Contact Information

Chelsea Schulz

RealINSIGHT Marketplace

CONTACT SELLER

Price: Call for Price
Listing ID: 6837583
Posted On: Mar 6, 2025
Updated On: Mar 6, 2025

Description

RI Marketplace Online Auction April 28-30
AUCTION SITE: https://bit.ly/3DaFfOW

Friedman Real Estate, in partnership with RI Marketplace, is pleased to present the exclusive marketing and sale of a 43-site mobile home park community in East Alton, IL, part of the St. Louis MSA. Currently generating an in-place NOI of approximately $80,000, the property offers significant value-add potential, including the opportunity to increase lot rents, sell homes to tenants, and implement rent-to-own agreements. Additionally, unused land is included, allowing for the potential development of additional mobile home sites.

Further revenue growth can be achieved by billing tenants for water usage, which is currently not charged. Upon stabilization, the property is projected to generate an NOI of approximately $215,000 per year. Conveniently located just 25 minutes from downtown St. Louis, the community benefits from proximity to numerous employment and retail options. The surrounding area, home to approximately 200,000 residents within 10 miles, boasts an average household income of $60,000, making it an attractive market for mobile home living.

Location

East Alton, Illinois, is a dynamic community situated within the St. Louis, Missouri, is a bustling city located on the western bank of the Mississippi River, known for its rich history, vibrant culture, and iconic landmarks. As the largest city in Missouri, St. Louis offers a diverse array of attractions, including the Gateway Arch, world-class museums, and a thriving arts scene. Its robust economy is driven by a mix of industries such as healthcare, education, and manufacturing. St. Louis serves as a major cultural and economic hub for the region, with its well-connected transportation network linking it to neighboring cities and beyond, making it a central point for both business and leisure in the Midwest.

St. Louis, Missouri, is a bustling city located on the western bank of the Mississippi River, known for its rich history, vibrant culture, and iconic landmarks. As the largest city in Missouri, St. Louis offers a diverse array of attractions, including the Gateway Arch, world-class museums, and a thriving arts scene. Its robust economy is driven by a mix of industries such as healthcare, education, and manufacturing. St. Louis serves as a major cultural and economic hub for the region, with its well-connected transportation network linking it to neighboring cities and beyond, making it a central point for both business and leisure in the Midwest.

Scott Bowers
c/o Fisher Auction Company Inc.
License: 040000273

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