11065 Dunklin Dr - Apartments FOR SALE


Saint Louis, MO 63138- Spanish Lake
$3,750,000 USD
301-706-4619
11065 Dunklin Dr, Saint Louis, MO for Sale
$3,750,000 USD
Apartments - FOR SALE
1/27
null | Request Cap Rate

11065 Dunklin Dr
Saint Louis, MO 63138
Spanish Lake


HIGHLIGHTS

  • STARTING BID $3,750,000 | Trinity Park Apartments | 490 Units | 38.7% Occupied | AUCTION FEBRUARY 16-18
  • Scale & Site: 490 units across 34 buildings totaling ±372,360 SF on ±24.08 acres with a mix of 285 one-bedrooms and 205 two-bedrooms
  • Affordable Program Profile: LIHTC (Section 42) in service 2007/2008 and expires 2037/2038. 436 units restricted at =60% AMI
  • Lease-Up / Value-Add: 38.7% occupancy; T-12 average rent ±$610 with 2024 60% AMI rent caps of $972 (1BR) / $1,209 (2BR) providing headroom
  • Community Amenities & Ops: Clubhouse, pool, fitness, tennis, picnic/BBQ area, laundry, elevator, on-site management/maintenance; tenant-paid: cable
  • Location & Demand Drivers: 13 miles north of Downtown St. Louis, 14 miles to Lambert Int’l Airport; quick access to I-270 & Route 367; near St. Louis

OVERVIEW

Marcus & Millichap is pleased to offer Trinity Park Apartments, a 490-unit LIHTC and Section 8 multifamily community on ±24.08 acres in North St. Louis. The asset presents a clear lease-up/value-add story: physical occupancy is ±38.7%, average in-place rents are ±$610, and 2024 60% AMI caps allow higher achievable rents within program guidelines. Comprised of 34 buildings, the Property offers a desirable mix of 285 one-bedroom apartments and 205 two-bedroom apartments. Community amenities include a clubhouse, pool, fitness, picnic area, tennis, laundry, elevator, and on-site management. The portfolio benefits from LIHTC compliance through 2037/2038, 102 units HUD Section 8 Project Based Rental Assistance, and a 20-year Option 2 renewal (effective 2025), providing income stability and mission alignment. Trinity Park Apartments is located 13 miles from Downtown St. Louis with access to Interstate 270/Route 367, major employers, and the forthcoming Saint Louis Zoo Wildcare Park.

FOR SALE DETAILS

PRICE

$3,750,000 USD

PRICE/SF

$10 USD /SF

# OF UNITS

490

PRICE/UNIT

$7,653

CAP RATE

Request Cap Rate

% LEASED

39%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Auction - Trinity Park | 490 Units | 38% Occ.

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1970

PARKING SPACES

-

LAND DETAILS

LAND ACRES

9.91 AC

LAND SF

431,680 SF

ZONING

R6

APN/PARCEL ID

10D-43-0224,10D-43-0233,10D-43-0242

ASK ABOUT THIS PROPERTY

Adam SklaverMarcus & MillichapMore Info
301-706-4619

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Adam SklaverMarcus & MillichapMore Info
301-706-4619

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