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  1. 1. B O L S A C H I C A S T R E E T 16444 A 167-SPACE MANUFACTURED HOUSING COMMUNITY LOCATED IN HUNTINGTON BEACH
  2. 2. Table of Table of Contents Contents 01 EXECUTIVE SUMMARY 02 PROPERTY OVERVIEW 03 FINANCIAL SUMMARY 04 MARKET COMPARABLES MARCUS & MILLICHAP CAPITAL CORPORATION DEBT QUOTE 05
  3. 3. Executive Executive Summary Summary THE OFFERING INVESTMENT HIGHLIGHTS LOCAL EMPLOYERS MARKET OVERVIEW SUMMARY OF TERMS 01
  4. 4. 6 EXECUTIVE SUMMARY Marcus & Millichap is pleased to present Skandia Mobile Country Club, a five-star, 55+ manufactured housing community located in Huntington Beach, CA. The offering presents a rare opportunity to acquire a trophy asset in one of Southern California’s most sought-after destinations. The community consists of 167 spaces, which are primarily double-wide and all tenant-owned homes. The park is on city water & sewer services, and includes amenities such as a clubhouse and pool. There are no local rent control ordinances within Huntington Beach, enabling a new owner to achieve significant upside by bringing the existing rents to reasonable market rates. Based on an analysis of manufactured home communities within this market of comparable quality, average market rents are $2,325, while existing lot rents at Skandia are significantly lower, averaging $1,099 per pad. The property is located 2 miles from the beach, and is within walking distance from a number of restaurants, entertainment venues and schools. The average home value in Huntington Beach is $946,271, having increased by 8.7% over the past year and expected to continue to grow over the coming years. This offering presents a unique opportunity for a buyer seeking a long-term hold, within one of the most attractive markets in Southern California. The The Offering Offering
  5. 5. 7
  6. 6. 8 Investment Investment Highlights Highlights EXECUTIVE SUMMARY
  7. 7. 9 GROWTH & UPSIDE POTENTIAL • Rents are significantly below market. Opportunity to raise existing rents to market over a reasonable period of time • No rent control ordinance in Huntington Beach • Average home value in Huntington Beach has increased by 26% in the past 5 years, and 8.7% over the past year alone CENTRALLY LOCATED • Less than 2 miles from the beach • Within walking distance to schools, entertainment venues, and restaurants TROPHY MHC ASSET • Five-Star, 167-space 55+ community located in Huntington Beach, CA • Primarily double wides • City Water & Sewer Services • Amenities such as Clubhouse & Pool • All Tenant-Owned Homes
  8. 8. 10 EXECUTIVE SUMMARY
  9. 9. 11 A seaside oasis in Orange County, Huntington Beach is a beach lover’s dream. The city is flanked by 8.5 long miles of stunning coastline, with year-round mild climate and exceptional surfing—it’s Surf City, USA after all! When it comes to the ideal California setting of surf, sand, and sun, Huntington Beach has it all. Huntington Beach offers the quintessential California lifestyle. With mentions in iconic surf tunes such as “Surfin’ Safari” by the Beach Boys, Huntington Beach cemented it’s notability for being home to some of the state’s cleanest and safest beaches. Residents of the city enjoy not only the amazing weather and beaches, but also a thriving economy with a number of employers offering solid jobs, a fantastic housing market with a wide array of home types, a strong educational system, and more. Its location in between Los Angeles and San Diego means residents are never too far from events in either city, but Huntington Beach also has its own offering of entertainment. With a wide selection of restaurants, nightlife, and events, Huntington Beach residents find themselves at the intersection of city perks and a surf culture. Huntington Beach Huntington Beach
