Paducah Portfolio

PORTFOLIO LOCATIONS

INDIAN OAKS RESERVE: 4131 Clarks River Road, Paducah, Kentucky 42003 | View in Maps >

WOODLAWN RESERVE : 365 Meacham Lane, Paducah, Kentucky 42003 | View in Maps >

Paducha portolio

Executive Summary

BWE Investment Sales LLC (BWE) is pleased to offer the exclusive opportunity to acquire Paducah 2-Park Portfolio, consisting of Indian Oaks Reserve (138 lots) and Woodlawn Reserve (87 lots) for a total of 225 lots. Indian Oaks Reserve and Woodlawn Reserve are located about 3.5 miles apart, providing a new buyer immediate operational efficiencies.

With an occupancy rate of 80%, the average lot rent for this two-park portfolio is $346. Both communities are serviced by public water, sewer, and curbside trash, which are all directly billed to tenants. With 33 vacant MH lots, 5 vacant POH, and 6 vacant RV lots across the portfolio, new ownership is provided with an immediate value add opportunity through infill, rent increases, and ability to refinance after completion of the business plan into an agency loan. New park owned homes in this market are currently renting for $1,100-$1,200 a month, which allows the next buyer to capitalize on the remaining vacant lots. Geographically, these asset locations provide convenient access to everything the city of Paducah has to offer, including retail, parks, dining, and various employment opportunities.

Investment Highlights

Convenient Location

Indian Oaks Reserve and Woodlawn Reserve are located approximately 7 minutes from one another, providing operational efficiencies for a new owner. The communities are situated about 10 minutes from Downtown Paducah, which contains a variety of retail, parks, dining, and employment opportunities for residents.

Value Add Opportunity

There is value add opportunity for investors through rehabbing and filling the 6 vacant park owned homes, infilling the 28 vacant lots with new park owned homes, and continuing to raise rents to market. Other communities in the market are getting $1,100-$1,200 a month for new homes.

Rent Increase Opportunity

Opportunity for the buyer to get the rents to market by standard annual rent increases and setting new tenants at market rents as occupancy continues to climb. Currently 80% leased with vacant MH lots, a new owner is presented with an opportunity to increase occupancy to 90%+ in a relatively short period of time.

Public Utilities

Both communities are serviced by public water and sewer, which are both directly billed to the tenants and curbside trash, which is also directly billed to the tenants.