VALLEY BROOK MHC - MobileHomeParkStore.com Oaks and...MKT MH RENT $459 (Includes Water, Sewer & ......
Transcript of VALLEY BROOK MHC - MobileHomeParkStore.com Oaks and...MKT MH RENT $459 (Includes Water, Sewer & ......
SHERMAN OAKS MHC 1144 SHERMAN BLVD. JACKSON, MI 49201
VALLEY BROOK MHC
4620 S. HIGH SCHOOL RD. INDIANAPOLIS, IN 46241
2 MH COMMUNITIES - 1,164 TOTAL SITESTOTAL PRICE: TBD BY MARKET
TERMS: ALL CASHOFFERED INDIVIDUALLY OR AS A PACKAGE
For a video tour of Sherman Oaks, please visit: http://youtu.be/RNKNwRHJw70
For a video tour of Valley Brook, please visit: http://youtu.be/9JB7K65LSvg
SHERMAN OAKS Community/Homes/Notes Price : TBD by Market Terms: All Cash
SHERMAN OAKS SITE INFORMATION
ADDRESS 1144 Sherman Blvd.Jackson, MI 49201
COUNTY Jackson
TAX PARCEL ID 000-03-33-476-001-01
SITES 366
COMMUNITY TYPE All Age
YEAR BUILT 1973-1991 in phases
COMBINED LAND SIZE & DENSITY 107.96 Acres (3.39 sites/acre)
INVENTORY HOMES76 as of May ’14 with a cost of $2,514,978 (73 Occ lease with option to buy Homes & 3 vacant)
HOME NOTES 6 as April ’14 (Current balance of $45,596)
MH PHYS OCC 75.1% (275 as of May ’14)
MH ECO. OCC 73.5% (269 as of May ’14)
MKT MH RENT $459 (Includes Water, Sewer & Trash)
AVG IN-PLACE MH RENT
$452 (Includes Water, Sewer & Trash)
LAST RENT INCREASE $10 (April 2014)
ROADS Asphalt
SCHOOL DISTRICT Jackson ISD
ZONING Commercial
FLOODPLAIN No
UTILITIES
WATER 3 Private Wells
SEWER 2 Waste Water Disposal Lagoons
ELECTRICITY Consumers Energy (direct billed to tenants)
GAS Consumers Energy
TRASH Allied Waste
366 SITE MH COMMUNITYTOTAL PRICE: TBD BY MARKET
TERMS: ALL CASHOFFERED INDIVIDUALLY OR AS A PACKAGE
• Sherman Oaks is conveniently located just 15 minutes from downtown Jackson, MI and 30 minutes from the Waterloo State Recreation Area, which boasts four campgrounds, 11 fishing lakes, horseback riding trails and nearly 50 miles of hiking trails.
• The property lies less than 40 minutes away from the Michigan International Speedway - the fastest NASCAR track and venue of the NASCAR Sprint Cup.
• Lansing, the state capital of Michigan, is a short 30 minute drive away, and features a multitude of museums, theaters, parades and a zoo.
• Ann Arbor is just 40 miles to the East, home of the University of Michigan’s main campus.
• The local elementary and middle schools are within 5 miles of the property.
• Entertainment and shopping are nearby with the Airport Lanes bowling alley, the Michigan Theatre of Jackson, and two major shopping malls including Jackson Crossing, home to Sears, Target, Kohl’s, Toys “R” Us, Best Buy, TJ Maxx and Bed Bath & Beyond.
• Several major employers in Jackson include CMS Energy, which provides electricity to most of Michigan, Allegiance Health, which employs 3,700, Consumers Energy, which employs 2,400 and Cooper Street Correctional Facility.
INVESTMENT HIGHLIGHTS
AREA HIGHLIGHTS
• Great opportunity to purchase a stable 3 star community with upside within an attractive low density layout located in Jackson, MI.
• Community should qualify for a very attractive non-recourse loan at historically low rates.
• Tremendous upside potential to fill vacant sites. Park currently has strong demand from potential tenants but few homes to accommodate them.
