314-655-6060
1269 Mangrove Ln, Saint Louis, MO for Sale
Apartments - FOR SALE
1/28
null | Request Cap Rate

1269 Mangrove Ln
Saint Louis, MO 63125
Mehlville


HIGHLIGHTS

  • Established 72-unit garden-style property located in the South County submarket of St. Louis
  • Opportunity to push rents through unit upgrades during new ownership period
  • Potential development opportunity on ReNew Cross Creek #3, a vacant 3.45 acre parcel
  • Well-maintained asset with $1.46M of capital expenditures since 2020
  • Ideal mix of one and two-bedroom floor plans averaging 962 SF
  • High barrier to entry market

OVERVIEW

CBRE is pleased to present an exceptional investment opportunity – ReNew Cross Creek (“Property”), a remarkable multifamily property consisting of 72 units plus an additional 3.45 acres for potential development, ideally situated in Mehlville, Missouri. The Property serves as a testament to comfort and style, providing residents with an unparalleled living experience. Each unit is thoughtfully designed, featuring a range of modern amenities such as wood-burning fireplaces, luxurious carpets, and smart home upgrades. The spacious floor plans include one or two bedrooms, allowing for flexible living arrangements to suit various needs. ReNew Cross Creek Apartments enjoys a prime location with convenient access to major transportation routes. Situated near Highway 55 and Highway 270, residents benefit from easy connectivity to St. Louis County and surrounding metro areas. This strategic positioning allows for seamless commuting and provides residents with the opportunity to explore all the attractions and amenities the region has to offer. ReNew Cross Creek is offered with attractive assumable debt of 4.75% or on a free-and-clear basis. A call for offers date will be announced during marketing.

FOR SALE DETAILS

PRICE

Request Info for Price

# OF UNITS

72

CAP RATE

Request Cap Rate

% LEASED

94%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

ReNew Cross Creek

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1987

PARKING SPACES

121

LAND DETAILS

LAND ACRES

6.58 AC

LAND SF

286,595 SF

ZONING

R6

APN/PARCEL ID

28H-42-0853,28H-42-3300

ASK ABOUT THIS PROPERTY

314-655-6060

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

314-655-6060

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