Investment Overview

The Wilmer & Danny Group of Marcus & Millichap is proud to present Heartland Estates, a rare opportunity to acquire a value-add manufactured housing community located in Torrington, the economic and commercial center of Goshen County in eastern Wyoming. The property consists of seventy-six (76) total manufactured housing sites, including three (3) brand new park-owned homes, offering investors the opportunity to acquire a community with significant occupancy upside and long-term rental growth potential in one of the Mountain West region’s most supply-constrained affordable housing markets. Originally developed in 1972, Heartland Estates currently operates at approximately 65% occupancy, presenting investors with a clear path toward value creation through continued infill, lease-up, and operational stabilization. The property benefits from all city utility services, providing long-term infrastructure reliability and operational simplicity. The community operates with a flat monthly utility reimbursement structure, with residents contributing toward electric, water, sewer, trash, and tax expenses. Current utility billbacks are approximately comprised of 33% electric, 27% water, 17% sewer, 22% trash, and 1% tax reimbursement, creating operational efficiencies and expense recovery for ownership. Existing in-place rents remain below competing housing alternatives within the market, providing investors with the opportunity to capture continued organic rent growth over time. Additionally, the recent addition of three brand new park-owned homes further enhances the property’s long-term income potential and overall community appeal. Heartland Estates is strategically located within eastern Wyoming, providing access to regional transportation corridors connecting Wyoming, Nebraska, and the broader Mountain West region. Torrington benefits from a stable regional economy supported by agriculture, healthcare, education, logistics, and local commerce. Major regional employers include Banner Health Community Hospital, Eastern Wyoming College, and numerous agricultural and energy-related businesses throughout the region. Residents benefit from proximity to local retail, dining, and recreational amenities throughout Torrington and the surrounding eastern Wyoming region. Outdoor recreation opportunities including hunting, fishing, camping, hiking, and access to numerous regional parks and open spaces continue to make the area attractive to long-term residents seeking an affordable and lifestyle-oriented community environment. Demand for affordable housing throughout Wyoming and the greater Mountain West region remains exceptionally strong as housing affordability continues to become increasingly challenging throughout neighboring states. Manufactured housing communities continue to represent one of the most attainable forms of housing within the region, resulting in sustained long-term demand for quality affordable housing communities. Heartland Estates represents a rare opportunity to acquire a value-add manufactured housing community with meaningful occupancy upside, infill potential, and below-market rents in an economically stable and supply-constrained market. Comparable manufactured housing community sales throughout Wyoming remain limited, further emphasizing the uniqueness of this offering. The property is being offered on an unpriced basis. Interested parties are encouraged to review all offering materials prior to submitting offers. Seller financing will not be considered. All-cash offers with compressed closing timelines are encouraged. For additional information, access to the Due Diligence Portal, or financing quotes, please contact the listing brokers. If visiting the property, please drive through discreetly without exiting your vehicle or disturbing management or residents.