3725 Morgan Ford Road
St Louis,
MO
63116
Property Details
List Price: |
$3,250,000 |
Beds: |
-- |
Baths: |
-- |
Status: |
Active |
SqFt: |
45276 |
Agency: |
Salient Realty Group, LLC |
Description/Comments
Lot Size: |
-- |
Property Type: |
MultiFamily |
Year Built: |
1965 |
Notes: |
Incredible opportunity to acquire the Morganford Plaza Apartments, a 40-unit apartment community at 3725-41 Morganford Road, in St. Louis, Missouri. The property offers a strong value add opportunity with strong rental demand and an average in-place rent upside of $85 plus $40 RUBs per unit per month on average for a total of $125 average rent upside per unit. However, when updating units<br />
cosmetically, units are increasing up to $200 a month plus $40 RUBs.<br />
The property offers an attractive unit mix with 24, 1 bedroom units and 16, 2 bedroom units and has had some major updates in<br />
recent years including: new TPO roofs, all newer HVAC systems, updated laundry facility, and updated common grounds. Some<br />
units have been updated offering a proven concept for higher rents.<br />
<br />
The property does offer assumable Freddie Mac debt. Terms are<br />
outlined later in this offering memorandum. |
MlsNumber: |
24012761 |
Estimate Your Monthly Payment
Listing Provided By: |
Salient Realty Group, LLC, original listing |
Name: |
Salient Realty Group, LLC |
Phone: |
(314) 374-3687 |
Office Name: |
Salient Realty Group, LLC |
Office Phone: |
(314) 374-3687 |
Agent Name: |
Timothy McCarthy |
Disclaimer: |
Copyright © 2024 MARIS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. |