Western Slope Portfolio 4 Properties Offered at $41,000,000 in Multiple Locations

– Ownership’s preference is to sell all four communities together; however, they are open to receiving individual offers.
– Current ownership has invested approximately $12.0 million across the portfolio since 2019:
» $3.2 million in community-level infrastructure items such as new water and sewer lines, underground electric, paving, fencing,
signage, landscaping, mailbox kiosks, meters, and playgrounds.
» $8.8 million in close to 100 new and used homes (including ~85 new homes at Mountain View).
– With the recent capital investments, portfolio revenue grew from $1.38 million in 2023 to $2.62 million on a T-12 basis through June
2026, which is a 90% increase in just two years. By closing of escrow, the community will have 271 occupied units, and all 2026
rent increases in place (Winding River already in place), boosting revenue another 23%.
– Beyond the 2026 rent increases, continued disciplined mark-to-market would add more than $520,000 of annualized site rental
revenue at full stabilization.
– The areas around the communities have strong household incomes and high home values, and as a result, a lack of affordable
housing. Within a 5-mile radius of the communities, the average household income is approximately $96,900 with average home
value of more than $488,000.
– There are 94 POHs across the portfolio (33% of total sites), of which 91% are occupied as either pure rentals (48 homes) or lease
options (38 homes).
– Home inventory consists of mainly newer model homes with 93 being 2020 or newer. With mostly newer homes, the next phase is
to convert POHs to tenant-owned homes. Ownership converted 5 at Mountain View within the past year.
– Wide Acres sits on 53 total acres in Delta, providing the next owner with significant land optionality not currently being monetized.
Approximately 12 platted expansion lots already exist at the front of the property and could be activated with modest infrastructure
work. In addition, ownership currently leases a large area (37 acres) of adjacent farmland to a tenant for $2,500 per year, which could
be a future rezoning/redevelopment option.
– Manufactured Housing Communities (MHCs) offer superior tax efficiency compared to traditional asset classes. By leveraging
accelerated depreciation schedules — specifically 100% upfront bonus depreciation on land improvements — investors can
significantly enhance after-tax yields. This stands in stark contrast to the standard 27.5-year and 39-year recovery periods required for
multi-family and general commercial real estate, respectively.