Moon Lake Estates MHC is an all-age 93-site community on approximately 29 acres of land with significant upside potential located in the desirable Lansing-East Lansing MSA. The metro is home to over 540,000 people making it the third largest in the state. – Value-add potential to raise lot rents to market, which Owner believes to be around $75 per month per site higher. – Further value-add opportunity to fill sites as the property is only 63% economically occupied. With 6 vacant park-owned homes, a new owner can quickly increase occupancy through rehabbing the existing inventory and filling the already rent ready ones. There is also an opportunity for new owner to implement a home sale program and focus on converting renters to homeowners. – The community has 54 park-owned homes, of which 48 are currently occupied as pure rentals averaging $455 for the home rent portion. The home inventory consists of mainly newer models with 93% built between 2018 and 2020. – The current owner has spent over $340,000 within the last couple of years on upgrading the utilities and amenities at the community. The community has a clubhouse and features off-street parking and paved roads. – Consumers Energy required the building of a new gas pipeline across the property. This resulted in an easement that required the permanent loss of 5 sites (sites 2, 3, 26, 62 and 85). Four sites were temporarily down but can be used again and 4 homes were moved from the 9 total sites affected. One of the two wells needed to be filled in for the utility company to do the work. Another well will need to be built but has not yet broken ground. The plans, including location and easements are available and will be transferred to a Buyer. – The community has potential for RV development or MH expansion. There is approximately 5 acres of an old RV area that could be redeveloped. – Of the communities in the portfolio, Moon Lake Estates is the only property with a private water and sewer system.