Ri Marketplace Online Auction December 15th-17th, 2025
Register to bid on Marketplace:

https://rimarketplace.com/auction/2910/15-cap-rate-mobile-home-park-st.-louis-mo-msa-substantial-upside-?utm_source=mhp&utm_medium=listing&utm_campaign=external&utm_content=multifamily_2910

Investment Highlights
44-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
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.

Property Overview
Friedman Real Estate, in partnership with RI Marketplace, is pleased to present the exclusive marketing and sale of a 44-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 Overview
East Alton, Illinois, is a dynamic community located within the greater St. Louis metropolitan area. Its position near the Mississippi River places it close to major transportation corridors, regional employers, and a broad mix of amenities. The community benefits from its access to the economic strength of the surrounding region, including manufacturing, distribution, and industrial operations that support local jobs and long-term growth. East Alton’s proximity to St. Louis also provides convenient connections to cultural attractions, entertainment, and travel routes, making it an appealing location for residents and businesses within the Metro East area.

St. Louis, Missouri, is a lively city on the western bank of the Mississippi River and is known for its rich history, vibrant culture, and iconic landmarks such as the Gateway Arch. As the largest city in Missouri, it offers world-class museums, a thriving arts scene, and a diverse economy supported by healthcare, education, and manufacturing. The city serves as a major cultural and economic hub for the region, with a strong transportation network that links it to communities throughout the Midwest. St. Louis remains a central point for business, tourism, and innovation, offering a wide range of attractions and opportunities that draw visitors and residents from across the country.

Scott Bowers
c/o Fisher Auction Company Inc.
License: 040000273
The platform fee for this transaction is the greater of 5.00% or a minimum of $25,000.