COACHLAND MH & RV PARK10100 Pioneer Trail, Truckee, CAThe Best MH Community and Only RV Resort in North Lake Tahoe, 98 MH Sites + 131 RV SitesVery Reasonable Site Rents, No Rent ControlMunicipal Sewer & Water UtilitiesClubhouse, Playground, Picnic Area, 2 Acres Dog Park, Laundry, Boat & RV Storage, 29.55 AcresUpside to Add 4 MH Sites and Upgrade RV Amp$19,200,000, 5.0% Cap Rate, Cash to New Loan

Information contained herein has been obtained from the owner of the property or from other sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it.

T John Grant858‐586‐9400 Email: john@parkbrokerage.com

Lake Tahoe Area MH Community & RV Resort

COACHLAND MH & RV PARK98 MH + 131 RV Sites in the High Sierras

Down PaymentCash to Loan

LOAN INFORMATION:No existing loan on the property. Broker anticipates anew 70% ltv or $13,440,000 at 4.875% fixed for 5years then rolling to an adjustable interest rate foranother 5 years, monthly payment $71,125.59

PROPERTY DESCRIPTION AND RENTAL INFORMATION: Beautiful and very well maintained and managed 98 sites (permitted for 102) all ages mh community and 131 sites RV park (permitted for 130) located in historic Truckee fifteen minutes north of Lake Tahoe. 98 large 50’x70’ mh sites with all doublewide homes except for five singlewides and with very reasonable site rents of $537-$812 with $640 average and with direct bill electric, submetered propane gas, and flat rate water and sewer at $62.09 and $44.16. No rent control in the City of Truckee and very strong demand for housing with expensive home and rental prices. 11 manufactured homes sold in the last year for $115,000 to $162,500 with a $125,889 average. MH park is permitted for 102 sites but 4 sites are used for snow storage and one mh site is a beautiful triplewide office and clubhouse. The RV park enjoys incredible demand and has a 95%-100% occupancy rate during the summer and 60%-65% during the winter months. 44 fifty amp RV sites, all pull thrus, and 16 rental park models at very low rental rates of $850-$975. RV park amenities include two acres dog park (best Broker has ever seen), beautiful landscaping and pine trees, 2,000 sf clubhouse, 200 mb wifi, playground, fire pit, picnic area, laundry, propane, dump station, and boat storage. The property is serviced by municipal sewer and water utilities. Do not contact onsite staff. Please contact broker to schedule a visit.

CountyNevada

StateCalifornia

Historical FinancialsSee Attached Excel Spread Sheet

AgeMH Built 1972 + 1994, RV 1965

LoanBuyer to Obtain

Total Parcel Size 29.55 Acres

No. Spaces229

WaterMunicipal

SewerMunicipal

Listing Salesman John Grant (858) 586-9400 Price Per Site: $83,843

NET INCOME   $965,001

TOTAL ANNUAL PRIN. & INTEREST PAYMENT $853,507

EST. ANNUAL PRE‐TAX CASH FLOW (SPENDABLE)       $111,494

PLUS PRINCIPAL REDUCTION YEAR 1 $202,799

TOTAL RETURN $314,293

Address/City10100 Pioneer Trail, Truckee

Capitalization Rate5.0%

Est. Spendable Return1.9%

Total Return 5.5%

Price$19,200,000

COACHLAND

ACTUAL Year End

2015

ACTUAL Year End

2016

ACTUAL Year End

2017

ACTUAL July 17-June 18

Broker's Proforma

REVENUE

Uncategorized 0 0 0 937 937Laundry 6,732 11,629 11,208 11,774 11,774Sec. Deposits 1,114 1,377 1,672 1,103 1,103MH Park 889,302 919,254 945,557 964,418 993,000 ←

RV Park 676,284 762,215 967,835 1,001,455 1,001,455Utilities Deposits 3,322 3,640 3,987 4,682 4,682

TOTAL REVENUE 1,576,754 1,698,115 1,930,259 1,984,369 2,012,951

EXPENSESUncategorized 0 0 1,900 0 0Advertising & Promotion 11,697 15,358 10,682 10,431 10,431Cable TV & Wireless 25,417 24,432 24,125 23,618 23,618Electricity 61,357 74,294 88,378 85,703 85,703Landscape & Grounds 42,319 16,922 66,383 50,936 20,000 ←

Restrooms & Clubhouse 3,244 3,761 7,766 6,419 6,419Maintenance & Repair 212,257 46,935 59,048 31,742 50,000 ←

Insurance 29,355 27,208 29,355 34,601 34,601Computer Expense 2,673 2,162 2,418 2,207 2,207Office 9,472 11,715 13,457 13,348 13,348Payroll 158,768 177,328 208,158 189,931 189,931Permits & Fees 4,710 5,217 4,353 4,977 4,977Propane 64,398 73,437 119,725 86,646 86,646Admin. & Office 48,050 95,311 59,876 52,197 20,000 ←

3.9% cpi increase effective Jan/19.  $25 higher turnover rates.  Rents in both mh and rv parks are very reasonable.