  10. 10. 12 1 2 3 4 5 6 7 8 9 10 11 12 13 14 EXECUTIVE SUMMARY Boeing Quiksilver Cambro Manufacturing Verizon Hyatt Regency Resort & Spa C & D Aerospace Huntington Beach Hospital Fisher & Paykel Rainbow Environmental Services Home Depot Huntington Valley Healthcare Hilton Waterfront Beach Resort Cleveland Golf Walmart 1 2 3 4 5 6 7 8 9 10 11 12 13 14 Major Area Major Area Employers Employers
  11. 11. 13 QUIKSILVER OFFICES Sales 15.17% Office/Admin Support 13.25% Management 13.23% Business/Financial Ops 6.74% Healthcare Practitioner 6.11% Education/Training 5.87% Food Prep/Service 4.29% Construction/Extraction 3.76% Personal Care/Service 3.69% Production 3.39% Arts/Entertainment/Sports 3.27% Top Employment Top Employment Industries Industries Labor Force 122,800 Employed 117,700 Unemployed 5,200 Unemployment Rate 4.2% Employment Employment Numbers Numbers
  12. 12. 14 EXECUTIVE SUMMARY
  13. 13. 15 Address 16444 Bolsa Chica Street Huntington Beach, CA 92649 Price Open Bid APN 146-031-10 Spaces 167 Year Built 1963 Lot Size 17.35 AC SUMMARY INTEREST OFFERED 100% fee simple interest in a 167-space manufactured home community located at 16444 Bolsa Chica Street, Huntington Beach, CA 92649. TERMS OF THE SALE Property is being offered on a free and clear basis. PROPERTY TOURS Prospective purchasers are encouraged to visit the site prior to submitting offers. Please do not contact the on-site management or staff without prior approval. All property tours must be coordinated through the listing team and are subject to approval by ownership. Summary Summary of Sale of Sale
  14. 14. 16 EXECUTIVE SUMMARY REPAVE ROADS ENHANCE POOL AREA UPGRADE CLUBHOUSE OUTDOOR KITCHEN ADD CAR WASH CREATE DOG PARK Value-Add Value-Add Opportunities Opportunities
  15. 15. 17
  16. 16. Property Property Overview Overview THE OPPORTUNITY PROPERTY DETAILS PROPERTY PHOTOS 02
  17. 17. 20 PROPERTY OVERVIEW Constructed in 1963, Skandia Mobile Country Club is a five- star asset comprising 167 spaces, situated on 17.35 acres in Huntington Beach. This property is a 55+ senior community consisting of single, double, and triple wide homes. This unique trophy asset is in a non-rent-controlled market, located two miles away from the beach. Skandia offers its members an excellent clubhouse with a full kitchen, billiards, shuffleboard, pool, and spa­ —making it the perfect spot to entertain guests. Residents enjoy an array of activities as it is positioned within a ten-minute drive to shops, restaurants, and parks. Additionally, golfers enjoy the proximity to a nearby golf course, being only one mile away at the Meadowlark Golf Club. The The Opportunity Opportunity
  18. 18. 21 Property Property Details Details Name Skandia Mobile Country Club Address 16444 Bolsa Chica Street Huntington Beach, CA 92649 County Orange Spaces 167 Park Type 55+ APN 146-031-10 Land Use RPM (Mobile Home Park) Year Built 1963 Lot Size 17.35 AC Amenities Clubhouse, Pool, Spa, Full Kitchen, RV storage PROPERTY DESCRIPTION Water/Sewer/Trash City services, passed through to tenants, provided by the City of Huntington Beach Electricity Passed through to tenants, provided by Southern California Edison Gas Passed through to tenants, provided by Southern California Gas Company UTILITIES Single Wide 3 Double Wide 162 UNIT MIX Triple Wide 1 2.5 Wide 1
  19. 19. 22 PROPERTY OVERVIEW
  20. 20. 23
  21. 21. Financial Financial Summary Summary FINANCIAL ANALYSIS INCOME & EXPENSE SUMMARY ASSUMPTIONS RENT ROLL 03