• Recourse agreement in place with 21st Mortgage that must be assumed by new buyer (22 Occupied 21st homes currently in place).
• Outstanding amenity package that includes a clubhouse with a fitness center, a pool and a basketball court.
• Offering includes 76 inventory homes offered at cost and 6 home notes offered at the current balance.
SHERMAN OAKS PHOTOS
366 SITE MH COMMUNITYTOTAL PRICE: TBD BY MARKET
TERMS: ALL CASHOFFERED INDIVIDUALLY OR AS A PACKAGE
SHERMAN OAKS FINANCIAL ANALYSIS
1
2 Gross Scheduled Rent
Less: VacancyLess: Vacant InventoryLess: Bad DebtLess: Concessions
7 Less: OtherTotal Rental Income
3 Plus: Utility Income3 Plus: Other Income
Total Other IncomeEffective Gross Income
EXPENSESRepairs & Maintenance
8 PayrollAdministrativeMarketingProfessional Fees
4 Utilities Electricity Water Sewer Gas TrashTotal Variable Expenses
5 TaxesOther TaxInsuranceManagement FeeTotal Operating Expenses
6 Plus: Capital ReservesTotal Expenses
NET OPERATING INCOME
Proforma
Financial Analysis
2012 2013 March'14 T12
$1,961,726$1,951,460
24.86%
2.00%
INCOME
34,27987,486
$1,907,578
10,145
474,15038,090
$1,263,42966.23%
1.80%
4.59%
0.53%
047,625
0
130
47,625
$1,178
$1,178 $431,118
$879,935 $878,779$866,701
130
$1,311,053
0
260
27
20,300
0$1,284
00.00% 0.00%$1,284$1,292
0
0$472,904
00
$472,904$1,292
0.00%
$470,082
$470,0820
14,71240
Actual Expper site
$150
353
65
17
16
55
53
28 10,364
14,7124036
$855
19
$334,893
1819,560
100
10,053
$338,827299
129,136
9,930
38,338
10,071
62
58
105$926
2795,086 110,424
36,486
21,75321,164
302109,294
6,58238,151
6,923
$312,794
7628,418
25,45715
13,308
0$431,118
22,66611,993
$150
Actual Exp
$54,734per site
6,062 15,35427,918
346
54,974
5,703
23,880126,508123,779
$146 $53,462Actual Exp
54,722
$1,348,861
065.96% $1,293,887
54,974
0.84%
4.29%48,158
16,453
53,507465,576
84,145
465,48559,499
$1,287,7100
51,895
38,75982,66517,341
51,895$1,339,605
1.99%
4.24%
0.89%
23.85%
3.05%
65.99%
0
142
per site
338
33
142
23.73%
2.73%
2.45%
0
150
78
70
28
10,92959
150
36324,059
25,361
66
69
30
$915104
6,38917
0.82%
2.00%
4.25%
0.85%
24.86%
155
67.22%
0
per site
$150
155
71
31
61
350
75
15
50
27
18
107$929
332
35$1,479
40
3.00%$1,444
$2,015,928
501,16016,53140,31985,67717,135
56,623
$1,355,1070
$1,411,730
Proforma Exp
$54,900
56,623
26,12211,25722,406
128,10027,450
5,49018,300
$528,567
6,58139,296
$339,900121,548
10,05314,71342,352
12,810$541,377
$870,353
1. Actual 2012, 2013, and March’14 T12 numbers provided by the client and include land lease operations only.
2. Proforma UW GSR based off the April’14 Rent Roll.
3. Other Income grown 3% from March’14 T12. There is no utility income.
4. Adjusted Utilities grown 3% from March’14 T12.
5. Proforma Taxes = 2014 Taxable value of $2,337,487 X 2013 tax rate (4.7272%) grown by 10%.
6. Capital Reserves numbers do not reflect actual expense.
7. Other rent deductions includes Repossessed Homes and In Lieu of Inventory.
8. Payroll includes salary, wages, payroll taxes, workers comp and health benefits for 1 community manager with full benefits, 1 office coordinator with dental, 1 maintenance with no benefits and seasonal employees. Health benefits costs allocation averaged ~ $11,660 for 2012, 2013 and March’ 14 T-12.