Very high tree removal and trimming costs in 16 and 17

Asphalt overlay in 2015 for mhp

Mostly owner personal expenses

COACHLAND

LLC Partner's Expenses 32,372 32,477 31,930 22,579 0Contributions 1,025 1,025 0 1,000 0Franchise Tax 6,800 0 6,800 12,800 12,800Dues-Lake Club 4,388 0 0 0 0Legal & Professional 6,648 7,569 27,627 28,229 10,000 ←

Property Management & Admin 4,675 21,977 11,725 4,185 60,689 ←

Travel 2,164 3,818 0 0 2,000Resident Managers 39,025 27,058 28,327 16,334 5,000 ←

Sewer Fees 87,861 87,661 104,184 90,113 90,113Snow Removal Costs 1,701 4,632 19,588 5,260 5,260Sales Taxes 6,904 5,628 3,801 3,942 3,942Property Taxes 29,608 30,774 44,369 27,236 242,955 ←

Trash 16,859 19,315 25,563 26,874 26,874Vehicle & Equip 6,709 4,964 33,215 72,725 15,000Water 19,533 23,731 25,045 25,436 25,436

TOTAL EXPENSES 939,989 844,709 1,057,798 929,469 1,047,950

NET INCOME 636,765 853,406 872,461 1,054,900 965,001

Estate legal in 16 and 17

3% Professional Management Fee

Owner was paying manager mobile home payment

New property taxes per Prop. 13 plus assessments and $30,394 sewer charge

COACHLAND www.coachlandrvpark.com

Summer 50 Amp-Daily $60, Weekly $360, Monthly $850 30 Amp-Daily $50, Weekly $300, Monthly $750 (cannot use air conditioner or electric heater) Winter Daily-$39, Weekly $234, Long Term Monthly $495, One Month Only $850 RV Park Notes: Portable 2 bath trailer located on space 19 during summer, no TOT in City of Truckee, front office software Campground Manager, ADA survey recently completed and the readily achievable improvements were completed, 16 rental park models were built between 1995-2011 and rents of $850-$950 are below market, rv park sells propane, RV occupancy is approximately 65% monthly/extended stay and 35% transient. The City of Truckee has put in miles of biking paths. The bike path system starts at Coachland and surrounding neighborhood. The bike path goes downtown and follows the river to Glenshire and soon to Floriston. Eventually the bike path will go all the way through Reno and terminate at Pyramid Lake in Nevada. MH Park Notes: Office Manager MH included-free space rent not in payroll amount, Operations Manager MH included-discounted rent at $900/month, 63 MH sites built 1994, 35 MH Sites built approximately 1972, turnover rent currently $775-$950, no long term leases, median sales price in Truckee the same as San Diego County and doublewide San Diego county mh parks have site rents of $1,000-$1,600. Upside to Offering: Add four new manufactured homes on the four mh sites that are built, permitted, and ready to go, upgrade to 50 amp electrical for the 87 RV sites with 30 amp electrical only, reasonable rental rates Seller’s Requested Purchase Price Allocation (subject to negotiation): Vehicles $50,000 Buildings $510,000 Furniture $150,000 Land Improvements $6,700,000 Land $4,800,000 Equipment $100,000 Mobile Homes and Park Models $650,000 Goodwill $6,240,000

09/04/2018 9:02AM FAX 5305876978 C O A C H L A N D 00001/0001

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(530) 587-307110100 Pioneer TrailTruckee, California

www.coachlandrvpark.com

LEGENDCD Dog Park

Office & ClubhouseShowers & RestroomsLaundromat

X) Doggie Bag DispenserDump Station

m.,tm Garbage DumpsterQ Guest ParkingQ Fish Cleaning Station

BoatStorage

A Vending MachinesOpen Space/Dog Walk

95 96 9790 91 92 93 94This row has 20amp service

82 81 80 79Cottonwood -f.

67 68 69jftg] 71 72This row has 20amp service

64 63 62 61

•06 "Wmll 48 49 50 51 52This row has 20amp service

2«r 27JBr28^r 29J^3(!g This row has 30/50amp service

ULflJPli0 19 18Cedarwood

This row has 30/50amp servicei

Picnic/BBQ/i Play AreaOffice &

ClubhouseYour Site Number is:

MobileHome Park

Map M not to scale

Real Estate Market Trends for Truckee, CA - Trulia https://www.trulia.com/real_estate/Truckee-California/market-trends/

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Real Estate Market Trends for Truckee, CA - Trulia https://www.trulia.com/real_estate/Truckee-California/market-trends/

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Rentometer, Inc.www.rentometer.comfeedback@rentometer.com

Rent AnalysisAddress: 10100 Pioneer Trail, Truckee, CA 96161

Report generated: 06 Sep 2018Radius: 3.00 mile2-bedroomMax age: 12 months

Rent

954

1436

1918

2400

2882

1,918

Results based on 10, 2-bedroom rentals seen within 12 monthsin a 3.00 mile radius

AVERAGE

±8%

MEDIAN $1,388–$2,625 $1,588–$2,325

The research and data included in this report is aggregated from a variety of sources and many are third parties that are not affiliated withRentometer, Inc. The information is believed to be accurate, but Rentometer, Inc. does not provide a warranty of any kind, eitherexpressed or implied.

Copyright ©2018 Rentometer, Inc.

Average rent near 10100 Pioneer Trail, Truckee, CA 96161 [2-bedroom] ... https://www.rentometer.com/analysis/2-bed/10100-pioneer-trail-truckee-...

1 of 1 9/5/2018, 7:56 PM