Property
1 more
Presented By: Salient Realty Group, LLC
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
cosmetically, units are increasing up to $200 a month plus $40 RUBs.
The property offers an attractive unit mix with 24, 1 bedroom units and 16, 2 bedroom units and has had some major updates in
recent years including: new TPO roofs, all newer HVAC systems, updated laundry facility, and updated common grounds. Some
units have been updated offering a proven concept for higher rents.
The property does offer assumable Freddie Mac debt. Terms are
outlined later in this offering memorandum.
Presented By: Salient Realty Group, LLC
Above Grade Finished Area45276
Above Grade Finished Area SourcePublic Records
Heating Y/NYes
Laundry FeaturesCommon Laundry
Street SuffixRoad
Attached Garage No
CitySt Louis
CoolingElectric
CountySt Louis City
Days on Market22
DirectionsGPS.
DisclosuresUnknown, No Other Known Restr, Sellers Discl Not Av
Elementary SchoolOak Hill Elem.
HeatingForced Air
High SchoolRoosevelt High
High School DistrictSt. Louis City
MLS AreaSouth City
Middle/Junior High SchoolLong Middle Community Ed. Center
NeighborhoodTower Grove South
Net Operating Income248874
Ok to LeaseLeases
PossessionClose Of Escrow
Property SubTypeMulti-Family 5+
Property TypeCommercial Sale
SewerPublic Sewer
Standard StatusActive
Street NameMorgan Ford
Subdivision NameTower Grove South
Tax Annual Amount18363
Tax Year2023
Tenant PaysElectricity, Gas
Total Units40
TownshipSt. Louis City
Year Built1965
InclusionsBuilding & Land
Lot Dimensions255.77 x 155.42
Parking FeaturesParking Lot
Water SourcePublic
Elementary School
Oak Hill Elem.
Middle School
Long Middle Community Ed. Center
High School
Roosevelt High
Realtor