  22. 22. 26 FINANCIAL SUMMARY Financial Financial Summary Summary List Price Open Bid Average Current Rent/Space $1,099 Current NOI $1,187,086 Market Rent/Space $2,195 Market NOI $3,242,528 PRICING
  23. 23. 27 Financial Financial Analysis Analysis PRICING List Price OPEN BID PROPERTY DETAILS Year Built 1963 APN 146-031-10 Lot Size 17.35 AC CURRENT RENTS PRO FORMA RENTS Unit Type Spaces Average Space Rent Monthly Income Average Space Rent Monthly Income Loss to Lease % MH Lot 167 $1,099 $183,576 $2,195 $366,565 99.68% ANNUALIZED OPERATING DATA CURRENT PRO FORMA Expenses Real Estate Taxes** 1.09927% TBD TBD Insurance $27,373 $27,373 Cleaning & Maintenance $12,925 $12,925 Dues & Subscriptions $3,327 $3,327 Rental Equipment $500 $500 Furnishings $4,728 $4,728 Repairs & Maintenance $200/space $33,400 $33,400 Office Expense $15,619 $15,619 Payroll * $60,000 $60,000 Permits & Licenses $6,176 $6,176 Professional Fees * $7,500 $7,500 Utilities $252,386 $252,386 Management Fee 3.5% $74,789 $149,339 TOTAL EXPENSES $498,722 $573,271 ANNUALIZED OPERATING DATA CURRENT PRO FORMA Gross Scheduled Rent $2,202,912 $4,398,780 Gain/Loss to Lease $2,195,868 $0 Less Vacancy 3% $66,087 3% $131,963 Effective Rental Income $2,136,825 $4,266,817 Utility Income $263,508 $263,508 Effective Gross Income $2,400,333 $4,530,325 Less Expenses $498,722 $573,271 NET OPERATING INCOME $1,901,611 $3,957,053 See page 27 for additional information regarding expenses and assumptions Property taxes are not included due to open bid sale. In California, due to Proposition 13, property taxes are recalculated based on the new purchase price. The tax rate within Huntington Beach is 1.099%. * **
  24. 24. 28 Income & Expense Income & Expense CURRENT PRO FORMA Average Space Rent $1,099 $2,195 REVENUE PER SPACE PER SPACE Gross Scheduled Rent $2,202,912 $13,191 $4,398,780 $26,340 Loss/Gain to Lease $2,195,868 $13,149 — — Vacancy (3%) $66,087 $396 $131,963 $790 EFFECTIVE RENTAL INCOME $2,136,825 $12,795 $4,266,817 $25,550 Utilities $263,508 $1,578 $263,508 $1,578 EFFECTIVE GROSS INCOME $2,400,333 $14,373 $4,530,325 $27,128 EXPENSES Real Estate Taxes** TBD TBD Insurance $27,373 $164 $27,373 $164 Cleaning & Maintenance $12,925 $77 $12,925 $77 Dues & Subscriptions $3,327 $20 $3,327 $20 Rental Equipment $500 $3 $500 $3 Furnishings $4,728 $28 $4,728 $28 Repairs & Maintenance ($200/space) $33,400 $200 $33,400 $200 Office Expense $15,619 $94 $15,619 $94 Payroll * $60,000 $359 $60,000 $359 Permits & Licenses $6,176 $37 $6,176 $37 Professional Fees * $7,500 $45 $7,500 $45 Utilities $252,386 $1,511 $252,386 $1,511 Management Fee (3.5%) $74,789 $448 $149,339 $894 TOTAL EXPENSES $498,722 $2,986 $573,271 $3,433 Expenses Per Space $2,986 $3,433 NET OPERATING INCOME $1,901,611 $3,957,053 FINANCIAL SUMMARY
  25. 25. 29 Assumptions Assumptions ECONOMIC VACANCY Economic vacancy is estimated to be 3% annually. While this park may not experience such vacancy, most lenders will use a minimum vacancy assumption of 3%,. LOSS-TO-LEASE There is significant upside to the existing under-market rents, with a loss to lease factor of 99%. UTILITY INCOME The following expenses are billed back to the tenants: water, gas, sewer trash. PROPERTY TAXES Property taxes are not included due to open bid sale. In California, due to Proposition 13, property taxes are recalculated based on the new purchase price. The tax rate within Huntington Beach is 1.099%. RENT CONTROL There is no rent control for manufactured housing communities within Huntington Beach. Therefore, our pro-forma rates are based on market rents from a comprehensive rent survey conducted in the immediate area. MANAGEMENT FEES Management fees for larger multifamily and manufactured housing assets range from 3-5%, based on the property’s gross revenue. Due to the size of this asset and gross income potential, we estimated an agency lender will use a management fee of 3.5%. OTHER EXPENSE ASSUMPTIONS Based on lender treatment for manufactured housing communities and our understanding of the asset at hand, the following expenses were either added or substituted to the existing operating expenses. • Repair & Maintenance is estimated at $200/space/year • Payroll expense estimated at $60,000/year • Professional expenses estimated at $7,500/year
