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Image 1 - Morganford Apartments, Morganford Road, St. Louis, MO 63116, USA - House for sale
Image 2 - Morganford Apartments, Morganford Road, St. Louis, MO 63116, USA - House for sale
Image 3 - Morganford Apartments, Morganford Road, St. Louis, MO 63116, USA - House for sale
Image 4 - Morganford Apartments, Morganford Road, St. Louis, MO 63116, USA - House for sale
Image 5 - Morganford Apartments, Morganford Road, St. Louis, MO 63116, USA - House for sale
Image 6 - Morganford Apartments, Morganford Road, St. Louis, MO 63116, USA - House for sale
Home For Sale In Saint Louis, Missouri
Morganford Apartments, Morganford Road, St. Louis, MO 63116, USA

Home For Sale In Saint Louis, Missouri

house for sale
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Listed: 03/09/24

Morganford Apartments, Morganford Road, St. Louis, MO 63116, USA

Studio Bed:
45,276 Sq Ft Living Area:
Price
$ 3,25M
Sold

About This House

Incredible opportunity to acquire the Morganford Plaza Apartments, a 40-unit apartment community at3725-41Morganford 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.

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