BALDWIN MOBILE HOME PARK

CONFIDENTIAL EXECUTIVEOFFERING MEMORANDUM

THE MHP BROKER | 678.932.0200 | [email protected] | WWW.THEMHPBROKER.COM

BALDWIN MOBILEHOME PARKDARLINGTON, SC

TABLE OFCONTENTSOFFERING OVERVIEW

BALDWIN MOBILE HOME PARK

ADVISOR BIOS

• Welcome Letter• Disclosure

• Executive Summary• Key Investment Considerations• Investment Highlights• Property Description / Infrastructure• Rent Roll / Inventory• Property Photos• Aerial Map• Demographics• Local Retail & Schools


WELCOME LETTER

INVESTMENT OPPORTUNITYWe welcome the opportunity to provide you with our in-depth overview of Baldwin Mobile

Home Park in Darlington, SC and its position in today’s market. We will give you our honest, no-holds-barred assessment of this 32-lot community, so you have 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 under-standing 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.

03

GUIDELINESOffers must be presented in writing and include:

PriceSource of capital and relevant experienceProposed schedule of due diligence and closingAmount of earnest moneyList of contingencies including committee approvals, possible 1031 exchanges, etc.

DISCLOSURE

04

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 The MHP Broker and should not be made available to any other person or entity without the written consent of The MHP Broker. 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. The MHP Broker 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, The MHP Broker has not verified, and will not verify, any of the information contained herein, nor has The MHP Broker 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 NOTICE

The MHP Broker 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 The MHP Broker, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of The MHP Broker, and is solely included for the purpose of providing tenant lessee information.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONTACT THE MHP BROKER AGENT FOR MORE DETAILS.

BALDWIN MOBILEHOME PARK

>VISIT www.THEMHPBROKER.com

MANAGING MEMBERO: 678.932.0200E: [email protected]

MAXWELL BAKER

3535 PEACHTREE RD. SUITE 520-1016,ATLANTA, GA 30326

THE MHP BROKER

ASSOCIATEO: 678.932.0200E: [email protected]

PAUL SCHAAF

O: 678.932.0200E: [email protected]

CRAIG NIELSONASSOCIATE

EXECUTIVESUMMARYINVESTMENT OPPORTUNITY

DARLINGTON, SC - The MHP Broker is pleased to present the opportunity to purchase Baldwin Mobile Home Park (MHP), a very stable 32-pad mobile home park located in Darlington, South Carolina. This community is conveniently located within 10 miles of I-20 and I-95, providing quick access to schools, hospitals, and retail.

The park is well-maintaned, and continues to deliver a dependable cash flow, with minor ownership responsibilities. Tenured residents enjoy a quiet and safe setting, and this community is serviced by city water, with each unit being individually-metered. Each lot utilizes its own septic system, and electricity and trash are directly billed to tenants. Occupancy is currently at 97%, with 26 Tenant-Owned Homes (TOH) and 5 Park-Owned Homes (POH).

We are offering the community at a 8% CAP on lot rent only. Current rents are approxiamately $50+ below market rent, offering new ownership an opportunity to increase value. We are asking investors to submit offers at, or above, $625,000 for the park.

05

LIST PRICE: $625,000934 High Hill Rd, Darlington, SC

32

25

0

97%

Avg. $165

±11.0

$19,531

Property Address:

Total Pads:

Lot Renters:

Vacant Lots:

Occupancy:

Lot Rent:

Acres:

Price Per Pad:


This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to the total number of lots or mobile home inventory are approximate. Buyer must verify the information and bears all risk for any inaccuracies. © 2021 The MHP Broker


