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Investment Overview

This portfolio consists of two communities located in the city of Auburn, NE. The portfolio is comprised of 40 lots, 30 of which are currently occupied by paying tenants. Both properties are served by public utilities, with the ownership paying for and billing back water. Currently there is only one parked owned home in the portfolio, with the other 29 homes owned by the tenants.

Huntington MHC

Huntington MHC is located at 1405 26th St Auburn, NE and consists of 16 lots. Currently there are currently 12 paying tenants on site (75% economic occupancy)

Terrace MHC

Terrace MHC is located at 72872 638th Ave. in Auburn, NE and consists of 24 lots. Currently there are 18 occupied tenant owned homes on site. (75% economic occupancy).

Lot Rent

Current lot rent across the two properties is an average of $362. This offers new ownership the opportunity to raise lot rent slightly to a targeted average of $400 per month, increasing the NOI by over $20,000 within their first year of ownership.

Management

Current ownership has an on site manager in place and does the remainder of the management from out of state. This offers new ownership an easy transition whether they are local or out of state investors.

Auburn, Nebraska

Auburn, Nebraska is home to nearly 3,500 people and is located 60 miles directly south from Omaha. The median household income is about $60,000, with 38% of residents currently renting their homes.
The largest employment industries in Auburn are Utility Services (14.8%), Educational Services (12.6%), and Manufacturing (11.2%). The largest employers in the area include: Peru State College, Nebraska Public Power Nuclear Station, and FAST Global Solutions.