Safe Harbor Estates

Portsmouth, Virginia, is an independent city within the Hampton Roads region, positioned along the western banks of the Elizabeth River. Known for its deep maritime history and as the longtime home of the Norfolk Naval Shipyard, Portsmouth blends a strong military and industrial presence with a growing base of healthcare, small business, and entertainment. The city is part of the Virginia Beach–Norfolk– Newport News metropolitan area, offering residents the combination of waterfront living and regional connectivity to one of the state’s largest economic hubs. The area is supported by a diverse economic foundation. Anchored by the U.S. Navy’s shipyard operations, Portsmouth also benefits from Bon Secours Maryview Medical Center and a variety of local employers in retail, manufacturing, and services. The recent addition of Rivers Casino Portsmouth has expanded both job creation and regional entertainment, signaling continued investment and growth. Residents enjoy access to cultural amenities such as the Atlantic Union Bank Pavilion, historic Olde Towne, and waterfront parks, all within minutes of neighboring Norfolk and Virginia Beach. In summary, Portsmouth is a community defined by its strategic waterfront location, strong military and healthcare anchors, and cultural heritage. Its balance of stability, economic diversity, and metro accessibility makes it a solid backdrop for long-term residents and a supportive market for manufactured housing investment.Safe Harbor Estates MHP, a low- maintenance, tenant-owned home community located in Portsmouth, Virginia. The park features 24 sites, all 100% occupied by tenant-owned homes with an average lot rent of $660 per month. With no park-owned homes, ownership enjoys limited day-to-day responsibility and a highly reliable rent roll. The property is fully serviced by City Water and City Sewer, currently paid through a master meter and included in rent, creating immediate upside for a new owner through submetering or flat bill-back programs. Trash is provided curbside through GFL and also included in rent, representing another opportunity to pass through costs. When the current ownership acquired the park in 2021, it was operating at just 30% occupancy with average rents of $225. Through targeted capital improvements—repaving roads, cleaning up distressed units, and professional management—the property has been transformed into a fully stabilized and high- performing community with strong collections and no ongoing maintenance burdens. All tenants are on month-to-month agreements, allowing for gradual and predictable yearly rent increases, well-supported by the strong rental market in Portsmouth. Beyond the core income stream, the property also includes an undeveloped parcel adjacent to the community. Currently fenced and used for limited RV parking, this land offers investors an additional layer of upside through future development potential or conversion into a separate income-producing asset. Brinkley MHP represents a rare opportunity to acquire a truly stable, low- maintenance community in the Hampton Roads metro. With 100% occupancy, tenant-owned homes, immediate utility bill-back potential, and a clear path for steady rent growth, this asset is positioned to deliver reliable performance and long-term value.