Vineyard Way Rentals

• 11.61% Year 1 Cap Rate | 24 Units | Atlanta MSA
• Strong In-Place Cash Flow with approximately 15% upside to market rents
• Diverse Unit Mix consisting of 9 park-owned homes, 2 tenant-owned homes, and an 8-unit apartment building
• Recently Renovated Interiors with all unit interiors renovated within the past year, minimizing near-term capital expenditures
• Additional Infill Upside with five vacant tenant-owned home lots; ownership is currently infilling one lot, leaving four vacant lots for future expansion
• Multiple NOI Growth Opportunities through additional infill and continued rent growth
• Rent-to-Own Potential for park-owned homes, providing an opportunity to reduce ongoing maintenance responsibilities and operating costs

Trailer Renovations & Improvements

• Extensive Property-Wide Renovations All trailers have undergone comprehensive interior and exterior renovations within the past two years, including new flooring, appliances, lighting, plumbing fixtures, and fresh interior and exterior paint.
• Upgraded Plumbing & Water Infrastructure All trailers have been completely replumbed with new PEX piping, eliminating the original trailer-style plumbing. The main water service line serving each trailer has also been replaced.
• New HVAC Systems & Water Heaters Every trailer features a new water heater and new central heating and air conditioning systems and/or new mini-split systems.
• New Outdoor Decks All trailers feature newly constructed decks averaging approximately 15′ x 15′. Approximately half of the trailers offer two decks of this size.
• All-Electric Utilities All trailers are fully electric, eliminating the need for tenants to pay separate gas bills
• Additional Water Fee Income Tenants pay a monthly water fee ranging from
• Independent Septic Systems Each trailer is served by its own independent septic system. All systems have been inspected, and certification letters are available. Each vacant lot also has its own independent septic system, with inspection reports and certification letters available.

Apartment Renovations & Improvements

• Seven of Eight Apartments Renovated Seven of the eight apartments have been fully renovated within the past two years, including new appliances, flooring, wall-mounted heaters, and interior paint.
• Established Long-Term Tenancy The remaining apartment has not been renovated because the tenant has occupied the unit since the current ownership acquired the property.
• Recent Septic System Replacement The septic tank serving the apartment building was replaced approximately three years ago.
• Apartment #2 is the only unit that has not been renovated since acquiring the property. Apartment #5 is expected to become available soon, as the current tenant is relocating to a nursing home. The plan is to relocate the tenant from Apartment #2 into Apartment #5, allowing for the complete renovation of Apartment #2. Upon completion, all eight apartments will have been fully renovated within the next month.