9091 CREEK RD Nunda NY 14517-9653

Colliers Manufactured Housing & RV Group presents the investment opportunity to acquire the 91-site, Rochester N.Y. MHC Portfolio. The mostly tenant-owned communities span over 21 acres and are located within 15 minutes of each other in the scenic and peaceful atmosphere of the greater Rochester, New York, MSA. The portfolio represents a strong current cash flow with significant value add growth from leasing new lots.

The asking price for the portfolio is $2,700,000 ($29,670/site).

This represents a 7.75% cap rate on T-1/T-12 NOI and

there is approximately $130,000 of note and vacant home value.

• The two properties in the portfolio are priced with stable cash flow and significant occupancy upside which the owner has proven out by increasing occupancy by 12% over the last 12 months.

• There continues to be strong demand for housing in the market which should allow a new owner the ability to increase occupancy and raise rents (subject to rent control).

• The owner has rehabbed and sold/rented 10 homes in the last 12 months, with three more pending and has seen significant demand when homes are available.

• New Homes from manufactures are available again with a short lead time (~1 month) and reduced home costs.

• There is an opportunity to pass through trash costs and potentially mobile home personal property taxes currently paid for by the community on top of future rent increases.

• Hillside currently has one vacant POH and Country Road has four vacant POH that need small capital improvements to be ready to sell/rent and represents a short term $47,901 annual increase in revenue.

• There are approximately $130k of RTO notes and vacant home value.

• Located within 15 minutes of each other will allow for efficient management and are under one hour from both Buffalo and Rochester both with populations over 1 million, giving these all-ages communities access to all the attractions and major employers of the big city, while living in the quiet and peaceful atmosphere in the countryside.