Spectacular Portfolio $6,800,000 for Sale: 8 Mobile Home Parks Minimum Bid Northern Maine $3,900,000 Aroostook County

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Spectacular Portfolio $6,800,000 for Sale: 8 Mobile Home Parks Minimum Bid Northern Maine $3,900,000 Aroostook County Spectacular Portfolio $6,800,000 For Sale: 8 Mobile Home Parks Minimum Bid Northern Maine $3,900,000 Aroostook County • 371 Pads • 60 Homes • 3 Houses • 20 Unit Motel Riverside Motor Court Loring Woods MHP Houlton Mobile Home Park Presque Isle MHP • 160 Acres 26 Pads, 18 Motel units, and 3BD 54 pads 55 Pads 85 Pads Contact: Tony Brettkelly +1 (650) 218-1995 [email protected] Caribou Stream Trailer Park Casey’s Trailer Park Salmon Brook MHP West Gate MHP 38 Pads 13 Pads 28 Pads 72 Pads FOR SALE - 8 Mobile Home Parks Portfolio Overview: • Tremendous upside - value add opportunity • All infrastructure in place • 50 homes onsite ready to be renovated • Enormous supply constraint of affordable housing in Northern Maine • Captured market with clustered properties and economies of scale • Very low entry price per unit • Opportunity zone • 8 Parks • Some seller financing • 371 Pads • Wonderful part of America Contact: • 60 Homes • Most Parks have a river or creek alongside Tony Brettkelly • 3 Houses • Out of state owner +1 (650) 218-1995 • 20 Unit Motel • Operations easily transferable [email protected] • 160 Acres Table of Contents 1. Portfolio Overview 2. Location Map 3. Portfolio Financials 4. Capital Improvement 5. Future Projects 6. Inventory of Vacant Homes 7. Northern Maine Overview 8. Maine Portfolio Estimates 9. Riverside Motor Court - Caribou 10. Loring Woods - Limestone 11. Houlton Mobile Home Park - Houlton 12. Caribou Stream Mobile Home Park - Caribou 13. Casey’s Mobile Home Park - Ashland 14. Salmon Brook - Washburn 15. Presque Isle Mobile Home Park - Presque Isle 16. West Gate Mobile Home Park - Limestone 17. Rent Rolls Provided Upon Request LOCATION MAP Properties 1. Riverside Motor Court- 563 Access Hwy, Caribou, ME 04736 1 2 2. Loring Woods Mobile Home Park- 8 4 149 Loring Commerce Rd Limestone, ME 04750 1 2 6 3. Houlton Mobile Home Park- 6 4 89 Old Woodstock Rd. Houlton Maine 04730 5 7 7 4. Caribou Stream Mobile Home Park- New Brunswick, Canada 5 320 Washburn Rd. Lot 2 Caribou Maine 04736 5. Casey’s Mobile Home Park- Maine, United States 1 Casey’s Trailer Park Ashland Maine 04732 6. Salmon Brook Mobile Home Park- 41 Brookside Circle Washburn Maine 04786 8 Mobile Home Parks Includes: 7. Presque Isle Mobile Home Park- • 371 Pads 38 Jordan St. Presque Isle Maine 04769 • 60 Mobile Homes 3 • 3 Houses 3 8. West Gate Mobile Home Park- • 1 Motel with 20 units 188 West Gate Rd. Caribou Maine 04736 • 160 Acres Capital Improvements/ Assets Spring 2020 Projects • Presque Isle MHP/Houtlon MHP - completion of (2) steel buildings • Repair and replacement of potable water lines and septic infrastructure upgrade at Loring Woods MHP, Westgate MHP and Riverside MHP; $25,000 • Completion and lease up of over 30 homes at an average lease of $595 - $725 per month revenue • Kick off purchase of additional 30-50 additional homes for inventory /2020 /2021 /2022 • Expecting to reach $750,000 in Revenues by 2021/2022 • Expecting to reach NOI of $400k by 2021/2022 • Continue with the full turn around of the properties Current Inventory of Vacant Homes • Houlton MHP- (12) mobile homes • Caribou Stream MHP - (1) 2br House , (2) mobile homes • Loring Woods MHP - (5) Mobile Homes • Riverside Inn and Park - (8) vacant motel rooms and (16) mobile homes; (3) to move to PI Park; (3) in queue for purchase • Casey’s - (2) mobile homes; (2) in queue for purchase • Presque Isle MHP - (1) mobile home Northern Maine Overview Demographics/ County Overview: • 6th Largest County by Population(67,653) in Maine out of 16 counties • Median houshold income: $39,021 as of 2013-2017, (in 2017 dollars) • Median age is 46.9 years young • Median Value of owner-occupied housing units, 2013-2017: $97,000 County Facts: • Incorporated March 16, 1839. • Population is 5.4% of the State’s total population. • Aroostook is named for an Indian word meaning “beautiful river” • Contains 2 cities, 55 towns, 11 plantations, and 110 unorganized townships. • Aroostook County is larger than Connecticut and Rhode Island combined. Riverside Motor Court 563 Access Highway Caribou, ME, 04736, United States Overview: • 26 pads, 18 Motel units and 3br unit conveniently located on the 89 in Caribou and close proximity to Limestone • Pads available from $200 per month • Newly renovated Homes from $650 per month and units from $550 per month • Parks Including Playground and Clubhouse coming soon • Very friendly community and supportive staff • Handy to 89, town of Caribou and Limestone • Come Live with Us! Riverside Motor Court 563 Access Highway Caribou, ME, 04736, United States Riverside Motor Court 1 5 Minute Drive to Caribou Caribou Municipal Airport Caribou Skyway Plaza Shopping Center Hannaford Supermarket and Aroostook River Pharmacy Caribou High School Caribou 1 Riverside Motor Court 563 Access Highway Caribou, ME, 04736, United States Acreage of the Park: 10 Acres Age of the Park 18 Years PADS: How many pads? 26 How many homes on concrete pads? 1 Located at Lot 26 How many homes on gravel pads? 0 How many pads currently vacant? 