Riley MHP is one of two MHP's being sold in Moberly, MO as a portfolio. Riley MHP is a 48-pad mobile home community located on 9.34 acres on the outskirts of Moberly, MO. The park was developed in the 1980 and has served the community by offering an affordable housing option since that time. The property is zoned commercial and is believed to be in compliance. The park is not located in a flood zone. The park is presently managed by a 3rd party management company which is owned and run by one of the minority partners in the ownership LLC. The owners believe that they have tenants who would make good onsite manager/greeter candidates should that fit your management model preference. All maintenance issues are currently handled by the 3rd party property management company.

The pad size varies, but all of the pads accommodate single-wide trailers. There are currently zero trailers that will most likely need to be removed from the premises. Of the 32 occupied pads in the park, 31 of the trailers are either TOH or RTO's with pad rate averaging $315/month. One POH's at $775/month. One vacant POH's. Rent was last raised on July 1st, 2024. There are currently five tenants behind in their rent. The park utilizes leases for its residents. The park has titles for all of the POH's. Of the vacant pads 1/3 are able to bring in homes without improving infrastructure (the others will need some pad work and bringing hookups up to code). The tenants currently pay their rent via an online payment portal.

PUBLIC WATER & SEWER! Riley MHP is on city water & city sewer! The underground pipe material is believed to be a mixture of different materials. The amperage of the electrical pedestals was not provided. Residents are direct billed for water, electricity, & gas by the utility providers. Garbage is paid directly by the park at the present time, however that is being transitioned to the tenants as leases come up for renewal. The park roads which are asphalt were recently repaired (July 2024) and are considered to be in good condition. The tenants will be responsible for mowing their own pads as their current leases are up for renewal. The park mows the common areas through the property management company. The property management company also pushes snow as needed.

The owner has made some park improvements since taking over the park:

• 2 upgraded/remodel's of POH or POH to TOH
• 1 home purchased and/or infilled
• Electrical upgrades for infill
• Pad prep for infill
• POH's in poor condition were removed from the park
• Plumbing work done on sewer lines and pump house
• Over $75,000 in capital expenditures over the past 18 months

When asked if they were to continue to own/operate the parks going forward, what items would you concentrate on improving?

• Continue infill efforts
• Continue to fully transition to 100% RTO/TOH in the park
• Garbage & mowing fully transitioned to tenants

MR. LANDMAN, LLC is a licensed real estate brokerage firm in the State of Missouri under Lic#2021009404. Jonathan Fisher is a broker associate in the State of Missouri under Lic#2021009405.