UNDERWRITING ASSUMPTIONS
366 SITE MH COMMUNITYTOTAL PRICE: TBD BY MARKET
TERMS: ALL CASHOFFERED INDIVIDUALLY OR AS A PACKAGE
SHERMAN OAKS RENT COMPS
12
3
1 English Meadows 3977 Sherwood Lakes Blvd., Jackson, MI 49201 304 84% $405 W/S/T $375
2 Walnut Ridge 3201 Hawthorn Dr., Jackson, MI 49201 248 53% $445 W/S/T $400
3 Windham Hills 4020 County Farm Rd., Jackson, MI 49201 365 96% $438 W/S/T $398
Nearby Communities Average 306 80% $429 $391
Rent IncludesAddress
Sherman Oaks
RENT COMPARABLES
$459 W/S/T $398
Subject Property#
Note: Information from Market Survey - Water, Sewer, and Trash (W/S/T) amounts vary by community
Nearby Communities
1144 Sherman Blvd., Jackson, MI 49201
PhysicalOccupancy
366 75%
Adjusted RentSites Av. Mkt Rent
366 SITE MH COMMUNITYTOTAL PRICE: TBD BY MARKET
TERMS: ALL CASHOFFERED INDIVIDUALLY OR AS A PACKAGE
SHERMAN OAKS AREA AERIAL
VAN HORN RD
W PARNALL RD
W PARNALL RDSPRINGPORT RD
BRILLS LAKE RD
W MICHIGAN AVE
PAGE AVE
BUNKERHILL RD
COO
PER
ST
LAN
SING
AVE
RIVES JUN
CTION
RD
CLINTO
N RD
W MICHIGAN AVE
E MICHIGAN AVEJACKSON
Baker College
SPRINGPORT RD
JACKSON COUNTYAIRPORT
NorthwestElementary School
ParnallElementary School
RW KidderMiddleSchool
Duane WatersHospitalJackson Crossing/Westwood Mall
BT h e B e s t S e a t I n T o w n
Taking Care of Business
94
94
127
127
127
127
60
WATERLOO STATERECREATION AREA
COOPER STREETCORRECTIONAL FACILITY
366 SITE MH COMMUNITYTOTAL PRICE: TBD BY MARKET
TERMS: ALL CASHOFFERED INDIVIDUALLY OR AS A PACKAGE
Consumers Energy• The principal subsidiary of CMS Energy, Consumers Energy provides natural gas and electricity to 68% of Michigan’s
population.
• The company recently partnered with the city’s governor in the Anchor Initiative to renew the downtown economy and plans to open an R&D center in the Woolworth building downtown.
Allegiance Health System• Allegiance Health, a community owned company, offers quality health care to individuals throughout South Central
Michigan. In 2013, Healthgrades awarded them the Patient Safety Excellence Award, denoting it among the top 5% of all hospitals with regards to patient safety.
• With 3,620 employees, or over 18% of the cities labor force, Allegiance is the largest employer in the area.
Eaton Corporation• Eaton aids businesses and individuals in the sustainable and safe management of electric, mechanical and hydraulic
power.
• The company has joined other large businesses in supporting the Anchor Initiative – an effort to revitalize the downtown area.
Westwood Mall• Anchored by a Walmart Supercenter, JCPenney and Younkers, and home to over 50 stores, Westwood mall offers
numerous shopping and employment opportunities.
• The mall spans 510,000 square feet and is managed by Rouse Properties.
