100 Oak Ridge Rd Fredericksburg, TX 78624

The LiveOaks Manufactured Home Community features 129 sites and operates at approximately 98% occupancy, with 127 sites currently occupied. The community offers stable in-place cash flow and potential for revenue growth through rental realignment. Current average lot rents are approximately $504 per month, which is below projected market levels. The property is effectively stabilized with only 2 vacant sites. The primary value-add opportunity involves phased rent increases, with projected rents increasing to $604 in Year 1, $679 in Year 2, and $754 by Year 3, aligning the property with market comparables. Additional upside can be achieved through professional management implementation and expense normalization, particularly within payroll and maintenance. Net Operating Income is projected to increase from approximately $477,000 to $793,000 by Year 3, with total revenue expected to exceed $1.14 million annually. Expense ratios are projected to improve to approximately 31%. Projected cap rates are approaching 6.7%, and cash-on-cash returns are nearing 5.9% by Year 3. The property is located in Fredericksburg, TX. The community benefits from a large, established tenant base and strong demand for affordable housing. The asset represents a compelling core-plus investment with stable cash flow and a clear path to value creation through rent normalization.