Property Overview: Jennings Estates is a partially developed Manufactured Home Community (MHC) opportunity located on Country Ln in Pineville, LA. The site spans 8.81 total acres, with approximately 4 acres currently developed, offering expansion potential for additional units or value-add redevelopment. Current Features: Total Units: 35 spaces (est.) Occupancy: ~40% occupied Ownership: Approximately 58% park-owned homes Zoning: Residential/mobile home use Utilities: Public water & sewer available (confirm tap fees/connection per city) Investment Highlights: Value-Add Play: Ideal for an investor seeking to reposition underperforming assets. Ability to raise occupancy, convert POHs to TOHs, and add new homes on unused acreage. Expansion Potential: Up to 4.8± acres of unused land offers significant room for infill, subject to zoning and utility access. Location: Minutes from downtown Alexandria/Pineville metro, offering a stable tenant base and proximity to services, shopping, and employment hubs. Low Acquisition Basis: Priced attractively at $850,000, making it a compelling entry point into the Louisiana MHC market. Financial Snapshot (Estimated): Gross Potential Rent (Fully Stabilized): ~$210,000 annually (based on 35 pads @ $500/mo) Current NOI: Significantly below potential; upside through rent growth, infill, and expense control Cap Rate (Pro Forma): 9%–10%+ achievable with stabilization Notes: Buyer to verify infrastructure capacity for expansion. Potential eligibility for local incentives or grants (contact Rapides Parish for MHP redevelopment support). On-site condition ranges from fair to good; some deferred maintenance on POHs expected.