FOR SALE Lakeside Mobile Home & RV Park Klamath Falls, Oregon

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1 FOR SALE Lakeside Mobile Home & RV Park Klamath Falls, Oregon Description: Lakeside Mobile Home & RV Park is a 60 unit Park located on Hwy. 97, a major thoroughfare in central Oregon. The Park is approximately ½ mile north of the Klamath Falls city limits. The property consists of 39 mobile home spaces, 16 of which are occupied by Park owned units; 23 spaces are occupied by homes owned by tenants. There are 21 RV spaces in the Park, all of which are rented on a monthly basis. The Park is nearly 100% occupied and enjoys a good reputation in the community. A number of improvements have been recently made to the Park including the construction of 5 new RV spaces which are now available for rent. On-going improvements to the Park s electrical service are in process, as well as improvements to the Park s septic system. The Park is served by a private well (system recently updated) and a septic system for waste disposal. The Park has a small (± 1,000 sq. ft.) storage building in the center which could be converted into a manager s office, laundry facilities, tenant storage, etc. There is a manager s residence on site with a small office on the ground floor. Price: $1,595,000..(Cap Rate: 8.32%) Alan Wells, CCIM Commercial Associates 202 NW 6 th Street, Corvallis, OR (541) Fax: (541) alan@commercialassociates.org The information contained herein was secured from sources deemed reliable but is not guaranteed by broker and is subject to price change, prior sale, error or omission, correction or withdrawal without notice. aw\ mkt\ Lakeside Mobile Home Park..

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7 INCOME / EXPENSE SUMMARY Date: 10/26/2018 LOCATION: Lakeside Mobile Home & RV Park 4850 Wocus Rd. Klamath Falls, OR ANNUAL PROPERTY OPERATING INFORMATION % Monthly Income Expense Comments SCHEDULED GROSS POTENTIAL RENTAL INCOME: Mobile Home & RV Spaces $19,197 $230,364 Per Current Asking 100% occupancy Tenant Electrical Charge Reimbursements $1,719 $20,628 Current Shared Meter Reimbursements Estimated Tenant water charges $585 $7,020 Tenant Water $15 per space $21,501 $258,012 RV space tenants are not charged for water VACANCY ALLOWANCE Mobile Home & RV Spaces 10.42% ($2,000) ($24,000) As per Year to Date P&L Annual Annual OTHER STORAGE INCOME Late Fees $1,200 Estimated TOTAL GROSS INCOME: % $19,601 $235,212 GROSS OPERATING INCOME: % $235,212 LESS OPERATING EXPENSES: ADVERTISING / MARKETING: -0.85% ($2,000) Estimated; none currently CREDIT CARD & BANK CHARGES -0.59% ($1,388) As per Year to Date P&L PROPERTY INSURANCE -2.14% ($5,037) per current contract PROPERTY TAXES (real & personal) -2.70% ($6,347) Current Assessment REPAIRS, SERVICES AND MAINTENANCE -7.44% ($17,500) Estimated; consistent w/ historical PROFESSIONAL FEES -0.64% ($1,500) Estimated; legal, acct., etc. PROPERTY MANAGEMENT: Off-Site: 6.00% ($9,000) Per current contract On-Site: Manager -9.18% ($21,600) $1,800 per month base salary, worker's comp, taxes, etc plus free residence and utilities health insurance reinbursement -1.66% ($3,900) $325 per month OFFICE MAINTENANCE & SUPPLIES -0.74% ($1,750) Estimated TELEPHONE Land line / cell phone & internet -1.02% ($2,400) Estimated UTILITIES Natural Gas -0.17% ($400) As per Year to Date P&L Electricity 0.00% $0 Included above Tenant Meters % ($26,698) As per Year to Date P&L Park Owned Units, common areas, mgmt. residence 0.00% $0 combined with figure above Water & Sewer 0.00% $0 Not Applicable. Cable & Internet 0.00% $0 Tenant's pay TRASH REMOVAL -1.27% ($2,998) Estimated, consistent w/ current TOTAL OPERATING EXPENSES: 43.59% ($102,518) NET OPERATING INCOME: $132,694 Loan Payments ($74,552) TOTAL CASH FLOW $58,142 aw\ mkt\ Lakeside Mobile Home Park..

8 INVESTMENT SUMMARY Date: 10/26/2018 ASKING PRICE: $1,595,000 Cap Rate 8.32% Total Cash Flow $58,142 Cash Investment Required $558,250 Investment Return 10.41% FINANCING: (estimated terms, new loan) Loan Amount: $1,036,750 Loan to Value Ratio: 65% Interest Rate 5.25% Amortization Period 25 years Monthly Payment $6,213 Term 10 years REAL ESTATE TAX INFORMATION ASSESSED VALUES: Market Values Property: Acreage Land: Improv. Total Assd. Values Tax Description Zoning Tax Lot 1400 ( real property) 4.84 $138,420 $734,400 $872,820 $430,950 $5,031 MH Park R-2 Personal Property (homes owned by Park) $1,316 Totals 4.84 $138,420 $734,400 $872,820 $430,950 $6,347 aw\ mkt\ Lakeside Mobile Home Park..