CLOVER VALLEY MOBILE HOME PARK

Investment Highlights:

61 space, all-age manufactured housing community

59 park-owned homes

On-site office & maintenance staff

On-site fenced-in workshop & storage building

City water & sewer

22 storage unit facility on site

16+ acres

Vacant land on premise for additional units

Close Proximity to Carolina Hospital, Walmart, & Lowes within 4 miles of property

Front Office

22-unit

storage

building

Vacant land for

additional units

Property Summary:

Property Name Clover Valley Mobile Home Park

Property Address 1421 Gilbert Dr, Florence, SC 29506 Type of Park All Age Rental Agreement One Year Number of Spaces 61 Vacant Spaces 2 Number of Park Owned Homes 59 Land Size 16+ Acres List Price $1,750,000 Parking Ample

Storage

units &

workshop

Utilities Paid By Company

Water Landlord City of Florence

Electric Tenant Duke Energy

Sewer Landlord City of Florence

Trash Landlord Waste Management

Clover Valley Mobile Home Park is a 61 space, all-age community located in Florence, SC. It is

located on 16+ acres & being offered on the basis of its current income. The average 3-bedroom

apartment rents in Florence for $839. Unemployment rate is 5.25%, lower than the U.S.

unemployment rate of 6.3%. Median home price in Florence is $119,100. The park currently has

on-site maintenance staff.

Florence, South Carolina is located at the intersection of Interstate 95 and Interstate 20, and only

70 miles from Myrtle Beach, Florence is the prime location for many business. It is currently a

major hub for manufacturing and commerce with nine foreign affiliated companies and 14

Fortune 500 companies calling Florence home. AT&T and Duke Energy also have headquarters

here.

Florence has a thriving economy as a transportation and distribution center with manufacturing

and agriculture added to the mix. The main transportation routes from the north and east split at

this point, continuing inland to Atlanta and down the coast to Savannah and into Florida.

Manufacturers include Honda, GE, Maytag, DuPont, and Southeastern Steel.

The McLeod Regional Medical Center adds a significant health care presence. Darlington

Raceway 5 miles north is an active NASCAR track, and a series of state parks offer some

recreation in the piney hills to the northwest. The area is strong financially with an attractive.

Cost of living Index and healthy recent job growth.

Florence has blossomed into a strong center for medical care, with three major medical providers

McLeod Regional Medical Center, Carolinas Hospital System, and HealthSouth. The growth of

these providers has led to the transformation of the Florence skyline over the last 10 years. This

growth has led to the demand and development of multi-story, high-rises, as well as community

relation projects. Development in recent years has brought the headquarters of pharmaceutical

and insurance companies such as, General Electric Medical Systems Manufacturing, to the area.

With all the economic growth and close proximity to tourist attractions like Myrtle Beach,

Florence is an excellent city to invest.

Carolina Hospital only 1.3 miles (3min drive) from the MHP

MHP

Hospital Walmart

Lowes

Downtown

EXPENSES

Comments: The Repairs/Maintenance and the Maintenance Staff Salaries are higher than normal due to

completing the rehab for the remaining five units.

Current

Real Estate Taxes $13330

Insurance Liability $2220

Insurance Building $6492

Management $24200

Utilities

Water & Sewer $39600

Electric $1980

Trash $3900

Total Utilities $45480

Repairs & Maintenance $24000

General & Administrative $2045

Telephone/Internet 780

Maintenance Staff Salaries $38400

Total Expenses $156947

% of EGI 43.3%

Income Current

GROSS POTENTIAL INCOME $361,080 Vacancy/Collection Allowance (% of GPI) 5% / $18,054 EFFECTIVE GROSS INCOME $343,026 Total Expenses $156,947 NET OPERATING INCOME $204,133