SHERMAN OAKS LOCATION MAP & DEMOGRAPHICS
WISCONSINILLINOIS
MIC
HIG
AN
WISC
ON
SIN
CANADA
USA
OH
IOIN
DIA
NA
IND
IAN
AILLIN
OIS
MICHIGAN88
90
43
43
96
94
94
69
69
75
94
94
5565
90
90
7175
80
8057
89
2
25MANISTEENATIONAL
FOREST
LAKEMICHIGAN LAKE
ST. CLAIR
LAKEHURON
LAKE ERIE
31
41
131
23
12
127
127
224
10
FLINTGRAND RAPIDS
ANN ARBOR
SOUTH BEND
FORT WAYNE
TOLEDO
LANSING
DETROIT
CHICAGO
MILWAUKEE
CLEVELAND
366 SITE MH COMMUNITYTOTAL PRICE: TBD BY MARKET
TERMS: ALL CASHOFFERED INDIVIDUALLY OR AS A PACKAGE
SHERMAN OAKS DEMOGRAPHIC INFORMATION 1 mile 3 mile 5 mile
2014 Population Estimate 905 7,010 28,382
2014 Est. Average Family Household Income $66,697 $63,283 $52,389
2014 Est. Median Owner-Occupied Housing Value $113,151 $121,747 $106,720
Renter Occupied Percentage 18.71% 14.55 % 34.07%
Owner Occupied Percentage 80.99% 85.49% 65.92%
Source: 2014 Claritas, Inc.
SHERMAN OAKS SITE PLAN
LANSING AVE
366 SITE MH COMMUNITYTOTAL PRICE: TBD BY MARKET
TERMS: ALL CASHOFFERED INDIVIDUALLY OR AS A PACKAGE
VALLEY BROOK SITE INFORMATION
ADDRESS 4620 S. High School Rd. Indianapolis, IN 46241
COUNTY Marion
TAX PARCEL ID2006514/2008544/2001341/2000900/2000901/2000902/2000903/2008873
SITES 798
COMMUNITY TYPE All Age
YEAR BUILT 1973-1998 in phases
COMBINED LAND SIZE & DENSITY 130.02 acres (6.14 sites/acre)
INVENTORY HOMES147 as of May ’14 with a cost of $4,050,106 (140 Occ lease with option to buy homes & 7 vacant)
HOME NOTES 2 as of March ’14 (Offered at current balance of $12,669)
MH PHYS OCC 52.4% (418 as of May ’14)
MH ECO. OCC 51.1% (408 as of May ’14)
MKT MH RENT $437 (includes trash and July rent increase)
AVG IN-PLACE MH RENT $430 (includes trash)
RENT INCREASE $9 (Scheduled July 2014)
ROADS Asphalt (some curbs; overhead streetlights)
ZONINGDwelling District 3, Dwelling District 11 and Light Industrial Suburban District (D3, D11, I25)
SCHOOL DISTRICT MSD Of Decatur Township
FLOODPLAIN No
UTILITIES
WATER Indianapolis Water Co. (submetered billed back to tenants)
SEWER Indianapolis Water Co. (submetered billed back to tenants)
ELECTRICITY Indianapolis Power & Light (direct billed to tenants)
GAS City of Indianapolis/Marion County Public Works
TRASH Citizens Gas
VALLEY BROOK
798 SITE MH COMMUNITYTOTAL PRICE: TBD BY MARKET
TERMS: ALL CASHOFFERED INDIVIDUALLY OR AS A PACKAGE
Community/Homes/Notes Price : TBD by Market Terms: All Cash
• Valley Brook is conveniently located just 15 minutes from the heart of downtown Indianapolis, the state capital of Indiana and 13th largest US city with a population in the MSA of nearly 1.8 million.
• Public bus transport sits a short five minute walk from the property and will take you directly to downtown shopping and entertainment with no transfers.
• Indianapolis features many famous sporting events including the Indianapolis 500, Brickyard 400 and NHRA US Nationals.
• The local elementary, middle and high schools are all within walking distance of the property.
• A multitude of large companies are headquartered in Indianapolis including Eli Lilly, Brightpoint, Wellpoint, Marsh Supermarkets, Finish Line, hhgregg, Inc. and many others.
• The unemployment rate in Indianapolis for March 2014 was 5.6%, well below the national rate of 6.8%.
• The community is in close proximity to numerous major thoroughfares including Interstate 70, which cuts through the center of Indianapolis.
