Hamblin Heights_Property for Sale
Hamblin Heights_Property for Sale
101 Parnell Lode Road, Butte, MT, 59701, US

Hamblin Heights

Asset Description

Jones Lang LaSalle (“JLL”) has been exclusively retained to present the opportunity to acquire Hamblin Heights, a 57-site Manufactured Housing Community (the “Property” or the “Community”) located in Butte, Montana. The Property, built in 1973, is currently 91.23% occupied, and is favorably situated nearby the many amenities of Downtown Butte, while also offering breathtaking views of the Rocky Mountains. The site is comprised of 48 tenant-owned spaces and 9 park-owned spaces, as well as an additional parcel of land located to the East of the Property. The Property is serviced by public utilities, and features tremendous transportation access in Montana, a non-rent controlled state.

The Property represents an enticing investment opportunity in a strong real estate market. With its prime location, steady income potential, and growing demand for affordable housing, the property offers a strong foundation for long-term success and attractive returns.



Asking price
Year built
Building area net
45,851 m²
Land area net
4.59 ha (45,851 m²)


Investment Highlights

  • Resilient asset class with strong tailwinds - Within the last few years, some of the largest private equity firms, real estate investment firms, and institutional investors in the world have been flocking to make investments in the manufactured home community market. Due to the high demand for affordable housing, this asset class has provided investors highly durable cash flows even in the midst of economic downturns. In fact, the MHC sector is the only real estate asset class that has not experienced a year-over-year decline in NOI in any year since 2000. Moreover, it is the only real estate sector that experienced positive NOI growth during the last two downturns. The cash flow durability, resilient tenant base, and lack of new supply have propelled this asset class to be a top performer among REITs for the past 10 years.
  • Excellent location & access - The Property offers residents close proximity to a variety of retail amenities and entertainment options with the affordability and charm of Butte, while also being situated nearby other major Montana cities, such as Helena and Bozeman, both located just an hour away. Butte is within a reasonable driving distance of several regional airports. Bert Mooney Airport, located just outside the city, offers commercial airline service with daily flights. Additionally, Bozeman Yellowstone International Airport and Helena Regional Airport are both within a couple of hours' drive, providing additional travel options. Butte serves as a regional economic hub, providing a range of services and amenities to residents and businesses in surrounding areas. The city offers healthcare facilities, shopping centers, educational institutions, government services, and employment opportunities in various sectors. This regional importance contributes to the overall livability and vibrancy of the city. Additionally, Butte is surrounded by the natural beauty of Montana. The city is nestled between the scenic Rocky Mountains, with various mountain ranges in close proximity. Outdoor enthusiasts can easily access nearby wilderness areas, national forests, and recreational opportunities such as fishing, hiking, camping, skiing, and hunting.
Hamblin Heights 4_Property for Sale
Hamblin Heights 4_Property for Sale

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Last updated
8 Nov 2023