Multi-Family Space For Sale @ 4556 North Carolina 72

Property tours by appointment only on 6/19. Please contact Bill Overman to schedule at boverman@slnusbaum.com or 757-640-2254. Properties included in Portfolio: Mobile Home Park 1 - 3124 HWY 711,Lumberton, NC 28360; APN: 16090101501 Mobile Home Park 2 - 180 Odum Rd, Lumberton, NC 28360; APN: 160601009, 160601008 Mobile Home Park 3 - 4556 NC HWY 72 West, Lumberton, NC 28360; APN: 160501008 Mobile Home Park 4 - 4556 NC HWY 72 West, Lumberton, NC 28360; APN: 160501008 Mobile Home Park 5 - 615 Moss Neck Rd, Pembroke, NC 28373; APN: 16050201203, 160502012, 16050201201, 16050201202 Investment Highlights: ±53.82 AC Mobile Home Portfolio of Communities in Lumberton, NC FEMA contract through 2018 for multiple lots at or above market rent Huge value-add through lease-up of the available ±50 vacant homes and ±62 vacant spaces Easy management with all 5 parks within 1-mile radius Minutes from The University of North Carolina at Pembroke and Lumberton Regional Airport Investment Overview: Long Leaf Mobile Home Communities is a 5-park portfolio totaling 298 lots on ±53.82 acres located within Robeson County, NC. Fixed improvements include ±138 owned homes, pads, on-site utilities, and road infrastructure. Income is generated from various sources including pad rent, rental income from park owned units, and income associated with a rent-to-own program for several of the homes. Long Leaf Mobile Home Communities has a total of 299 available spaces. Of the 299 spaces, there are ±138 park owned homes that will convey as part of this offering. There are currently ±88 of the ±140 park owned homes are currently rented with ±7 under contract as rent to own. The remaining pads are ±50% occupied. The pad and home vacancy presents a value-add opportunity to immediately increase NOI. A housing contract was recently signed with the Federal Emergency Management Agency (FEMA) that will result in the delivery to the portfolio communities of 40 new, 2016 Clayton mobile homes with a retail value of approximately $45,000 each. A total of 32 homes have been placed with the remaining 8 homes placed throughout the year. The FEMA contracts gives the residents of the 40 mobile homes a right of first refusal after the end of the 24 month FEMA term and the portfolio owner has a second right of refusal. The Parks offer paved roads with speed bumps, paved parking pads, individual metered, subterranean electric power and water, and one septic tank per two spaces. In the last 24 months, ownership has made ±$386,000 in capital improvements including road work, electrical, trailer renovation and office repairs. The portfolio properties are located within one mile of one another in and around Lumberton, North Carolina and just off I-95. Lumberton is the largest city in Robeson County with an estimated 2015 population of ±135,839, an increase of 6% since the 2010 Census. Lumberton’s central location on Interstate 95 in southeastern North Carolina, midway between New York and Miami accounts in part for the area having over 20 hotels and motels and 80 restaurants. Lumberton NC / Pembroke NC have many job producing employers in the area including Sanderson Farms and Campbell’s Soup. There is additional job growth is anticipated in the area resulting from Robeson County’s partnership in the All American Defense Corridor. New interest from defense-related industries and homeland security contracting industries are creating increased demand for work-force housing. The parks are all located within 1 mile of each other between Lumberton NC and Pembroke NC, just off I-95 just south of Fayetteville NC. The University of North Carolina at Pembroke is located only ±8 miles away and Lumberton Regional Airport is located only ±6 miles from the properties.