• Minutes from the Indianapolis International Airport, the second largest hub in the world for FedEx, and the 8th largest cargo center in the U.S.
INVESTMENT HIGHLIGHTS
AREA HIGHLIGHTS
• Rare opportunity to purchase an extremely high quality 4 star community within the Indianapolis MSA.
• Community should qualify for very attractive non-recourse debt at historically low rates.
• Tremendous upside potential to fill vacant sites. Park currently has strong demand from potential tenants but few homes to accommodate them.
• Recourse agreement with in place with 21st Mortgage that must be assumed by new buyer (30 Occupied 21st homes currently in place).
• Outstanding amenity package that includes a clubhouse, 2 swimming pools, 2 basketball courts, 2 playgrounds, and RV storage.
• Offering includes 147 inventory homes offered at cost and 2 home notes offered at the current balance.
VALLEY BROOK PHOTOS
798 SITE MH COMMUNITYTOTAL PRICE: TBD BY MARKET
TERMS: ALL CASHOFFERED INDIVIDUALLY OR AS A PACKAGE
VALLEY BROOK FINANCIAL ANALYSIS
2 Gross Scheduled Rent
Less: VacancyLess: Vacant InventoryLess: Bad DebtLess: Concessions
7 Less: OtherTotal Rental Income
3 Plus: Water & Sewer Income3 Plus: Other Income
Total Other IncomeEffective Gross Income
EXPENSESRepairs & Maintenance
8 PayrollAdministrativeMarketingProfessional Fees
4 Utilities Electricity Water & Sewer Gas TrashTotal Variable Expenses
5 TaxesInsuranceManagement FeeTotal Operating Expenses
6 Plus: Capital ReservesTotal Expenses
NET OPERATING INCOME
Proforma
Financial Analysis
2012 2013 March'14 T12
$4,075,468$4,054,09945.12%
1.67%
INCOME
65,712132,810
$3,979,864
16,666
1,795,75866,414
$1,902,50447.80%
1.65%
3.34%
0.42%
205,83388,104
258
110
293,938
$1,196
$1,196 $954,548
$1,241,894 $1,214,636$1,243,484
368
$2,196,442
0
328
32,320
0
$1,212
00.00% 0.00%
$1,212$1,1900
0$949,430
00
$949,430$1,190
0.00%
$966,862
$966,8620
32,07640
Actual Expper site
$109
318
43
6
14
41
240 191,443
32,0764036
$832
3
$709,237
2
60
$693,484281
254,128
51,682
40
65
$869
261,675 225,549
47,752
283223,870
1,34952,229
2,069
$663,857
3025,118
14,29614
29,016
0$954,548
31,777212,311
$154
Actual Exp
$122,662per site
4,452 1311,04223,705
267
290,911
11,016
34,570212,780222,527
$161 $128,190Actual Exp
86,826
$2,181,497
193,63346.39% $1,890,587
97,278
0.83%
2.92%71,639
33,664
59,2691,901,478
118,831
1,875,00159,699
$1,903,802198,69590,417
59,956121,04234,600
289,112$2,192,914
1.48%
2.99%
0.85%
46.25%
1.47%
46.96%
249
113
per site
279
266
362
46.66%
1.45%
1.76%
243
122
31
18
230,760
365
10,11416,374
32,667
21
41
289
$88965
2,4173
0.75%
1.50%
3.00%
0.50%
47.62%
126
46.63%
332
per site
$160
458
42
332
275
30
10
20
3
67
$940289
25
$1,381
40
3.00%
$1,356
$4,187,489
1,994,08231,40662,812
125,62520,937
100,197
$1,952,626265,239
$2,318,062Proforma Exp
$127,680
365,436
33,647264,930
219,45023,9407,980
15,960
$1,082,079
2,48953,795
$749,872230,58632,08069,542
19,950$1,102,029
$1,216,032
1. Actual 2012, 2013, and March’14 T12 numbers provided by the client and include land lease operations only.
2. Proforma UW GSR includes a $9 rent increase for July’14.
3. Other Income grown 3% from March’14 T12. Historically water/sewer reimbursement has been ~100% of expense. Due to abnormally harsh winter in 2013/2014, spring repairs were necessary for water meters (~60) and main line breaks. As a result of that work, PF assumes reimbursement goes back to ~100%.
