60+ PAD EXPANSION POTENTIAL
$1M+ LAND VALUE ALONE

Baldwin County Planning & Zoning has expressed support for
expanding the property to 60+ total pads (see page ___ and
Dropbox materials for additional detail). The attached appraisal
supports an estimated $1,000,000+ land value alone, creating
significant embedded upside beyond current operations
.
SECTION 8 PROGRAM ACTIVATED
ADDITIONAL $50K–$75K UPSIDE

The property is now actively enrolled in the Section
8 program (see Dropbox documents and email
correspondence), creating additional revenue optionality
and the potential for an estimated $50,000–$75,000+
in annual upside ABOVE traditional market rents.

16-PERSON WAITLIST
STRONG AFFORDABLE HOUSING DEMAND

The property benefits from limited nearby competition,
minimal new supply, and strong affordable housing
demand. The asset currently maintains a 16-person
waitlist, reinforcing the ongoing shortage of attainable
housing in the region and the long-term value of stabilized
affordable housing assets.

RECENT RENOVATIONS

The property has undergone a complete renovation,
minimizing operational expenses and capital expenditure
requirements for the incoming buyer.

$116K–$200K+ ANNUAL RENTAL UPSIDE
($300,000+ PROFORMA RENTS)

Current rents are significantly below market, creating an
immediate mark-to-market opportunity with approximately
$116,000/year in projected rental upside based on current
market rents alone. With Section 8 participation, projected
upside increases to approximately $175,000–$200,000+
annually. Market rents remain below HUD thresholds, helping
limit affordability risk while supporting long-term occupancy
stability.
TURNAROUND & HEAVY LIFTING
ALREADY COMPLETED

Much of the difficult operational turnaround work has already
been completed, including improving tenant quality, stabilizing
operations, and implementing stronger management practices.
A new owner can focus on maximizing cash flow and capturing
remaining upside rather than taking on a distressed repositioning
from day one.Adams Mobile Home Park offers investors the opportunity to acquire
a value-add manufactured housing community located in Milledgeville,
Georgia. The property consists of 35 pads and 34 homes situated across
just under 30 acres, with preliminary support from Baldwin County Planning
& Zoning indicating the potential to expand the property by approximately
25 additional pads, subject to buyer verification and approvals. The site
contains multiple areas that may support future development or operational
improvements over time.

Current ownership has significantly improved the property through active
management and operational enhancements while still maintaining
meaningful upside through continued rent growth and stabilization. Current
in-place rents remain below projected market levels, creating the opportunity
for future revenue growth while continuing to provide affordable workforce
housing within the market.

Milledgeville, GA, with a metro population of approximately 50,000 people,
continues to benefit from ongoing economic development and workforce
investment throughout the region. Recent growth initiatives include
expanded operations by Fouts Brothers, development of a large Hilton hotel
and convention center project downtown, and a $6.5 million state investment
into Central Georgia Technical College (CGTC) supporting EV technology,
advanced manufacturing, and mechatronics workforce programs. In addition,
the Milledgeville-Baldwin County Development Authority continues to
support local business expansion, industrial park development, job creation
efforts, and broader strategic planning initiatives focused on strengthening
the local business environment through 2027.

The property has experienced strong leasing demand, evidenced by growing
waitlists for available units within the community. Additionally, the asset
benefits from its location between several larger regional population centers
including Augusta, GA (630,000 metro population), Macon, GA (233,000
metro population), and Atlanta, GA (6,400,000 metro population). As of
December 2024, unemployment within the Valdosta, GA MSA was reported
at 3.9%, below the national average of 4.4%, further supporting long-term
workforce housing demand fundamentals throughout the