Antelope & Otero Estates
2 Park Portfolio | 76 Units with Infill Opportunity | City Water & Sewer
Marketing description
The MHP Value Team is pleased to offer for sale the Antelope Estates & Otero Estates Portfolio, a 76-site manufactured housing community portfolio located in La Junta, Colorado.
The portfolio currently includes 19 tenant-owned homes with an average lot rent of $413/month, 15 occupied park-owned homes generating approximately $924/month in home rent, one RV site rented at $350/month, seven storage units averaging $80/month, and two single-family homes averaging $895/month in rent. In addition, there is one vacant park-owned home, one vacant storage unit, and 30 vacant lots with existing infrastructure.
The communities are currently 46 sites physically occupied (60.53%) and 44 sites economically occupied (57.89%), presenting meaningful upside through stabilization and improved operations.
The investment strategy centers on improving collections, stabilizing operations, and infilling the 30 vacant lots to increase occupancy and overall revenue. Because both communities operate within the same market and can be managed under a single management structure, an incoming investor has the opportunity to enhance operational efficiency while driving cash flow growth through infill and improved management.
Investment highlights
- City Utility Infrastructure – The communities are serviced by city water and sewer, with utilities billed back to tenants, while electric is directly metered and billed. This structure helps reduce owner expense exposure and simplifies day-to-day operations.
- Significant Infill Opportunity – The portfolio includes 30 vacant lots with existing infrastructure, representing nearly 40% of the total 76 sites. This creates meaningful upside through infill, increased occupancy, and revenue growth.
- Multiple Revenue Streams – The communities generate income from tenant-owned homes, park-owned homes, RV sites, storage units, and two single-family rentals, providing diversified income sources and added operational flexibility.
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