4. Adjusted Utilities based on 2014 budget and account for anticipated cost increase through the city. The increased expenses will be passed through to tenants.
5. Proforma Taxes = 2014 Taxable value of $9,658,800 X 2013 tax rate (2.3178%) grown by 3%.
6. Capital Reserves numbers do not reflect actual expense.
7. Other rent deductions includes Repossessed Homes and In Lieu of Inventory.
8. Payroll includes salary, wages, payroll taxes, workers comp and health benefits for 1 community manager with no benefits, 1 office coordinator with dental, 1 office coordinator with no benefits, 1 maintenance with no benefits, 1 maintenance with dental and vision and seasonal employees. Health benefits cost allocation decreased from $20,606 in March 2013 to $15,851 in March 2014 due to manager electing no benefits in 2014.
UNDERWRITING ASSUMPTIONS
798 SITE MH COMMUNITYTOTAL PRICE: TBD BY MARKET
TERMS: ALL CASHOFFERED INDIVIDUALLY OR AS A PACKAGE
VALLEY BROOK RENT COMPS
1
2
3
4
5
1 Countryview 1199 Hospital Rd., Franklin, IN 46131 283 39% $466 T $449
2 Greenwood Estates 1598 US Hwy 31 South, Greenwood, IN 46143 591 72% $494 T $477
3 North Glen Village 18200 US Hwy 31 North, Westfield, IN 46074 289 80% $390 None $390
4 Pebble Creek 225 Pebble Creek Dr., Greenwood, IN 46143 257 94% $442 None $442
5 West Glen Village 1207 Rushmore Blvd. East, Indianapolis, IN 46243 552 77% $432 T $415
Indianapolis Area Communities Average 394 71% $445 $435
Physical Occupancy
798 52%
Adjusted RentSites Av. Rent
Note: Some information from 2013 JLT Survey: Adjusted rent assumes Trash (T) = $17
Indianapolis Area Communities
4620 S. High School Rd., Indianapolis, IN 46241
Rent IncludesAddress
Valley Brook
RENT COMPARABLES
$437 T $420
Subject Property#
798 SITE MH COMMUNITYTOTAL PRICE: TBD BY MARKET
TERMS: ALL CASHOFFERED INDIVIDUALLY OR AS A PACKAGE
VALLEY BROOK AREA AERIAL
10TH ST
MINNESOTA ST MINNESOTA ST
HO
LT RD
TIBBA A
VE
MORRIS ST
PROSPECT ST
RAYMOND ST
SAM LONES EXPY
RAYMOND ST
KENTUCKY AVE
KENTUCKY A
VE
HA
RDIN
G ST
MERID
IAN
ST
MA
DISO
N A
VE
SOUTHEASTERN AVE
MAD
ISON
AVE
MAN
N R
D
WASHINGTON ST
ROCKVILLE RD
10TH ST65
65
65
65
70
70
70
70
74
74
74
485
485
485
70
36
40
67 EAST ST
Decatur Middle School
DecaturHigh School
American WoodMolding
IndianapolisInternational
Airport
INDIANAPOLISCBD
Stout ArmyAir Field
DistributionCenter
DistributionCenters
Buffer ParkGolf Course
LillyRecreation
Park
Metropolis Mall
DSW®
798 SITE MH COMMUNITYTOTAL PRICE: TBD BY MARKET
TERMS: ALL CASHOFFERED INDIVIDUALLY OR AS A PACKAGE
FedEx at the Indianapolis International Airport• FedEx’s second largest hub resides at the Indianapolis International airport; it employs 4,000 FedEx employees and
processes an average of 50,000 packages a day.
• The FedEx hub has supported the airport in ranking among the top 25 busiest air cargo facilities in the world.
