Investment Highlights

• Columbia, SC MSA / Lexington County / 38 Mobile Home Units In a Two-Park Adjacent Portfolio. Within a Two-Mile-Radius of a Walmart Super Center and Lowe's Home Improvement Center. Publix, Walgreens, Dollar General, Starbucks, Food Lion, and both a High School and Middle School are also within several miles. Lexington is a rolling footprint for the Columbia MSA for rooftops, commercial, and industry. RENT PUSH IS IN PROGRESS TO $1,000 PER UNIT RESPONDING TO COSTAR ANALYTICS. STILL MEAT ON THE BONE HERE. I WILL PRESENT ANY AND ALL OFFERS. SELLER FINANCING MAY BE CONSIDERED W/ HALF DOWN, POFs, AND ACCELERATION CLAUSE W/ PERSONAL GUARANTEE TO PAY FULL BALANCE. Estimated $285,000 NOI, equating to $23,780+ per month after a rent push. 7+/-% Cap Rate. NOI has been as high as $27,000 per month, but taking into consideration some Capex, we estimate it to be low. Rent Comps in the area will allow going much higher. The caveat is any asset can have fluctuations, but this is a snapshot. CREOP Flipbook: https://www.flipsnack.com/A5A986CC5A8/hidden-oaks-southern-pines-mhp-lexington-sc/full-view.html
• Correspondingly this combination of assets will maintain occupancy and vibrancy long-term based on the pattern analysis of past performance and future projections. The components from numerous data sources show rapid absorption of housing units in Lexington with low vacancy and increasing rental rates. This points to additional rental pushes to expand NOI over time which is now occurring at $1,000 per unit but with some Capex during some unit turnover and infill.
• The Columbia MSA is in the center of the State of SC and includes the University of South Carolina and Fort Jackson Military Base, which trains a huge quotient of Army Soldiers and houses their respective families. As the State Capitol politics flows from here. Estimated $285,000 NOI, equating to $23,780+ per month after a rent push. 7+/-% Cap Rate. NOI has been as high as $27,000 per month, but taking into consideration some Capex, we estimate it to be low. Rent Comps in the area will allow going much higher. The caveat is any asset can and will have fluctuations, but this is a snapshot. ABSORPTION OF UNITS FULL BUT WITH SOME EBB & FLOW TO FACILITATE HIGHER RENT AT RETENANTING.
• SNAPSHOT COMMENT FROM MANAGEMENT IN JUNE 2024 The current rent roll is attached. When the park was purchased last year, the rents totaled $23,260 monthly or $267,120. The original average rents were $621.50. The new total is $35,044.14 monthly or approximately $420,529.68. The average rent is currently $850.00 but is increasing to $1,000. July/August Midmonth Reporting OWNER’S REPORT $35,044.14 GROSS RECEIPTS & $23,767.72 NOI AFTER EVERYTHING DEDUCTED. **THE KEY IS ALL ARE TRANSITIONING TO $900 TO $1,000 TO MEET MARKET METRICS, WITH THE ONE TENANT-OWNED HOME BUMPING FROM $300 TO $400 LOT RENT**