Berkadia Manufactured Housing is pleased to present Village Estates. Located in Laurel, Montana, a well-positioned suburb within the greater Billings market, this 157-site manufactured housing community offers investors the opportunity to acquire a high-performing, low-maintenance asset with durable in-place cash flow and operational upside. The property is currently 96% occupied, providing immediate income stability in a market where affordable housing options remain limited.

The community’s below-market rents present a clear opportunity for new ownership to drive revenue growth over time, while maintaining an attractive affordability profile relative to other housing alternatives in the area. Additional upside includes converting the 3 double lots into single lots as those lots turn over, which would allow a new owner to capture added lot rental income.

The asset is further distinguished by its resident-owned home structure, which materially reduces capital expenditure obligations, limits turnover-related costs, and creates a more stable tenant base. From an operational standpoint, the property benefits from individually parceled sites, public direct-billed utilities, and city-owned and maintained infrastructure—features that significantly reduce ownership’s expense burden and ongoing management complexity. The 157 individually parceled sites are located within a greater subdivision of 250 total sites, creating a compelling prospect of purchasing additional lots. Increasing the threshold of ownership to 80%, or above, would help make the financing options more competitive.

This offering presents the opportunity to acquire a community located in the desirable Billings market, defined by strong occupancy, immediate rental upside, and an abundance of operational efficiencies.

Billings, MT MSA

Shaped by the Yellowstone River and sheltered by the Rimrocks, the Billings, MT, Metropolitan Statistical Area (MSA) is a regional hub for commerce. Nicknamed “Magic City” due to its rapid growth as a railroad town in the early 1800s. Billings is the largest metro in Montana, with a population above 197,800. The region’s economy has diversified over the past century and has grown into a regional healthcare and commercial hub, yet still maintains significant ties to it’s energy and agricultural products thanks to Montana’s abundant natural resources. Notable employers in the metro area include the Billings Clinic, St. Vincent Healthcare, Wells Fargo, and First Interstate Bank. Billings’ allure and recent popularity are fueled by the proximity to nature and historic charm for a substantially more affordable rate than nearby Bozeman and Missoula. Billings attracts approximately 2.6 million visitors each year to camp, hike, fish, and bike some of the country’s most beautiful landmarks.