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