Atherton Apartments - 32 Units - Value Add
$2,695,000
8435 Atherton Dr, Saint Louis, MO 63130
For Sale
Multifamily
Garden Low Rise
Active
Last Updated: 02/26/2025
28,256 sqft
Building Size
0.5311 acres
Lot Area
Details:
Building Size: 28,256 sqft
Lot Area: 0.5311 acres
Occupancy: 91%
Class: C
Units: 32
Year Built: 1963
Floors: 2
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
Description:
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.
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Documents:
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| SRG___Atherton_Apartments___OM.pdf | ||
| SRG___Atherton_Apartments___OM.pdf |
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Location
Gallery
