61 Space Senior Mobile Home Park For Sale - $1,250,000 Carefree Mobile Home Park

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1 61 Space Senior Mobile Home Park For Sale - $1,250,000 Carefree Mobile Home Park 350 Lee Avenue, Bullhead City, AZ Under $20,500 per site Big utility upside, water not currently metered and owner eating cable costs for tenants Master-metered electric 50 spaces, all direct billed electric and gas Only 73% occupancy, infill upside with large sites 20 doublewides, park can accommodate 10 more Newly paved roads and remodeled pool and clubhouse Management in place For Further Information Contact: John Sheedy Associate Broker Cell: Fax: jsheedy@parkbrokerage.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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4 Carefree Mobile Home Park Infill Upside, City Services, Great Views Senior MHP under $20,500 per space on city utilities Sales Price $1,250,000 Down Payment $375,000 Address/City 350 E Lee, Bullhead City Estimated Vacancy & Expense See Actual and Pro Forma Capitalization Rate 7.3% Total Parcel Size 5 Acres County Mohave Age 1968 Cash on Cash 10.6% No. Spaces 61 State Arizona Loan Cash, New Loan Total Return 14.5% Water City Sewer City Senior Park Price Per Site: $20, Property Information and Description: Located on a hill with views of the Colorado River and Laughlin, Carefree Mobile Home Park affords a buyer a stable incomeproducing property on city services with infill and utility pass-through upside. Park is currently only 73% occupied in a 85%+ market. Four homes that convey with sale will also help bring in additional income once rented. The park contains all the amenities needed to be fully occupied, a pool area and clubhouse with billiards and media will attract seniors as will paved streets and proximity to Laughlin, Vegas, Phoenix, and Southern California. Park also has tremendous mountain, river, and city views. There is also upside in utility billing. The park is currently not metered for water and tenants are being billed only for electricity and a flat fee for sewer. The park s owner is also incurring a large cost for cable television which is provided to each tenant. As cable begins being phased out in favor of satellite television and wireless television streaming this can be another expense that can be reduced and Broker recommends passing through some if not all of that cost in meantime. TENANTS ARE NOT AWARE PARK IS FOR SALE. PLEASE KEEP THIS LISTING CONFIDENTIAL. Rental Comparison Property Location Utilities Included in Rent Rent Carefree MHP Bullhead City Water, Trash, Cable $402 Longridge MHP Bullhead City Trash Only $435 Sunset Park Lake Havasu Water, Sewer, Trash $505 Kingman Ranch MHP Kingman Trash Only $375 LOAN INFORMATION: Broker anticipates a 30% down payment of $375,000 with a local bank and 4.75% interest with payments amortized over 30 years with a 8-10 year call. Monthly payments to be $51,648 NET INCOME $91,449 TOTAL ANNUAL PRINCIPAL $51,648 & INTEREST PAYMENT ESTIMATED ANNUAL PRE-TAX $39,801 CASH FLOW (SPENDABLE) PLUS PRINCIPAL REDUCTION YEAR 1 $14,752 TOTAL RETURN $54,553

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6 Lot Rent Type Rental Lot Rent Type Rental 1A $395 Permanent Trailer Tenant-Owned 34 $0 Singlewide Park-Owned Vacant 2 $ Doublewide Tenant-Owned 35 $0 Vac - Doublewide 3 $ Singlewide Tenant-Owned 36 $0 Vac Singlewide 4 $ Singlewide Tenant-Owned 37 $ Doublewide Park Owned Rental 5 $0 Singlewide Park-Owned Vacant 38 $ Doublewide Tenant-Owned 6 $ Doublewide Tenant-Owned 39 $ Doublewide Tenant-Owned 7 $ Doublewide Tenant-Owned 40 $ Doublewide Park Owned Rental 8 $ Singlewide Park Owned Rental 41 $ Doublewide Tenant-Owned 9 $ Singlewide Tenant-Owned 42 $ Doublewide Tenant-Owned 10 $ Singlewide Tenant-Owned 43 $ Doublewide Tenant-Owned 11 $ Singlewide Tenant-Owned 44 $ Doublewide Tenant-Owned 12 $ Singlewide Park Owned Rental 45 No Space 13A $ Permanent Trailer Tenant Owned 46 $0 Singlewide Park Owned Vacant 14 $ Doublewide Tenant-Owned 47 $ Seasonal Trailer Tenant-Owned 15 $ Singlewide Park-Owned Rental 48 $0 Vac Singlewide 16 $ Singlewide Tenant-Owned 49 $0 Vac Trailer 17 $ Doublewide Tenant-Owned 50 $ Doublewide Tenant-Owned 18 $ Permanent Trailer Tenant-Owned 51 $0 Vac Singlewide 19 $ Singlewide Tenant-Owned 52 $0 Vac Singlewide 20 $ Singlewide Tenant-Owned 53 $ Doublewide Tenant-Owned 21 $ Singlewide Tenant-Owned 54 $0 Vac -Doublewide 22 $ Singlewide Tenant-Owned 55 $0 Vac - Single 23 $ Singlewide Tenant Owned 56 $0 Doublewide Park Owned Vacant 24 $ Doublewide Tenant-Owned 57 $ Singlewide Tenant-Owned 25 $ Singlewide Tenant-Owned 58 $ Seasonal Trailer Tenant-Owned 26 $ Singlewide Park Owned Rental 59 $0 Vac-Doublewide 27 $ Singlewide Tenant-Owned 60 $ Doublewide Park Owned Rental 13B $ Permanent Trailer Park Owned Rental 64 $ Permanent Trailer Park Owned Rental 29 $ Singlewide Tenant-Owned 65 Vacant RV 30 $0 Vac- Singlewide 66 Vacant RV 31 $ Seasonal Trailer Tenant-Owned 33 $ Singlewide Tenant Owned 32 $0 Vac Singlewide

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