248-848-4089
3 Fern Ln, East Alton, IL for Sale
Manufactured Housing/Mobile Housing - FOR SALE
1/28
null | Request Cap Rate

3 Fern Ln
East Alton, IL 62024


HIGHLIGHTS

  • Auction Sale.
  • Conveniently situated just 25 minutes from downtown St. Louis, with numerous employment and retail options nearby.
  • ±200,000 people live within 10-miles of the subject property with $60,000 average household incomes.

OVERVIEW

Auction Sale. 43-site mobile home park community located in East Alton, IL (St. Louis MSA). Significant value-add potential with opportunities to increase lot rents, sell homes to tenants, and implement rent-to-own agreements. Additional land included for potential development of more mobile home sites. Revenue growth opportunity by billing tenants for water usage, which is currently not charged. In-place NOI: ±$80,000 Stabilized NOI: ±$215,000

FOR SALE DETAILS

PRICE

Request Info for Price

# OF UNITS

43

CAP RATE

Request Cap Rate

% LEASED

81%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Manufactured Housing/Mobile Housing

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1970

PARKING SPACES

-

LAND DETAILS

LAND ACRES

3.87 AC

LAND SF

168,498 SF

ZONING

commercial

APN/PARCEL ID

19-2-08-15-12-201-009

ASK ABOUT THIS PROPERTY

Steven SilvermanFriedman Real EstateMore Info
248-848-4089

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Steven SilvermanFriedman Real EstateMore Info
248-848-4089

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.