52TEN DD1, LP was a $4 million equity offering centered on Hidden Oasis Estates, a value-add manufactured housing community in Panama City, Florida. Built in 1998 with 141 lots on nearly 23 acres, the property offered strong fundamentals but significant upside due to under-management and limited visibility in the market. At acquisition, 74 lots were vacant and rental rates were 78% below market, creating a compelling opportunity for growth.

The strategy included targeted capital improvements, rebranding the community, and filling vacant sites with quality manufactured homes to attract top-tier residents. These upgrades were designed to reposition Hidden Oasis Estates as the premier community in the area, while infill and rent adjustments substantially increased revenues.

The offering targeted an 18.7% IRR, a 2.0x equity multiple, and 10.5% average cash-on-cash returns over a 4-year hold, supported by a 7% preferred return. The minimum investment was $250,000.