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.
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.
Executive
Executive
Summary
Summary
THE OFFERING
INVESTMENT HIGHLIGHTS
LOCAL EMPLOYERS
MARKET OVERVIEW
SUMMARY OF TERMS
01

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.
7

6.
8
Investment
Investment
Highlights
Highlights
EXECUTIVE SUMMARY

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.
10 EXECUTIVE SUMMARY

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.
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.
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.
14 EXECUTIVE SUMMARY

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.
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.
17

16.
Property
Property
Overview
Overview
THE OPPORTUNITY
PROPERTY DETAILS
PROPERTY PHOTOS
02

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.
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.
22 PROPERTY OVERVIEW

20.
23

21.
Financial
Financial
Summary
Summary
FINANCIAL ANALYSIS
INCOME & EXPENSE SUMMARY
ASSUMPTIONS
RENT ROLL
03

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.
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.
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.
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.
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.
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.
Market
Market
Comparables
Comparables
RENT COMPARABLES
SALES COMPARABLES
04

29.
34 MARKET COMPARABLES
1
2
3
4

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.
36 MARKET COMPARABLES
MARKET COMPARABLES
1
2

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.
Marcus &
Marcus &
Millichap
Millichap
Capital
Capital
Corporation
Corporation
Debt Quote
Debt Quote
05

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.
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.
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.
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.
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