Frontier Estates MHP — Sale in Cheyenne, WY

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Cheyenne, WY 82001
  • Year built: 1959

Photos

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Investment Figures

Cap rate
5.44%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is proud to present Frontier Estates, a rare opportunity to acquire a manufactured housing community located in Cheyenne, the capital and economic center of Wyoming. The property consists of fifty-six (56) total manufactured housing sites and presents investors with the opportunity to acquire a stabilized community with continued occupancy and rental upside in one of the Mountain West region’s most supply-constrained affordable housing markets. Originally developed in 1959, Frontier Estates has historically maintained strong occupancy and currently operates at approximately 80% occupancy. The property benefits from all city utility services, providing operational simplicity and long-term infrastructure reliability. The community operates with a flat monthly utility reimbursement structure, with residents contributing toward water, sewer, trash, and city assessed fee expenses. Current utility billbacks are approximately comprised of 32% water, 43% sewer, 22% trash, and 1% city assessed fee reimbursement, creating operational efficiencies and expense recovery for ownership. Current average site rents are approximately $548 per month, remaining below competing housing alternatives within the market and creating a clear path for continued organic rent growth over time. Additionally, the property offers future upside through continued infill of vacant sites and operational optimization. Frontier Estates is strategically located with convenient access to Interstate 25 and Interstate 80, providing connectivity throughout Wyoming, Colorado, and the broader Rocky Mountain region. Cheyenne continues to benefit from a diverse and stable economic base supported by government, military, railroad, logistics, healthcare, and energy-related employment sectors. Major regional employers include F.E. Warren Air Force Base, one of the region’s largest and most stable economic drivers, as well as Union Pacific Railroad and the State of Wyoming. Residents benefit from

Market Context

This multifamily in Cheyenne, WY is listed for sale. It is offered at an approximate 5.4% capitalization rate, a key benchmark for income-producing multifamily assets. The building dates to 1959. Compare it against other multifamily listings for sale in Cheyenne, WY — view the full market.

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