New Mexico 11-Park Portfolio
11 Properties | 462 Units | 2 MSA’s
Marketing description
BWE is pleased to present an 11-community manufactured housing portfolio across Las Cruces and Alamogordo, New Mexico — offering a rare opportunity for scaled entry in two supply-constrained affordable housing markets. With 75 vacant pads and 67 vacant POHs representing 142 units of available inventory, a new owner has an immediate, clearly defined path to revenue growth through lease-up, infill and sustainable rent growth. In-place lot rents of ~$427/month sit well below market comps of $470– $575/month, providing a second independent lever for NOI expansion as occupancy stabilizes. The portfolio’s 11-community footprint across two proximate markets — just 67.5 miles apart — supports a single regional management platform, shared vendor relationships, and centralized operations that compress overhead and drive margin improvement at scale.
Investment highlights
A rare opportunity to acquire an 11-community manufactured housing portfolio across Las Cruces and Alamogordo, New Mexico — offering immediate cash flow, significant occupancy and rent upside, and a large infill pipeline in two growing, supply-constrained affordable housing markets.
462 — Total lots
11 — Communities in Las Cruces & Alamogordo
238 — Occupied tenant-owned homes
75 — Vacant pads available for infill
67 — Vacant POHs available to lease or sell
6 -- RV units
Utilities: Combination of Private/Public (See OM)
SCALED MARKET ENTRY 11 Communities | Las Cruces & Alamogordo, NM
462 total lots across 11 communities in two proximate New Mexico markets provides geographic diversification and critical mass for centralized management. The portfolio's scale supports shared resources while reducing single-asset concentration risk.
462 Lots | Across 11 communities
SIGNIFICANT NOI GROWTH Via Occupancy & Rent Upside
Current occupancy of ~68% with 75 vacant pads and 67 vacant POHs leaves substantial room for growth. In-place lot rents average ~$427/month compared to market comps of $470–$575/month, representing meaningful upside on both fronts. ~$427 |
LARGE INFILL OPPORTUNITY Home Sales & RTO Conversion
With 75 vacant pads and 67 vacant POHs, the portfolio offers a substantial pipeline for near-term revenue growth. Converting vacant POHs through RTO or direct sale — and filling empty pads with new homes — provides a clear, proven path to value creation.
142 | Vacant units & pads available
TWO-MARKET PROXIMITY Las Cruces & Alamogordo Within Driving Distance
Las Cruces and Alamogordo are complementary markets roughly 90 miles apart, enabling a single regional management team to oversee all 11 communities efficiently. This proximity reduces overhead, simplifies vendor relationships, and supports a unified operations platform.
11 Communities | 2 markets · 1 management team
PROVEN AFFORDABLE HOUSING DEMAND Supply-Constrained Markets with Strong Fundamentals
The City of Las Cruces' 2021–2025 Consolidated Plan identified a shortage of nearly 5,000 rental units, while the NM Mortgage Finance Authority documented a separate regional deficit of over 3,800 affordable units. With the average 2-bedroom apartment in Las Cruces now renting for $1,305/month (RentCafe/Yardi Matrix, 2025), manufactured housing lots at ~$427/month represent one of the only attainable options remaining for working families in the market.
5,000 — Unit rental deficit (City of Las Cruces) 3,800+ — Affordable unit deficit (NM MFA) $1,305 — Avg. 2BR apt. rent (Yardi Matrix, 2025)
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