3646 Illinois Ave - Apartments FOR SALE


Saint Louis, MO 63118- Marina Villa
$2,800,000 USD
314-451-7145
3646 Illinois Ave, Saint Louis, MO for Sale
$2,800,000 USD
Apartments - FOR SALE
1/6
null | Request Cap Rate

3646 Illinois Ave
Saint Louis, MO 63118
Marina Villa


HIGHLIGHTS

  • 38 - 1 bedroom units
  • In-place rents ~8% below market - Occupied units are under $700/month, offering built in value-add potential
  • 14 vacant units allow for quick lease-up and NOI growth
  • Strategic renovations and improved management present a simple value-add opportunity

OVERVIEW

Salient Realty Group is pleased to present the Concord Apartments located in the heart of South City in St. Louis. The property consists of 38, 1 bedroom units. In-place rents average around $685/month, with renovated units achieving $743/month, showing clear rent upside. The property currently has 14 vacant units ready for lease-up creating immediate upside through stabilization and rent growth.

FOR SALE DETAILS

PRICE

$2,800,000 USD

PRICE/SF

$118 USD /SF

# OF UNITS

38

PRICE/UNIT

$73,684

CAP RATE

Request Cap Rate

% LEASED

63%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Concord Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1959

PARKING SPACES

40

LAND DETAILS

LAND ACRES

0.9 AC

LAND SF

39,291 SF

ZONING

B, City

APN/PARCEL ID

1661-00-0010-0,1661-00-0020-0,1661-00-0030-0,1661-00-0040-0,1661-00-0050-0,1661-00-0060-0

ASK ABOUT THIS PROPERTY

Tim McCarthySalient Realty Group LLCMore Info
314-451-7145

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Tim McCarthySalient Realty Group LLCMore Info
314-451-7145

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