Mobile Home Park Details
- Purchase Method: Cash
- Listing ID: 1418857
- Posted On: Apr 6, 2021
- Updated On: Dec 21, 2021
Description
Belmont Mobile Home Park is a 31-pad community literally in the shadow of the St. Louis Arch, and it offers exciting "value-add" opportunities for its next owner. The park sits on 8.99 acres and the seller believes that it was developed around 1970. The park presently has 22 paying tenants (71% occupied). All 22 of the paying tenants are TOH and they are paying just $245/month. The owner states that during the Covid crisis he has not had a single tenant late with rent. The last rent increase for the park was back in March of 2019. There is currently one vacant trailer that needs to be removed from the property. All of the tenants are current on rent at the present time. Nearly 1.1 million population within 15 miles of this MHP! The park is also in the Collinsville School District which is a major selling point for prospective tenants!
CITY WATER & CITY SEWER! This is always the first question that I get so let's get that out of the way. The park is on city water however it is not being billed direct to the tenants at this time. The gas & electric are direct billed to the tenants from their respective suppliers. The road through the park is made out of asphalt. The seller describes the road as being in "below average" condition. Tenants mow their own space, and the park mows the vacant & common areas. The tenants are currently responsible to push snow as necessary.
The park needs meters...68.3% of the park income is currently spent on water/sewer bills!
Location
St. Louis is the second-largest city in MO. It sits near the confluence of the Mississippi and the Missouri Rivers, on the western bank of the latter. As of 2019, the city proper had an estimated population of around 300,000, while the bi-state metropolitan area, which extends into IL, had an estimated population of over 2.8 million, making it the largest metropolitan area in Missouri, the second-largest in IL, the seventh-largest in the Great Lakes Megalopolis, and the 22nd-largest in the US.
With a metropolitan GDP of more than $160 billion in 2017, metropolitan St. Louis has a diverse economy with strengths in the service, manufacturing, trade, transportation, and tourism industries. It is home to nine of the ten Fortune 500 companies based in Missouri. Major companies headquartered or with significant operations in the city include Ameren Corporation, Peabody Energy, Nestlé Purina, Anheuser-Busch, Wells Fargo, Stifel Financial, Spire, Inc., MilliporeSigma, FleishmanHillard, Square, US Bank, BlueCross and Blue Shield, Federal Reserve Bank, USDA, National Geospatial-Intelligence Agency, & Centene Corporation.
Belmont MHP is located just west of the famous Cahokia Mounds. The remains of the most sophisticated prehistoric native civilization north of Mexico are preserved at Cahokia Mounds State Historic Site. Within the 2,200-acre tract lie the archaeological remnants of the central section of the ancient settlement that is today known as Cahokia. (Cahokiamounds.org)
St. Louis is also home to the St. Louis Cardinals professional baseball team. The Chicago Cubs have placed higher than the Cardinals in the NL Central in four out of the past five seasons
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 31 |
| Total Occupancy: | 71.0 % |
| Year Built: | 1970 |
| Average MH Lot Rent: | $235 |
| Size: | 9 acre(s) |
Lot Information
| Singlewide Lots: | 31 |
Utility Information
| Water: | City |
| Water Paid By: | Park |
| Sewer: | City |