  26. 26. 30 FINANCIAL SUMMARY Rent Roll Rent Roll UNIT TYPE CURRENT PRO FORMA 1 Double Wide $1,060 $2,195 2 Double Wide $1,060 $2,195 3 Double Wide $1,141 $2,195 4 Double Wide $1,335 $2,195 5 Double Wide $1,141 $2,195 7 Double Wide $1,425 $2,195 8 Double Wide $1,121 $2,195 10 Double Wide $938 $2,195 11 Double Wide $1,060 $2,195 12 Double Wide $1,016 $2,195 13 Double Wide $938 $2,195 14 Double Wide $1,365 $2,195 15 Double Wide $1,215 $2,195 16 Double Wide $1,060 $2,195 17 Double Wide $1,365 $2,195 18 Double Wide $961 $2,195 19 Double Wide $1,060 $2,195 20 Double Wide $1,335 $2,195 21 Double Wide $1,026 $2,195 22 Double Wide $1,215 $2,195 23 Double Wide $1,026 $2,195 24 Double Wide $1,141 $2,195 25 Double Wide $987 $2,195 26 Double Wide $918 $2,195 27 Double Wide $1,060 $2,195 28 Double Wide $1,060 $2,195 29 Double Wide $961 $2,195 30 2.5 Wide $595 $2,195 UNIT TYPE CURRENT PRO FORMA 31 Double Wide $1,100 $2,195 32 Double Wide $1,365 $2,195 33 Double Wide $1,365 $2,195 34 Double Wide $1,425 $2,195 35 Double Wide $918 $2,195 36 Double Wide $1,080 $2,195 37 Double Wide $1,141 $2,195 38 Double Wide $938 $2,195 39 Double Wide $918 $2,195 40 Double Wide $918 $2,195 41 Double Wide $1,121 $2,195 42 Double Wide $918 $2,195 43 Double Wide $1,121 $2,195 44 Double Wide $918 $2,195 45 Double Wide $1,141 $2,195 46 Double Wide $1,365 $2,195 47 Double Wide $987 $2,195 48 Double Wide $1,121 $2,195 49 Double Wide $1,215 $2,195 50 Double Wide $1,215 $2,195 51 Double Wide $1,080 $2,195 52 Double Wide $938 $2,195 53 Double Wide $938 $2,195 54 Double Wide $987 $2,195 55 Double Wide $961 $2,195 56 Double Wide $1,060 $2,195 57 Double Wide $1,425 $2,195 58 Double Wide $1,215 $2,195 UNIT TYPE CURRENT PRO FORMA 59 Double Wide $1,365 $2,195 60 Double Wide $1,121 $2,195 61 Double Wide $1,365 $2,195 62 Double Wide $938 $2,195 63 Double Wide $961 $2,195 64 Double Wide $961 $2,195 65 Double Wide $987 $2,195 66 Double Wide $1,365 $2,195 67 Double Wide $938 $2,195 68 Double Wide $1,086 $2,195 69 Double Wide $1,026 $2,195 70 Single Wide $918 $2,195 71 Double Wide $987 $2,195 72 Double Wide $938 $2,195 73 Double Wide $987 $2,195 74 Double Wide $961 $2,195 75 Double Wide $961 $2,195 76 Double Wide $961 $2,195 77 Double Wide $1,141 $2,195 78 Double Wide $1,215 $2,195 79 Double Wide $961 $2,195 80 Double Wide $918 $2,195 81 Double Wide $1,425 $2,195 82 Double Wide $1,365 $2,195 83 Double Wide $918 $2,195 84 Double Wide $961 $2,195 85 Double Wide $918 $2,195 86 Double Wide $1,365 $2,195
  27. 27. 31 UNIT TYPE CURRENT PRO FORMA 87 Double Wide $1,365 $2,195 88 Double Wide $1,026 $2,195 89 Double Wide $1,080 $2,195 90 Double Wide $1,425 $2,195 91 Double Wide $1,060 $2,195 92 Single Wide $918 $2,195 93 Double Wide $1,100 $2,195 94 Double Wide $938 $2,195 95 Double Wide $961 $2,195 96 Single Wide $938 $2,195 97 Double Wide $1,141 $2,195 98 Double Wide $1,435 $2,195 99 Double Wide $1,365 $2,195 100 Double Wide $1,100 $2,195 101 Double Wide $1,365 $2,195 102 Double Wide $987 $2,195 103 Double Wide $1,060 $2,195 104 Double Wide $1,365 $2,195 105 Double Wide $918 $2,195 106 Double Wide $1,080 $2,195 107 Double Wide $938 $2,195 108 Double Wide $1,060 $2,195 109 Double Wide $987 $2,195 110 Double Wide $987 $2,195 111 Double Wide $987 $2,195 112 Double Wide $1,365 $2,195 113 Double Wide $961 $2,195 114 Double Wide $1,365 $2,195 UNIT TYPE CURRENT PRO FORMA 115 Double Wide $1,141 $2,195 116 Double Wide $1,080 $2,195 117 Double Wide $1,046 $2,195 118 Double Wide $1,026 $2,195 119 Double Wide $1,100 $2,195 120 Double Wide $961 $2,195 121 Double Wide $1,080 $2,195 122 Double Wide $1,425 $2,195 123 Double Wide $987 $2,195 124 Double Wide $961 $2,195 125 Double Wide $1,425 $2,195 126 Double Wide $1,425 $2,195 127 Double Wide $938 $2,195 128 Double Wide $918 $2,195 129 Double Wide $1,026 $2,195 130 Double Wide $1,365 $2,195 131 Double Wide $1,026 $2,195 132 Double Wide $1,141 $2,195 133 Double Wide $938 $2,195 134 Double Wide $961 $2,195 135 Double Wide $1,365 $2,195 136 Double Wide $987 $2,195 137 Double Wide $1,365 $2,195 138 Double Wide $1,365 $2,195 139 Double Wide $1,026 $2,195 140 Double Wide $1,026 $2,195 141 Double Wide $1,425 $2,195 142 Double Wide $1,045 $2,195 UNIT TYPE CURRENT PRO FORMA 143 Double Wide $987 $2,195 144 Double Wide $1,121 $2,195 145 Double Wide $1,215 $2,195 146 Double Wide $1,365 $2,195 147 Double Wide $938 $2,195 148 Double Wide $1,060 $2,195 149 Double Wide $1,425 $2,195 150 Double Wide $1,121 $2,195 151 Double Wide $1,215 $2,195 152 Double Wide $1,100 $2,195 153 Double Wide $1,121 $2,195 154 Double Wide $1,121 $2,195 155 Double Wide $1,365 $2,195 156 Double Wide $938 $2,195 157 Triple Wide $987 $2,195 158 Double Wide $961 $2,195 159 Double Wide $938 $2,195 160 Double Wide $1,215 $2,195 161 Double Wide $1,121 $2,195 162 Double Wide $1,046 $2,195 163 Double Wide $938 $2,195 164 Double Wide $1,046 $2,195 165 Double Wide $918 $2,195 166 Double Wide $938 $2,195 167 Double Wide $1,365 $2,195 168 Double Wide $1,060 $2,195 169 Double Wide $1,046 $2,195 167 $183,576 $366,565
  28. 28. Market Market Comparables Comparables RENT COMPARABLES SALES COMPARABLES 04
  29. 29. 34 MARKET COMPARABLES 1 2 3 4
  30. 30. 35 Rent Comparables Rent Comparables PROPERTY YEAR BUILT SPACES OCCUPANCY SPACE RENT ALL AGES OR 55+ COMMUNITY AMENITIES NOTES DISTANCE SKANDIA MOBILE COUNTRY CLUB 16444 Bolsa Chica St Huntington Beach, CA 92649 1963 167 100% $1,425 55+ Clubhouse, Billiards Room, Shuffleboard, Event Space, Pool, Spa, Full Kitchen, RV Storage 1 HUNTINGTON SHORECLIFFS 20701 Beach Boulevard Huntington Beach CA 1973 304 98% $2,250 All Ages Clubhouse, Multiple Pools, Spa, Exercise Center, Laundry, Game Room With Billiards and Shuffleboard, Event Center, RV storage This is not applicable to POH rents 5.27 mi 2 SURF CITY BEACH COTTAGES 80 Huntington St Huntington Beach CA 1942 264 100% $2,300 All Ages Clubhouse, Pool, Spa, Exercise Center, Laundry, Event Center Car Wash, RV Storage This is not applicable to POH rents 5.44 mi 3 RANCHO HUNTINGTON MOBILE PARK 19361 Brookhurst St Huntington Beach CA 1965 194 100% $2,350 All Ages Clubhouse, Pool, Event Center, Laundry, Game Room With Billiards, Library 5.7 mi 4 HUNTINGTON BY THE SEA MOBILE ESTATES 21851 Newland St Huntington Beach CA 1969 306 100% $2,400 All Ages Clubhouse, Pool, Spa, Exercise Center, Game Room With Billiards, Laundry 6.28 mi AVERAGE 1962 267 99.5% $2,325 1 4 3 2
  31. 31. 36 MARKET COMPARABLES MARKET COMPARABLES 1 2
  32. 32. 37 Sales Comparables Sales Comparables PROPERTY YEAR BUILT SPACES OCCUPANCY SALES PRICE PRICE/ SPACE SALE DATE ALL AGES OR 55+ AMENITIES NOTES DISTANCE SKANDIA MOBILE COUNTRY CLUB 16444 Bolsa Chica St Huntington Beach, CA 92649 1963 167 100% Open Bid 55+ Clubhouse, Billiards Room, Shuffleboard, Event Space, Pool, Spa, Full Kitchen, RV Storage 1 HUNTINGTON BY THE SEA & CABRILLO MOBILE ESTATES 21851 Newland St Huntington Beach CA 1969 441 100% $194,800,000 $441,723 9/30/20 All Ages Clubhouse, Pool, Spa, Exercise Center, Game Room With Billiards, Laundry This was a portfolio sale 6.28 mi 2 TRADE WINDS MOBILE HOME PARK 2131 Harbor Blvd Costa Mesa, CA 92627 1954 73 100% $19,425,000 $266,096 9/4/20 All Ages None 8.57 mi AVERAGE 1958 $353,910 1 2
