Multifamily Property for Sale in St. Louis, MO

  • Price: $9M
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: St. Louis, MO 63136

Description

Five Property Value-Add Portfolio | CBRE is pleased to offer for sale Woodknoll Townhomes, a 150-unit apartment community located in St. Louis, Missouri. Built in 1971, the Property offers an investor the rare opportunity to acquire a stabilized asset with proven operating performance and tremendous upside potential. Most of the units are in classic or near classic condition, allowing new ownership the opportunity to push rents through further continued unit upgrades or increasing in-place rents to market rate. The Property features a mix of 2-bedroom and 3-bedroom units. Unit amenities include full basements with finished entertainment space and utility area with washer/dryer hookups, linen closets, updated flooring, and newer windows. With its strategic location just 2.5 miles from I-270, 10 miles from Lambert-St. Louis International Airport and 14 miles from downtown St. Louis, this property offers easy access to the city’s cultural and recreational attractions, making it an ideal investment opportunity in the St. Louis MSA. Woodknoll Townhomes is part of a larger 344 total unit, five property portfolio. Properties can be purchased individually or as a portfolio.

Market Context

This multifamily in St. Louis, MO is listed for sale at $9,000,000. It has been on the market for 163 days. Compare it against other multifamily listings for sale in St. Louis, MO — <a href="/search/sale/multifamily/missouri/st-louis">view the full market</a>.

As of Q3 2017, the St. Louis multifamily market showed a 4.1% vacancy rate, and rents up 2.3% year over year. Source: Cushman & Wakefield Q3 2017 market report.

Rising rents point to a competitive market where well-priced, well-located assets trade quickly.

Multifamily market FAQ

Is the St. Louis multifamily market tightening or softening?
Vacancy is around 4.1%, with asking rents rising year over year (Q3 2017).

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