20 What kinds of pads are available? Hard Pack Dirt Water Type (Private or Public) Private Type and size of supply lines? 1” up to code when installed Sewer type: (Public or Private) Private/Septic What kind of well is it? Drilled Is the main water line cast iron or others? Others Roads: (Private, town approved, paved, gravel) Private, Gravel Hardpack Are the roads in the park maintained by the park? Yes Are individual driveways maintained by the park? Yes as needed Is snow plowing and sanding of driveways the responsibility of the park own- Yes ers? Electricity: Who pays for the street lights in the park? Owner What type of electrical meters servicing each pad? 100 Amps How many are fuses? 0 How many are circuit breakers? 100 Is there a long term utility company? No Riverside Motor Court 563 Access Highway Caribou, ME, 04736, United States Miscellaneous: Has the Maine Manufacturing Housing Board cited the MHP for any vio- Yes and were corrected. lations as a result of their annual inspection and/or complaints from park tenants? Are there any buried oil tanks in the park? None to Seller’s Knowledge How many sites have oil tanks? Only the occupied sites Does the current owner provide trash removal for each site? Yes - Dumpster How many vehicles are allowed to park on each site? 2 Are dogs allowed in this park? Yes Are there rules and refulations for this park? Yes Can you provide rent roll inclusive to the name of the tenants and length Yes of occupancy? Are there litigations currently pending? No To your knowledge, are there environmental issues factored inot the No relative value of the park? Are copies of the sumbitted IRS schedule E statements available for the Yes last three years? Is there an age limit to the admission to the park? No Are older mobile homes allowed to enter this park? The old units are in the process of being removed How many of the mobile homes are owned by the Park owner? 2 Are not being removed What has been the occupancy rate of this park? Looking at trends, do you anticipate further increases in this rate? Loring Woods Mobile Home Park 149 Loring Commmerce Limestone, ME 04750 Overview: • 54 pads located in a beautiful woodsy community 5 minutes from the town of Limestone • Pads available from $200 per month • Newly renovated Homes from $650 per month • FREE MOVE AND FREE RENT SPECIALS NOW AVAILABLE • Very friendly community and supportive staff • Handy to 89, schools, downtown, hospital and restaurants • Parks Including Playground and Clubhouse coming soon Loring Woods Mobile Home Park 149 Loring Commmerce Limestone, ME 04750 Aroostook National 1 Loring Woods Wildlife Refugee Country Club Loring Woods Aroostook Band of Mimac Trust Land 1 15 Min to Caribou 89 89 Chuch Of Advent Limestone Maine School of Science and Math- ematics Loring Woods Mobile Home Park 149 Loring Commmerce Limestone, ME 04750 Acreage of the Park: 37 Age of the Park 1960+/- Is there additional land abutting this property that could supply potential park Yes, the Sellers own a separate 60 acres parcel and a growth/expansion in the future? separate single family home that will be included with the park at the price listed. PADS: How many pads? How many pads? 52 How many homes on concrete pads? 0 How many homes on gravel pads? 0 How many pads currently vacant? 44 Water Type (Private or Public) Private Type and size of supply lines? 1’’ Sewer type: Is the Sewer Public or Private Private Roads: (Private, town approved, paved, gravel) Private, Gravel Hardpack Are the roads in the park maintained by the park? Yes Are individual driveways maintained by the park? Yes Is snow plowing and sanding of driveways the responsibility of the park own- Yes ers? Electricity: What type of electrical meters servicing each pad? 100 amps How many are fuses? 0 How many are circuit breakers? All Who pays for the street lights in the park? Owner Loring Woods Mobile Home Park 149 Loring Commmerce Limestone, ME 04750 Miscellaneous: Has the Maine Manufacturing Housing Board cited the MHP for any vio- Yes and were corrected lations as a result of their annual inspection and/or complaints from park tenants? Are there any buried oil tanks in the park? None to Seller’s knowledge How many sites have oil tanks? Only the occupied sites Does the current owner provide trash removal for each site? Yes - Dumpster How many vehicles are allowed to park on each site? 2 Are dogs allowed in this park? Yes Are there rules and refulations for this park? Yes Can you provide rent roll inclusive to the name
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