  33. 33. Marcus & Marcus & Millichap Millichap Capital Capital Corporation Corporation Debt Quote Debt Quote 05
  34. 34. 40 MARCUS & MILLICHAP CAPITAL CORPORATION DEBT QUOTE OPTION 1 OPTION 2 OPTION 3 Bank 5-Year Fixed Bank 7-Year Fixed Bank 10-Year Fixed INTEREST-ONLY PERIOD 0-3 Years 0-3 Years 0-3 Years FIXED PERIOD 5 Years 7 Years 10 Years AMORTIZATION 30 Years 30 Years 30 Years INTEREST RATE (3/24/2021) 3.20% 3.25% 3.55% ACTUAL DSCR 1.20X 1.20X 1.20X MINIMUM DSCR 1.20X 1.20X 1.20X PREPAY 3,3,2,2,1% 4,3,3,2,2,1,0% 5,5,4,4,3,3,2,2,1,1% Marcus & Millichap Marcus & Millichap Capital Corporation Capital Corporation Debt Quote Debt Quote
  35. 35. 41 OPTION 4 OPTION 5 OPTION 6 Agency Tier 2 Agency Tier 3 Agency Tier 4 Up to 5 Years Up to 10 Years Up to 10 Years 10 Years 10 Years 10 Years 30 Years 30 Years 30 Years 3.39% 3.29% 3.09% 1.25X 1.35X 1.55X 1.25X 1.35X 1.55X Yield Maintenance Yield Maintenance Yield Maintenance OPTION 1 OPTION 2 OPTION 3 Agency Tier 2 Agency Tier 3 Agency Tier 4 Up to 5 Years Up to 5 Years Up to 7 Years 7 Years 7 Years 7 Years 30 Years 30 Years 30 Years 3.10% 2.99% 2.79% 1.25X 1.35X 1.55X 1.25X 1.35X 1.55X Yield Maintenance Yield Maintenance Yield Maintenance
  36. 36. CONFIDENTIALITY & DISCLAIMER The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap Real Estate Investment Services, Inc. and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Marcus & Millichap is a service mark of “Marcus & Millichap Real Estate Investment Services, Inc. © 2021 Marcus & Millichap. All rights reserved. NON-ENDORSEMENT NOTICE Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers. ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT LISTING AGENT FOR MORE DETAILS. SPECIAL COVID-19 NOTICE All potential buyers are strongly advised to take advantage of their opportunities and obligations to conduct thorough due diligence and seek expert opinions as they may deem necessary, especially given the unpredictable changes resulting from the continuing COVID-19 pandemic. Marcus & Millichap has not been retained to perform, and cannot conduct, due diligence on behalf of any prospective purchaser. Marcus & Millichap’s principal expertise is in marketing investment properties and acting as intermediaries between buyers and sellers. Marcus & Millichap and its investment professionals cannot and will not act as lawyers, accountants, contractors, or engineers. All potential buyers are admonished and advised to engage other professionals on legal issues, tax, regulatory, financial, and accounting matters, and for questions involving the property’s physical condition or financial outlook. Projections and pro forma financial statements are not guarantees and, given the potential volatility created by COVID-19, all potential buyers should be comfortable with and rely solely on their own projections, analyses, and decision-making.)
  37. 37. B O L S A C H I C A S T R E E T 16444 A 167-SPACE MANUFACTURED HOUSING COMMUNITY LOCATED IN HUNTINGTON BEACH
  38. 38. JEFF BENSON Senior Vice President Investments Director, National Multi Housing Group Direct | 310.909.5420 jeff.benson@marcusmillichap.com License: CA 01327285 SAM NEUMARK Investment Sales Associate Direct | 310.909.5433 samuel.neumark@marcusmillichap.com License: CA 02090800 B O L S A C H I C A S T R E E T 16444

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