smith 525$ ‐$ 525.00$ 6,300$ 144 115 Tinker 355 MHP SFH 3bd/1ba 115 Tinker Blve, WJ. Brown 595$ ‐$ 595.00$ 7,140$


NORTH PARK MANOR MHP - SCHOOLS, WALMART, MOBILE HOME SUPPLY


NORTH PARK MANOR MHP - DEMOGRAPHICS1 MILE 3 MILES 5 MILES

POPULATION

2022 PROJECTION 165 4,559 44,891

2017 ESTIMATE 160 4,324 42,414

2010 CENSUS POPULATION 227 4,373 39,765

HOUSEHOLDS

2022 HH PROJECTION 68 1,828 18,047

2017 HH ESTIMATE 64 1,708 16,842

2010 HH CENSUS 87 1,675 15,458

2017 ESTIMATED POPULATION BY RACE

WHITE 76.0% 59.2% 52.9%

BLACK OR AFRICAN AMERICAN 13.8% 33.4% 38.5%

OTHER 10.2% 7.4% 8.6%

INCOME

2017 ESTIMATED AVERAGE HH INCOME $52,860 $63,036 $55,577

2017 ESTIMATED MEDIAN HH INCOME $46,800 $54,197 $46,466

2017 ESTIMATED PER CAPITA INCOME $21,020 $24,997 $22,203

AGE

MEDIAN AGE 37.8 38.1 36.6


Maxwell R. Baker joined Lee & Associates in 2014 as a commercial real estate broker specializing in purchasing and sellingmobile home communities in the Southeast. His family has been involved with mobile home parks for more than 15 years,and he has been a part of management, rehabilitation, and disposing mobile home parks since his family purchased theirfirst park. Max is also Founder and President of The MHP Broker offering mobile home park owners and investors brokerageservices, free mobile home park analyses, in-depth market research, and mobile home park financing consultation.

In 2014 and 2015, Max completed approximately 80% of all Georgia manufactured home community transactions andhas also closed transactions in other Southeast states including Tennessee, Alabama, North Carolina, South Carolinaand Florida. Max's core competencies include structuring and negotiating complicated transactions, owner financing,research and outsourcing, and his "deal-making" capabilities.

Max, along with his expert team of researchers, compile and maintain the industryÕs most comprehensive database ofmobile home community data in the Southeast. Max and The MHP Broker are recognized as a trusted advisor in this rapidlygrowing multifamily, affordable housing sector.

¥ Georgia State University - B.A. Real Estate¥ United States Marine Corps

¥ Atlanta Commercial Board of Realtors¥ Real Estate Broker - Georgia¥ Georgia Manufactured Housing Association (GMHA) member¥ Southeast Community Owners (SECO) member

Biography

Education

Memberships & Associations

3500 Lenox RoadSuite 200Atlanta, GA 30326

T [email protected]

Partial Client ListBeal BankColony CapitalMarket Street CapitalAffordable Housing Communities Inc. Capital Square Holdings LLCThe Reach GroupMidland Loan ServicesHartman Wright Group, LLC Affordable Communities Group, LLC

PrincipalMAXWELL BAKER

ADVISOR BIO // MOBILE HOME PARKS

ADVISOR BIO - MAXWELL BAKER

ADVISOR BIOS| 22MAXWELL BAKER/404-442-2807/[email protected] ESTERSON/423-483-0492/[email protected]

Glenn Esterson is a Senior Director with Lee & Associates, specializing in investment grade mobile home communities.During his fifteen years in the commercial real estate business, Mr. Esterson has successfully owned and operated mobilehome parks as well as assisting his clients in the sales, leasing and management of mobile home communities throughoutthe southeastern U.S. markets.

Early in his career, Mr. Esterson was working on apartment sales, condo-conversions and property management. Fromthere, Mr. Esterson transitioned into investment sales of multi-tenanted small business parks throughout the Southeast andmid-Atlantic. He and his team has transacted in nearly every southeastern state and holds multiple real estate licenses.

Mr. Esterson works exclusively with private investors as their primary real estate investment advisor for their acquisition anddisposition needs. Mr. Esterson provides clients with expertise in asset management, portfolio analysis, site selection, leaseadvisory and consulting. Mr. Esterson has executed over 200 sale or lease transactions over his career with a transactionalvolume in excess of $100 million.

¥ 2016-Present Lee & Associates, Atlanta - Senior Director Mobile Home Communities¥ 2013-2016 Marcus & Millichap, National Office & Industrial Properties Group¥ 2003-2013 Esterson Management Solutions, Inc. Ð Founding Member¥ 2001-2005 American Commercial Properties, Director of Multi-Family Investment

¥ Sierra Nevada CollegeBachelor of Arts

Profile

Experience

Education

3500 Lenox RoadSuite 200Atlanta, GA 30326

T 404.442.2825C [email protected]

Senior DirectorGLENN ESTERSON

ADVISOR BIO // MOBILE HOME PARKS

ADVISOR BIO - GLENN ESTERSON

ADVISOR BIOS| 23MAXWELL BAKER/404-442-2807/[email protected] ESTERSON/423-483-0492/[email protected]

The information contained in this Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Lee & Associates and should not be made available to any other person or entity without the written consent of Lee & Associates. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Lee & Associates has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Lee & Associates has not verified, and will not verify, any of the information contained herein, nor has Lee & Associates conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.

NON-ENDORSEMENT NOTICELee & Associates is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Lee & Associates, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Lee & Associates, and is solely included for the purpose of providing tenant lessee information.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONTACT THE LEE & ASSOCIATES AGENT FOR MORE DETAILS.

EXCLUSIVELY LISTEDBIRMINAAL

MAXWELL BAKER / PRINCIPALPHONE: 404.442.2807 | [email protected] & ASSOCIATES | ATLANTA 3500 LENOX ROAD, SUITE 200 | ATLANTA, GA 30326

Documents

BIBB COUNTY TWO-PARK MANUFACTURED HOME COMMUNITY PORTFOLIO …images1.loopnet.com/d2/jdIouLJnT3yGwCpk2HZUM2gDT_Qu1tY1kv8rPw-1LKU/... · We welcome the opportunity to provide you with