Frontier Estates MHP
Mobile Home Park | 58 Pads | $77,241/pad
Marketing description
The Wilmer & Danny Group of Marcus & Millichap is proud to present Frontier Estates, a 56-site manufactured housing community located in Cheyenne, Wyoming. Originally developed in 1959, the property offers investors the opportunity to acquire a stabilized community with approximately 80% occupancy, below-market rents, and meaningful upside through continued occupancy growth, infill of vacant sites, and operational optimization. The community benefits from all city utility services and utilizes a flat utility reimbursement structure, creating operational efficiencies and expense recovery for ownership.
Frontier Estates is strategically positioned with convenient access to Interstate 25 and Interstate 80, providing connectivity throughout Wyoming, Colorado, and the broader Rocky Mountain region. Cheyenne serves as Wyoming's capital and economic center, supported by a diverse employment base that includes government, military, transportation, healthcare, logistics, and energy sectors. Major employers such as F.E. Warren Air Force Base, Union Pacific Railroad, and the State of Wyoming provide long-term economic stability and consistent housing demand.
Residents benefit from proximity to numerous retail, dining, and entertainment amenities, including Frontier Mall, Downtown Cheyenne, and a variety of outdoor recreational destinations throughout southeastern Wyoming. The community is also located near Cheyenne Frontier Days, one of the nation's largest outdoor rodeo and western celebration events. As housing affordability challenges continue across the Mountain West, manufactured housing communities remain one of the region's most attainable housing options, supporting strong occupancy demand and long-term resident retention.
Frontier Estates is being offered at $4,480,000, representing approximately $80,000 per site. Current average site rents of approximately $548 per month remain below competing housing alternatives, providing a clear path for future rent growth. With limited manufactured housing inventory and transaction activity throughout Wyoming, Frontier Estates represents a rare opportunity to acquire a well-located community with stable cash flow, occupancy upside, and long-term growth potential in one of the region's most supply-constrained affordable housing markets.
Investment highlights
- Strategic Cheyenne Location with Immediate Scale - The property consists of 56 manufactured housing sites in Wyoming's capital city, providing investors a foothold in one of the state's most established and economically diverse housing markets.
- Value-Add Opportunity Through Occupancy & Infill - Frontier Estates currently operates at approximately 80% occupancy, offering investors a clear path to increase revenue through lease-up, site infill, and operational optimization.
- Below-Market Rents with Organic Growth Potential - Current average site rents remain affordable relative to competing housing alternatives, creating runway for future rent growth while maintaining strong resident demand.
- All City Utilities with Expense Recovery Structure - The community benefits from municipal utility infrastructure and a utility reimbursement program that helps offset operating expenses and supports efficient property operations.
- Strong Demand for Affordable Housing - Manufactured housing continues to serve as one of the most attainable housing options in Wyoming, supporting long-term occupancy and resident stability amid ongoing affordability challenges.
- Supply-Constrained Market with Limited Competition - Restrictive development conditions and limited new manufactured housing construction throughout Wyoming strengthen the competitive position of existing communities.
- Stable Economic Base Anchored by Major Employers - Cheyenne benefits from a diverse employment base supported by F.E. Warren Air Force Base, Union Pacific Railroad, the State of Wyoming, and other major regional employers.
- Rare Wyoming Manufactured Housing Investment Opportunity - Limited transaction volume and scarce inventory throughout the state make Frontier Estates a unique opportunity to acquire a stabilized community with long-term upside.
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