The Esterson MHC Team is pleased to present an investment opportunity consisting of two adjacent mobile home parks that operate as a single entity located in Hardin, Montana. Hardin has approximately 3,754 residents, growing 10.5% YoY. Hardin is in Big Horn County, with a population of 13,198 and growing substantially. Hardin is well-positioned for future development initiatives, due to its proximity to Billings, MT and Yellowstone National Park.

There are a combined total of 42 lots and 36 tenants with 1 tenant owned home (TOH), 21 rented park owned homes (POH), 14 rent to owns units (RTO), 4 vacant POH, and 2 vacant MH lots. The average lot rental rate per month is $415, the average home rent above lot rent is $330, and the average RTO payment above lot rent is $305. The park owned homes are an average age of roughly 1977 and the 4 vacant homes are in below average condition.

The parks are serviced by public water and sewer. This is billed back to tenants at Alpine Meadows and included in the rent at Willow Springs. Electricity is public and billed directly to tenants. Trash is serviced by dumpsters which are paid for by the park and included in the property taxes. The roads are gravel and in below average shape.

The parks are being offered at an asking price of $1,350,000. At asking price and upon entry, an investor can cash flow at a 13.2% gross CAP rate.