06THE MHP BROKER | 678.932.0200 | [email protected] | WWW.THEMHPBROKER.COM

KEY INVESTMENT CONSIDERATIONS

NOTES

1. Potential for 3 lot expansion

Baldwin MHP 934 High Hill Rd, Darlington, SC

Total Lots: 32 Price Per Pad: $19,531 Seller Buyer

Asking Price: $625,000 Current Year 1

BASE LOT RENT INCOME2020

CurrentAnnualized Rent

RollAnnualized Rent Roll-

Lot Rent $61,380 $61,380 $61,380

Seller Current Vacant Lots at Market Rent 0 Buyer Yr. 1: 0 $0 $0 $0

Seller Current Vacant POH Lots at Market Rent1 Buyer Yr. 1: 0 $1,980 $0 $1,980

VACANT POH RENT AT MARKET RENT $0

CURRENT POH RENT $19,980

NOTE BALANCE (RTO) $15,810

GROSS POTENTIAL RENT INCOME (GPRI) $63,360 $61,380 $99,150

GROSS POTENTIAL INCOME (GPI) $63,360 $61,380 $99,150

Vacancy Rate Adjustment Seller Current: 3.13% Buyer Yr. 1: 0.00% $1,980 $0 $1,980

EFFECTIVE GROSS INCOME (EGI) $61,380 $61,380 $97,170EXPENSES CapEx POH Actual Park Year 1 Actual Gross

REAL ESTATE TAX Land $4,180 $4,473 $4,180

REAL ESTATE TAX POH $350 $350

INSURANCE Liability $750 $750 $750

INSURANCE POH's $1,000 $1,000

INSURANCE FloodINSURANCE WindINSURANCE

MANAGEMENT $8,300MAINTENANCE Park Only-Labor/Repairs/Supplies $1,500 $500 $500 $500 $1,000MAINTENANCE POH Labor/Repairs/Supplies $2,000 $2,000

WATER City (Direct Bill)SEWER Septic (1:1) $1,200 $1,200TRASH Direct Bill

ELECTRICITY Security Lights $480 $480 $480ROADS $2,700 $350 $350 $350

PEST CONTROL $100 $100 $100LANDSCAPE $270 $1,330 $1,330 $1,600

OFFICE SUPPLIESPHONE/CABLE/INTERNET

ADVERTISINGSECURITY

LEGALEVICTIONS $110 $110 $110

ACCOUNTING $167 $167 $167MISC

000

TOTAL EXPENSES $4,200 $5,430 $7,690 $16,393 $13,287

LOT EXPENSE RATIO 13% 27% 14%NOI $53,690 $44,987 $83,883

OTHER INCOME (Not Capitalized Income) Current Year 1POH Rents $19,980 $19,980POH Expense Seller 27.18% Buyer 33.00% $5,430 $6,593Other Income $0 $0

TOTAL OTHER INCOME $14,550 $13,387

PARK OWNED HOME / OTHER INCOME

TOTAL INCOME

Gross IncomeLot & POH

Gross Collected Lot Rent $61,380

Total Expenses $16,393 26.71% Exp. Ratio

NOI $44,987

CAP Rate 8.01%

Lot Value (NOI/CAP Rate) $561,635

POH Shell Value (6) $8,500.00 per Home $51,000

RTO Value 80% of Note Balance $12,648

Vacant Lot Value 0 per Lot $0

BUYER YEAR 1 VALUE 625,283$

*Only calculating lot rents and expenses. No POH income capitalized

Summary Valuation - BUYER YEAR 1

Electrical, Water, and Trash Direct Billed

Below Market Rents

Predominantly Tenant-Owned Homes

Opportunity to Expand (3 Pads)

Long-Term Residents


07

INVESTMENT HIGHLIGHTS


AREA OVERVIEWDarlington, the county seat, is located in the Pee Dee region, the heart of the

state's agricultural belt. This northeastern section of the state is famous for its

tobacco auctions and endless fields of cotton. Visitors find the area rich with

historic sites, beautiful gardens, colorful festivals, museums and recreational

activities. For NASCAR fans Darlington is home to the Darlington Raceway,

the Darlington Raceway Stock Car Museum and NMPA (National Motorsports

Press Association) Hall of Fame.