Rent Roll

Name Lot # Income

Income with Increase

Temporary Office 1 3b2b 545.00 545.00

Jackson, Charmion 2 3b1.5b 495.00

545.00

Bishop, Valerie 3 2b1b 395.00

495.00

Bostick, Delvin 4 3b1b 495.00

495.00

vacant Lot 5 545.00

Robinson, Selma 6 2b1b 450.00

495.00

Johnson, Bernard 7 2b1b 450.00

495.00

Anderson, Diane 8 3b2b 595.00

595.00

Fortune, Shaquana 9 3b2b 495.00

545.00

10 2b2b 495.00

545.00

Black, Janet 11 3b2b 545.00

545.00

Bartell-Fields, Shaunina 12 3b1.75b 595.00

595.00

Gause, Delores 13 2b1b 395.00

495.00

Thomas, blair 14 2b2b 475.00

525.00

Robinson, Pamela 15 3b1b 450.00

495.00

Malloy, Carol 16 2b2b 350.00

495.00

Whack, Leon 17 2b1b 450.00

495.00

cooper, Kashima 18 2b1b 450.00

495.00

Benjamin, Dominique 19 3b2b 595.00

595.00

Pigett, Lathsa 20 2b1b 450.00

495.00

Jaines, Shanika 21 2b1b 450.00

495.00

Fillmore, Sabrina 22 2b2b 450.00

495.00

Barr, Anthony 23 2b1b 450.00

495.00

melton, Shirley 24 2b2b 495.00

495.00

Cameron, Pearl 25 3b1b 495.00

495.00

Culbreth, Ashley 26 2b1b 450.00

495.00

Mcduffie, Lashannon 27 2b1b 400.00

495.00

Hines, Shameka 28 3b1.5b

525.00

545.00

Smith, Kenyetta 29 2b1.5b 450.00

495.00

Taylor, Jimmy 30 2b1b 450.00

495.00

Wright, Catherine 31 3b2b 600.00

600.00

Richardson, Gracie 32 2b1.5b 450.00

495.00

Davis, Nadaydra 33 2b1.5b 495.00

495.00

Gordon, Jasmine 34 2b1b 450.00

495.00

Montgomery, Ashia 35 3b2b

545.00

545.00

Mccall, Gloria 36 3b2b 545.00

545.00

Blather, Jessica 37 3b2b 545.00

545.00

Gurley, Lorey 38 3b2b 545.00

545.00

Williams, Judy 39 3b2b

545.00

545.00

40 3b1.5b 525.00

525.00

McGoogan, Emmanuel 41 2b2b 495.00

495.00

Davis, Brenda 42 2b2b 475.00

525.00

Cooper, Lillie 43 3b2b 550.00

550.00

44 3b2b 545.00

545.00

Washignton, Nathasha 45 2b1b 475.00

475.00

McCormick, Theresa 46 2b1b 475.00

495.00

Smith, Jim 47 2b1.75b 495.00

495.00

Rob, Tony 48 1b1b 450.00

450.00

Supreme, Gail 49 3b2b 550.00

550.00

Kelly, Dan 50 2b2b 495.00

495.00

Taylor, Opal 51 2b1b 450.00

495.00

Brown, Wallace 52 2b2b 545.00

545.00

Duffey, Pamela 53 2b1b 450.00

495.00

Vacant Lot 54 545.00

Fields, Britney 55 2b1b 475.00

495.00

Brooks, jessie 56 2b1b 475.00

495.00

57 2b1.75b 495.00

495.00

Coe, Annette 58 3b2b 595.00

595.00

Allen, Anthony 59 2b1b 450.00

495.00

Ford, Deat 60 2b2b 495.00

545.00

Harvey, Stephanie 61 3b2b 495.00

545.00

Total Income

28,960.00

31,685.00

Storage building

4 units at 35

140.00

160.00

18 units at 55

990.00

1,170.00

Total

30,090.00

33,015.00

Vital Data

CAP Rate 11.66%

List Price $1,750,000

Effective Gross Income $343,026

Net Operating Income $204,133

Gross Income After Increase

$396,180

NOI After Increase $239,233

CAP Rate After Increase 13.67%