About 900 Higgins Avenue
Exceptional value-add investment opportunity in Deer Lodge, Montana. This 25-lot mobile home park offers immediate cash flow with substantial upside through lease-up, operational improvements, and future pad development. The property currently consists of a mix of park-owned and tenant-owned homes, with additional income potential from leasing seven currently unused mobile home lots, currently not usable due to a collapsed sewer line that could be repaired. City utilities, established infrastructure, and a diverse tenant base make this an attractive investment for both experienced operators and first-time park owners.
Offered at a projected 12% cap rate—a rarity in today's investment market—this property delivers strong in-place returns while still providing multiple opportunities to increase NOI and long-term value. As demand for affordable housing continues to grow across Montana, this is a rare opportunity to acquire a stabilized asset with significant upside potential. Current unit mix includes 12 park-owned rental homes, 4 tenant-owned homes, 1 park owned home and 7 additional undeveloped mobile home lots, for a total of 25 approved lots. Current rent roll and financial information are available in the associated documents.
The 7 additional lots have been out of service for approximately 9 years due to a failed sewer line. The location of the failed section has been identified, and buyers are encouraged to complete their own investigation regarding repair costs and feasibility. These lots represent a significant value-add opportunity through future redevelopment and lease-up. The northern portion of the property offers potential for future multifamily development, subject to buyer verification of zoning, utility capacity, and local approvals.
Most park-owned homes are older and have been detitled, while tenant-owned homes are identified on the rent roll. One park-owned home is currently vacant and presents an immediate lease-up opportunity.
Information is believed to be reliable but is not guaranteed. Buyers and buyers' agents are responsible for independently verifying all information, including lot count, infrastructure, zoning, income, expenses, and future development potential.
