8435 Atherton Dr - Apartments FOR SALE


Saint Louis, MO 63130- Vinita Park
$2,695,000 USD
314-451-7471
8435 Atherton Dr, Saint Louis, MO for Sale
$2,695,000 USD
Apartments - FOR SALE
1/17
null | 7.12% Cap Rate

8435 Atherton Dr
Saint Louis, MO 63130
Vinita Park


HIGHLIGHTS

  • Below market rents - up to $359/mo Rent Upside Compared to Submarket Avgs
  • Multiple Value Add Strategies | Raise In Place Rents | Raise Further w/ Cosmetic Updates
  • Large Unit Sizes (700 SF 1 bd's | 900 SF 2 bd's)
  • Strong Unit Mix - Majority of Two Bed Units (75%)
  • Great Mid County Location
  • Near New Costco & Olive Crossing Development

OVERVIEW

SRG is pleased to offer this low-rise/garden style 32-unit apartment community to the market. The property offers investors significant rent upside potential compared to submarket averages (up to $359 in rent upside) and a strong mix of primarily two-bedroom units. There are multiple value-add strategies to maximize returns - raising rents for units in their current condition (low in place rent for 1 bed units is $475 & $600 for 2 bed units); or completing cosmetic updates and adding in-unit laundry which can command much higher rents. Competing submarket rents average $1,204 vs the property's average rent of $845. Please reach out to the brokers for more information.

FOR SALE DETAILS

PRICE

$2,695,000 USD

PRICE/SF

$19 USD /SF

# OF UNITS

32

PRICE/UNIT

$84,219

CAP RATE

7.12%

% LEASED

97%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Atherton Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1961

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.53 AC

LAND SF

23,133 SF

ZONING

C

APN/PARCEL ID

16K-61-0712

ASK ABOUT THIS PROPERTY

Garen LafserSalient Realty Group LLCMore Info
314-451-7471

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Garen LafserSalient Realty Group LLCMore Info
314-451-7471

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.