1A Parktown Dr Granite City, IL 62040
- Mobile home & RV parks
- 8.30 lot acres
Current Use by Public Records
- Mobile home & RV parks
Property Details for 1A Parktown Dr
- Lot size
- 8.30 lot acres
- Property type
- Mobile home & RV parks
- Property subtype
- Campgrounds
Description
This exceptional investment opportunity presents an 81-unit mobile home park and apartment building complex situated on 8.3 acres in Granite City, Illinois. Currently operating at 51% occupancy, the property boasts a Net Operating Income (NOI) of approximately $136,000. A significant value-add potential exists, with projections indicating a stabilized NOI of approximately $311,000 upon reaching full occupancy. The property features some of the lowest lot rents in the area, offering affordable housing in a safe, clean, and quiet environment. Its strategic location, just 15 minutes from downtown St. Louis, Missouri, provides convenient access to a wealth of employment and retail opportunities. The surrounding area is densely populated, with approximately 200,000 residents within a 10-mile radius, boasting an average household income of $60,000. This multifamily and RV park property presents a compelling investment opportunity with substantial upside potential for a savvy investor. The property is being offered via auction sale. Detailed financial information and property specifics are available upon request.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Granite City
- County
- Madison
- State
- Illinois
- Longitude
- -90.1662
- Latitude
- 38.7098
