Applewood Estates is an all age community with 45 lots, 38 of which are currently occupied (84% occupancy). The property consists of 37 Tenant Owned Homes and 1 Park Owned Home. There is the potential of developing an additional five to ten lots if a new owner wishes to further expand the property. Currently lot rent is $375 which is slightly below market, offering new ownership upside within the first year of ownership. Current ownership pays for trash service which could be billed back to residents, lowering operating expenses by an estimated 5%. Water and Sewer are direct billed to residents with ownership paying for the overages between the master and sub meters. The property is currently managed by an off site manager who is paid $300 per month.

The property is served by 100% public utilities, with current ownership paying for trash service, water overages, and security lighting. Water, sewer, gas, and electric, are all direct billed to residents. The community streets are gravel. Contact Broker for additional details.

There are two communities located in Auburn, Nebraska included in this portfolio (Huntington MHP and Terrace MHP). 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 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).

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.

Both properties are served by public utilities, with the ownership paying for and billing back water. Trash, electric, and natural gas are all directly billed to the tenants. The roads are gravel and are maintained by the community owner.