*Source: https://discoversouthcarolina.com/products/10141


08

PROPERTY DESCRIPTION/INFRASTRUCTURE


THE OFFERING

Property Address: 934 High Hill RoadDarlington, SC 29532

County: Darlington

Parcel Numbers:

SITE DESCRIPTION

# of Pads: 32

Total Land Area: ± Acres

Current Occupancy: 97%

Zoning:

MECHANICAL

Water | Sewer: City (Direct Bill) | Septic (1:1)

Electric: Underground

147-00-05-089

Listing Price: $625,000

±11.0

None

25

0

5

Gravel

X: 1% Chance of Flood

Flat

Ample

# of Lot Renters

Vacant Lots

# of Park-Owned Homes

Road Type

Flood Plane

Topography

Parking

Mowing Responsibilities Tenant / Park(Common Area)

1# of Vacant Park-Owned Homes

1# Rent-to-Own Homes

INFRASTRUCTURE BALDWIN MHP


09

RENT ROLL/INVENTORY


Master Seller Unit # Lot Type Unit Type Unit Details Note Bal. (RTO) Lot Rent Home Rent Rent Annual Rent

1 1 MH POH 3 BRs, 2 Baths $165 $350 $515 $6,1802 2 MH TOH $165 $165 $1,9803 3 MH TOH $165 $165 $1,9804 4 MH TOH $165 $165 $1,9805 5 MH POH 3 BRs, 2 Baths $165 $360 $525 $6,3006 6 MH TOH $165 $165 $1,9807 7 MH TOH $165 $165 $1,9808 8 MH TOH $165 $165 $1,9809 9 MH TOH $165 $165 $1,980

10 10 MH POH 2 BRs, 1.5 Baths $165 $285 $450 $5,40011 11 MH TOH $165 $165 $1,98012 12 MH POH 2 BRs, 2 Baths $165 $360 $525 $6,30013 13 MH TOH $165 $165 $1,98014 14 MH TOH $165 $165 $1,98015 15 MH TOH $165 $165 $1,98016 16 MH TOH $165 $165 $1,98017 17 MH TOH $165 $165 $1,98018 18 MH TOH $165 $165 $1,98019 19 MH Vacant POH Vacant Trailer - Repo $0 $020 20 MH TOH $165 $165 $1,98021 21 MH TOH $165 $165 $1,98022 22 MH TOH $165 $165 $1,98023 23 MH TOH $165 $165 $1,98024 24 MH TOH $165 $165 $1,98025 25 MH TOH $165 $165 $1,98026 26 MH TOH $165 $165 $1,98027 27 MH TOH $165 $165 $1,98028 28 MH RTO 3 BRs, 2 Baths $15,810 $165 $165 $1,98029 29 MH TOH $165 $165 $1,98030 30 MH TOH $165 $165 $1,98031 31 MH TOH $165 $165 $1,98032 32 MH POH 3 BRs, 2 Baths $165 $310 $475 $5,700

10

PROPERTY PHOTOS


11

AERIAL


KEY FACTS

141,936Population

39.6

Median Age

2.5

AverageHousehold Size

$50,274Median Household

Income

EDUCATION

14%

No High SchoolDiploma 32%

High SchoolGraduate

29%Some College

26%Bachelor's/Grad/Pr

of Degree

BUSINESS

4,967Total Businesses

67,705Total Employees

EMPLOYMENT

64%White Collar

23%Blue Collar

12%Services

6.9%

UnemploymentRate

INCOME

$50,274Median Household

Income

$26,257Per Capita Income

$90,767Median Net Worth

Households By Income

The largest group: $50,000 - $74,999 (17.9%)

The smallest group: $200,000+ (3.6%)

Indicator � Value Diff <$15,000 14.9% +3.4%$15,000 - $24,999 9.4% -0.2%$25,000 - $34,999 9.8% +0.3%$35,000 - $49,999 15.5% +1.6%$50,000 - $74,999 17.9% -0.2%$75,000 - $99,999 11.9% -0.7%$100,000 - $149,999 13% -0.8%$150,000 - $199,999 3.9% -1.8%$200,000+ 3.6% -1.8%

12

DEMOGRAPHICS


13

LOCAL RETAIL & SCHOOLS


Mobile Home PartsAt National Hardware

Jack's Mobile

Home Supply

Lumbee Mobile

Home Supply

South FlorenceMiddle SchoolSouth Florence

High School

GreenwoodElementary

West FlorenceHigh School

PateElementary

B A GaryMiddle School

DarlingtonMiddle School

DarlingtonHigh School

CaineElementary

St. John’sElementary

BALDWINMHP

14

ADVISOR BIOS

EXPERIENCE• National Association of Realtors• Charleston Trident Association of Realtors• Charleston Top Producers Club• Charleston Home Builders Association Million Dollar Circle• President’s Club & Sales Leader of the Month Awards

Paul joins us from Charleston, South Carolina, where his working relationships with investors and developers in master planned developments has made him a Charleston Top Producer. He earned that designation by procuring over $115 million in revenue. His expertise is in examining the market, thoroughly understanding the needs and motivations of his clients and delivering a quality service.

