Remarks

SRG is pleased to offer this low-rise/garden style 32-unit apartment community to the market. The property offers investors significant rent upside potential compared to submarket averages (up to $359 in rent upside) and a strong mix of primarily two-bedroom units.

There are multiple value-add strategies to maximize returns - raising rents for units in their current condition (low in place rent for 1 bed units is $475 & $600 for 2 bed units); or completing cosmetic updates and adding in-unit laundry which can command much higher rents. Competing submarket rents average $1,204 vs the property's average rent of $845. Please reach out to the brokers for more information.

Details

MLS#: 25010459
Price: $2,695,000

Style: Multi-Family 5+
Sq Ft: 28256.0
Year Built: 1961

County: St Louis
Subdivision: Atherton 1
Lot Size: 0101 / 0101 - 0218 / 0222
Tax Fee: 8003

School Elementary: Barbara Jordan Elem.
School Middle: Brittany Woods
School High: University City Sr. High
School District: University City