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Published on: Friday, November 1, 2024
Updated on: Friday, November 1, 2024
About the Lister
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Name: Chris Maling
Company: Avison Young
Office Phone: +1 213.618.3824
Cell Phone: +1 213.364.7222
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  Beautiful Multifamily property

1342 N Garden Dr, St. Louis Saint Louis Missouri , 63138
1342 N Garden Dr, St. Louis Saint Louis Missouri , 63138  Avison Young
Listing ID: CL-Missouri-12673 Other/Multifamily

Purchase Option

Acquisition Option: Traditional Purchase
Cap Rate (%): 11.91
Net Operating Income: Contact Lister
Quick Glance
Listing ID: CL-Missouri-12673
Status: Accepting Offers
Financing: Third Party Financing
Occupancy: 90%
Year Build: 1968
Building Size: 131,290.00 SqFt
Lot Size: 131,290.00 SqFt.
No of Stories: 2
No of Parking: N/A
Offer to Millionaire Club: No
Business Available for Sale: No
Is Net Lease Investment: No
Property On Ground Lease: No
Building Status: Existing
Listing Summary
Avison Young is pleased to present the opportunity to acquire Timber Ridge Apartments. This is an excellent opportunity for an investor to increase occupancy and take advantage of the housing demand for multi-family units in this marketplace.
Complete Details
Year Build: 1968
Building Size: 131,290 SqFt.
No of Stories: 2
Total Lot Area: 131290 SqFt.
No of Parking: N/A
No of Total Units: 144
Property Current Status: Normal Sale
Building Status: Existing
Heating and Cooling: Not Specified
Building Class: B
Property on Ground Lease?: No
Net Lease Investment?: No
Business Price Included?: No
Roofing: Not Specified
Occupancy: 90%
Full Description
Avison Young is pleased to present the opportunity to acquire Timber Ridge Apartments. The multi-family complex has 144, two (2) bed, one (1) bath apartments that can suit a wide variety of necessities. In addition, the property features ample parking allowing easy access for all residents. Lender Foreclosure - potential investors should be aware the Lender acquired the property via a foreclosure. As a result, property is being sold in “As-Is” condition with no representations and warranties. During their short term of ownership, the Lender has started making units in rent-ready condition and leasing the units. This is an excellent opportunity for an investor to increase occupancy and take advantage of the housing demand for multi-family units in this marketplace.
Additional Properties
Property Highlights
  • 18 multi-family buildings with a cumulative ±131,290 SF of residential space, on ±6.07 AC of land
  • Property features 144 units, each of them is two (2) bed and one (1) bath
  • Low Price Per unit at only $34,375 per unit, Proforma Cap Rate with 10% vacancy is 11.91%
  • Property is located within one (1) mile of national credit tenants including Circle K, McDonald’s, Burger King, CVS, Dollar Tree and more
  • Close proximity to Interstate 270 and Highway 367
Features
  • Abundant parking
Listing Location
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