9639-9640 Diamond Dr - Apartments FOR SALE


Saint Louis, MO 63137- Riverview
$3,870,000 USD
573-397-3288
9639-9640 Diamond Dr, Saint Louis, MO for Sale
$3,870,000 USD
Apartments - FOR SALE
1/22
null | 8.18% Cap Rate

9639-9640 Diamond Dr
Saint Louis, MO 63137
Riverview


HIGHLIGHTS

  • ALL BUILDINGS HAVE BRAND NEW REMODELS, LANDSCAPING, DECKS/WALKWAYS and SOME NEW ELECTRICAL
  • Price Per Unit (All In): $45,000.00
  • Investors Cap Rate: 7.81%
  • Investors Cash on Cash Return: 6.65%
  • CASH ON CASH WITH ALL UTILITIES BACK= 10.67%
  • Pro Forma Cash on Cash Return: 31.15%

OVERVIEW

This freshly renovated 86-unit apartment complex offers an exceptional blend of modern comfort and strategic location. Comprising two well-maintained buildings—one with 20 units and the other with 66—the property features a mix of one- and two-bedroom units, along with an onsite leasing office for seamless tenant management. Every unit has been meticulously updated, complemented by comprehensive upgrades such as flooring and full paint including new and repaired electrical systems in both buildings, replacement of most AC condensers and furnaces, brand-new parking lot, decks, and staircases. The grounds are enhanced with fresh landscaping and secure fencing, presenting a polished, move-in-ready appearance. Situated at the end of an established neighborhood of middle-class single-family homes and small multifamily properties—all recently renovated—the location provides a peaceful setting with minimal noise and traffic. Adjacent to over 100 acres of undeveloped city-owned land with no planned development, the property enjoys exceptional privacy and tranquility. The motel-style layout with exterior access ensures convenient entry for residents while supporting efficient operations. This turnkey asset represents a strong opportunity for investors seeking quality, income-producing multifamily real estate in the St. Louis market. With its current occupancy being 70%, the property still cashflows at the current asking price. All that will be left to do is continue leasing the remaining rent-ready units, to create further upside to both cashflow and equity/appraised value. JCRP Property Management company is available to assist any new buyer with great and competitive management services. This purchase is a no brainer for any committed investor!

FOR SALE DETAILS

PRICE

$3,870,000 USD

PRICE/SF

$43 USD /SF

# OF UNITS

86

PRICE/UNIT

$45,000

CAP RATE

8.18%

% LEASED

70%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

River Pointe Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1976

PARKING SPACES

100

LAND DETAILS

LAND ACRES

1.87 AC

LAND SF

81,457 SF

ZONING

Multifamily

APN/PARCEL ID

12E-61-0045

ASK ABOUT THIS PROPERTY

John CurryJCRP Realty & Property Management, LLCMore Info
573-397-3288

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John CurryJCRP Realty & Property Management, LLCMore Info
573-397-3288

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