314-374-6670
8503 Gulf Dr, Saint Louis, MO for Sale
Multi-Family - FOR SALE
1/12

8503 Gulf Dr
Saint Louis, MO 63130
Vinita Park


HIGHLIGHTS

  • All units are single level and have private basements, some with walkout
  • High efficiency HVAC systems and newer roofs
  • Complex has a park-like feel spread out over 4 acres

OVERVIEW

Offered for sale is this 44 Unit apartment complex located in the heart of the St.? Louis MO MSA near Page and I-170.? The offering consists of 44 units spread across 11 buildings, on a park like setting of 4.28 acres.? The complex is currently 96% occupied providing immediate and stable in place cash flow.? All leases are structured on 12 month basis.? The property generated $721,000 on T12 in total operating income, with additional upside through lease-up and scheduled rent increases for 2026 / 2027.? ?Assumable Fannie Mae Small Loan for qualified investor - Non Recourse Loan - 6.17% on 7 yr term, Interest only for 3 years - Incepted January 2025 - 71% Leverage day 1 ?Immediate upside with in process rent increases on renewals and lease up ?Major renovation completed in 2023 ?7.5% cap rate on pro forma ?Major renovation in 2023 to include - 100% of roofs replace - All HVAC updated with High Efficiency systems and thermostats - Landscaping and drainage improvements - Kitchen updates: appliances, refaced cabinetry, flooring - Bathroom updates: refaced cabinetry, hardware and surrounds - 30% of units renovated with "Premium Finishes" including granite counters and new vanities

FOR SALE DETAILS

PRICE

Request Info for Price

# OF UNITS

44

CAP RATE

Request Cap Rate

% LEASED

96%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Gulf Drive Townhomes

PROPERTY TYPE

Multi-Family

ADD'L SUBTYPES

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1965

PARKING SPACES

-

LAND DETAILS

LAND ACRES

4.28 AC

LAND SF

186,437 SF

ZONING

-

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Ken WedbergRealty Exchange Commercial GroupMore Info
314-374-6670

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Ken WedbergRealty Exchange Commercial GroupMore Info
314-374-6670

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