Eli Lilly and Company• Eli Lilly and Company, a global pharmaceutical company, researches treatments for diseases and is credited with many
breakthroughs including insulin, Prozac, and cephalosporin.
• The company employs 10,421 in Indianapolis alone, making it the region’s third largest employer.
WellPoint• WellPoint, one of the nation’s leading managed health care companies, insures nearly 67 million individuals through its
UniCare, Specialty Companies, National Government Services, CareMore, Amerigroup, and other brands.
• 4,500 employees work for WellPoint in the Indianapolis area, and 47,500 worldwide.
Marsh Supermarkets• A subsidiary of Sun Capital Partners, Marsh Supermarkets employs 8,890 and operates 63 grocer locations in Indiana
and Ohio.
• The company is the largest pharmacy chain in the state with 41 pharmacies.
VALLEY BROOK LOCATION MAP & DEMOGRAPHICS 69
69
465
46574
74
74
465
65
65
65
65
65
74
74
70
70
70
70
29 13
37
28
26 26
22
421
421
52
231
231
136
136
36
40
52
3137
40
40
37 31
36
31
3135
INDIANAPOLIS
LAFAYETTEKOKOMO
FRANKFORT
KOKOMORIVER
ESTATES
CRAWFORDSVILLELEBANON
AVON
LAWRENCE
WARREN
GREENWOOD
BROWNSBURG
FRANKLIN
GREENCASTLE RUSHVILLE
SHELBYVILLE
MOORSVILLE
WESTFIELD NOBLESVILLE
ELWOODTIPTON
ANDERSON
ALEXANDRIA
39
67
67
MARTINSVILLE
798 SITE MH COMMUNITYTOTAL PRICE: TBD BY MARKET
TERMS: ALL CASHOFFERED INDIVIDUALLY OR AS A PACKAGE
VALLEY BROOK DEMOGRAPHIC INFORMATION 1 mile 3 mile 5 mile
2014 Population Estimate 4,635 31,001 84,441
2014 Est. Average Family Household Income $55,779 $50,100 $52,285
2014 Est. Median Owner-Occupied Housing Value $113,315 $108,416 $112,803
Renter Occupied Percentage 28.82% 34.70% 32.55%
Owner Occupied Percentage 71.18% 65.30% 67.45%
Source: 2014 Claritas, Inc.
VALLEY BROOK SITE PLAN
74
485
67
W HANNAH AVE
KOLLM
AN
RD
KENTUCKY A
VE
DECATUR BLVD
798 SITE MH COMMUNITYTOTAL PRICE: TBD BY MARKET
TERMS: ALL CASHOFFERED INDIVIDUALLY OR AS A PACKAGE
RELATIONSHIPS THAT DELIVER RESULTS.
www.arausa.com
© ARA. All Rights Reserved
ARA NATIONAL MANUFACTURED HOUSING901 S MoPac ExpresswayBarton Oaks Plaza IISuite 275Austin, TX 78746
Todd [email protected] T 303-260-4470
Andrew [email protected] T 512-637-1219
Brian [email protected] T 512-637-1221
Jon [email protected] T 303-260-4486
This information has been derived from sources deemed reliable. However, it is subject to errors, omissions, price change and/or withdrawal, and no warranty is made as to the accuracy. Further, no warranties or representation shall be made by Apartment Realty Advisors (ARA) and/or its agents, representatives or affiliates regarding oral statements which have been made in the discussion of the above property. This presentation, prepared by ARA, was sent to the recipient under the assumption that s/ he is a buying principal. Any potential purchaser is advised that s/ he should either have the abstract covering the real estate which is the subject of the contract examined by an attorney of his/her selection, or be furnished a policy of title insurance. Do not contact the Property.
wInformation for Sherman Oaks & Valley Brook is available on our website at: www.arausa.com/listinglab/ShermanOaksValleyBrook
For a video tour of Sherman Oaks, please visit: http://youtu.be/RNKNwRHJw70For a video tour of Valley Brook, please visit: http://youtu.be/9JB7K65LSvg