Paul earned his bachelor’s degree in Business Administration with a minor in Marketing at Georgia State University. Outside of his daytoday responsi-bilities, he loves spending time with family and friends, and stays active playing golf and enjoying other outdoor activities.

BIOGRAPHY

• Georgia State University - Bachelor Degree in Business Administration with a minor in MarketingEDUCATION

T: 678.932.0200E: [email protected]

3535 Peachtree Rd, Suite 520-1016,Atlanta, GA 30326

PAUL SCHAAFASSOCIATE

EXPERIENCE

• Effingham Regional Growth Alliance – President/CEO • Newmark Grubb Knight Frank – Managing Director• Hart Corporation (Industrial And Investment Real Estate) – Partner• Consistent “Multi-million Dollar Producer”

Craig Nielson has over 30 years in commercial real estate sales and leasing. Craig brings a broad base knowledge of successful negotiations with large corporations and private investors alike. In addition, Craig is an economic development specialist with expertise in community revitalization, incentive negotiations, labor analysis, etc. which is essential in the development and/or sale of mobile home communities. Craig is a top producer with a focus on long lasting client relationships and a proven track record of consistently delivering what is promised.

• Arizona State University Tempe, Az – Bachelor Of Arts, Communications• Certified Commercial Investment Member (Ccim) – Member Since 2002• Society Of Industrial And Office Realtors (Sior)– Member Since 2002

EDUCATION



CRAIG NIELSONASSOCIATE

BIOGRAPHY

ADVISOR BIOS

BIOGRAPHY

EDUCATION

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

MEMBERSHIPS & ASSOCIATIONS

• Atlanta Commercial Board of Realtors• Real Estate Broker - Georgia, Pennsylvania, South Carolina• Georgia Manufactured Housing Association (GMHA) member• Southeast Community Owners (SECO) member

Maxwell R. Baker founded The MHP Broker in 2010 as a commercial real estate broker specializing in helping Investors purchase and sell mobile home communities within the Southeast. His family has been involved with mobile home parks since 2000, and he has been a part of management, rehabilitation, and selling mobile home parks ever since they purchased their first park. The MHP Broker offers mobile home community owners and investors brokerage services, mobile home park audits, in-depth market research, and mobile home park financing consultation. The MHP Broker has successfully closed well over $500 Million dollars worth of mobile home communities since Maxwell founded the company in 2010. Maxwell's core competencies include structuring and negotiating complicated transactions, owner financing, research and outsourcing, and his "deal-making" capabilities. Maxwell, along with his expert team of researchers, compile and maintain the industry’s most extensive database of mobile home communities in the Southeast and have over 10,000 communities the company closely monitors for the most comprehensive sold data. Maxwell and The MHP Broker are recognized as a trusted advisor in this rapidly growing multifamily, affordable housing sector.



MAXWELL BAKERMANAGING MEMBER

15

DISCLOSURE

16

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 The MHP Broker and should not be made available to any other person or entity without the written consent of The MHP Broker. 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. The MHP Broker 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, The MHP Broker has not verified, and will not verify, any of the information contained herein, nor has The MHP Broker 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 NOTICEThe MHP Broker 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 The MHP Broker, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of The MHP Broker, and is solely included for the purpose of providing tenant lessee information.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONTACT THE MHP BROKER AGENT FOR MORE DETAILS.

>VISIT www.THEMHPBROKER.com

Managing MemberO: [email protected]

MAXWELL BAKER3535 Peachtree Road Suite 520-1016,Atlanta, GA 30326

THE MHP BROKERAssociateO: 678.932.0200E: [email protected]

PAUL SCHAAF

O: 678.932.0200E: [email protected]

CRAIG NIELSONAssociate

Documents

BALDWIN MOBILE HOME PARK