360 Schaefer Dr - Apartments FOR SALE


Branson, MO 65616
$4,650,000 USD
312-878-2792
360 Schaefer Dr, Branson, MO for Sale
$4,650,000 USD
Apartments - FOR SALE
1/13
null | 6.68% Cap Rate

360 Schaefer Dr
Branson, MO 65616


HIGHLIGHTS

  • Potential for sustained rent growth with no new supply in local pipeline
  • Potential for sustained rent growth with no new supply in local pipeline
  • Current owner is in the process of making all the tenants responsible for paying for their own electric

OVERVIEW

Here are some key highlights of the offering: • 83-unit multifamily asset ideally located within minutes of all that Branson has to offer and natural amenities near Table Rock Lake • Asset historically operated as a hotel, repositioned in 2015 as a market-rate property to fill a much needed hole in the market • Market occupancy of sampled comps sits over 95% in Branson, MO • Potential for sustained rent growth with no new supply in local pipeline The property is mainly occupied by seniors and sits at 98% full. They consistently have a waiting list at the property. All individual water heaters and fully furnished units. The biggest boost to the NOI has been the current owners putting tenants on their own electric. As of last week, 82 of the 83 tenants are now responsible for paying their own electric whereas five months ago the owners paid for all electric and did not bill back.

FOR SALE DETAILS

PRICE

$4,650,000 USD

PRICE/SF

$29 USD /SF

# OF UNITS

83

PRICE/UNIT

$56,024

CAP RATE

6.68%

% LEASED

98%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Holiday Terrace Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1994

PARKING SPACES

84

LAND DETAILS

LAND ACRES

2.26 AC

LAND SF

98,446 SF

ZONING

-

APN/PARCEL ID

18-1.0-02-002-001-003.005

ASK ABOUT THIS PROPERTY

Sean LyonsTriad Real Estate PartnersMore Info
312-878-2792

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Sean LyonsTriad Real Estate PartnersMore Info
312-878-2792

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