Description
One Loop Apartments includes 59 fully renovated apartments, conveniently located a half mile from Washington University's North Campus, and the Delmar Loop. There are 5 total buildings in the complex which have 9 (1) bed units, 13 (2) bed units, and 37 (3) bed units. 146 total bedrooms in the complex. The entire complex is fully renovated " with the last two units currently being completed. The complex is 96% full including 4 pending tenants scheduled to move in. The seller plans to sell the property with all of the apartments completed with 96%+ in occupancy. There is potential to raise the rents to the market rents for a good portion of the units, which could generate an additional $40,000+ annually in revenue. Priced at a 7.99% cap rate. With renovation completed the complex is similar to being new construction, which will keep maintenance and turnover costs low. All electric building. Laundry facility and playground was added. Includes secure gated parking with 76 parking spots.
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0BEDS
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2.02ACRES
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0BATHS
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01/2 BATHS
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53,034SQFT
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$115$/SQFT
School Information
Description
One Loop Apartments includes 59 fully renovated apartments, conveniently located a half mile from Washington University's North Campus, and the Delmar Loop. There are 5 total buildings in the complex which have 9 (1) bed units, 13 (2) bed units, and 37 (3) bed units. 146 total bedrooms in the complex. The entire complex is fully renovated " with the last two units currently being completed. The complex is 96% full including 4 pending tenants scheduled to move in. The seller plans to sell the property with all of the apartments completed with 96%+ in occupancy. There is potential to raise the rents to the market rents for a good portion of the units, which could generate an additional $40,000+ annually in revenue. Priced at a 7.99% cap rate. With renovation completed the complex is similar to being new construction, which will keep maintenance and turnover costs low. All electric building. Laundry facility and playground was added. Includes secure gated parking with 76 parking spots.
Listing information © 2023 Mid America Regional Information Systems, Inc. Information from third parties deemed reliable but not verified. Data last update 2023-03-30T16:39:24.69.
Clarity Street Realty: 314-963-7300
Listing provided courtesy of Invest St. Louis: 3256201. Listing information © 2023 Mid America Regional Information Systems, Inc.