Zimmer Real Estate Services, as exclusive advisor, is pleased to present the opportunity to acquire Piedmont Square Townhomes (the “Property”), a 20-unit townhome community located at 802 W Wakefield Ave, Sikeston, Missouri 63801.
The property offers an attractive mix of 4 one-bedroom units and 16 two-bedroom units, with an average unit size of 1,169 SF. The property has a current occupancy of 100% due to the affordable rents, location, and spacious floorplans. With a proven value-add plan with rents increases as units turn, this offers a prime opportunity to continue with renovations and push rents. Ownership is currently realizing ±$200 increases for new rents.
The seller has recently implemented a series of capital expenditures in the last 12-months to include but not limited to: new roofs, new flooring, and fresh paint.