40 Unit Complex in South City
$3,595,000
3725 Morgan Ford Road, St. Louis, MO 63116
45,276 sqft
Building Size
B
Class
Details:
Highlights:
- 40 Unit Apartment Complex w/ Upside
- Mix of 24, 1 Bed Units | 16, 2 Bed Units
- Newer TPO Roofs and HVAC Systems
- Updated Electric Panels, Copper Plumbing Stacks
- Ample Parking Lot
- Billboard Paying $2,000 Annually
- Cosmetic Updates Proven to Raise Rents
Description:
Salient Realty Group is pleased to present this opportunity to acquire the Morganford Plaza Apartments, a 40-unit apartment community at 3725-41 Morganford Road, in St. Louis, Missouri. The property offers a strong value add opportunity with below market rents and a proven concept of conducting cosmetic unit updates to raise rents. It's rare to find a complex of this size and quality priced under $90,000 per unit.
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: newer TPO roofs, all newer HVAC systems, updated laundry facility, and updated common grounds. Approximately 25 units have had cosmetic updates done, leaving 15 more to do and increase rents. A billboard is also located on the property and pays $2,000 annually. Reach out to the brokers for more information on this opportunity.
3725 Morgan Ford Road is located in St. Louis’s Tower Grove South neighborhood, just a few blocks south of Tower Grove Park. The property sits along Morgan Ford Road, a corridor lined with local restaurants, coffee shops, and small retail storefronts that draw steady neighborhood foot traffic. Within walking distance are well-known spots like Amsterdam Tavern, The Dam, and Local Harvest Café, along with several newer bars and eateries that reflect the area’s ongoing growth. Gravois Avenue is only a few blocks north, providing direct access to additional retail and daily conveniences. Nearby, South Grand Boulevard offers a wider selection of dining, grocery, and service options, while the Central West End and Downtown are each within a fifteen-minute drive. Public transit options are readily available along Morgan Ford and Gravois, connecting residents to other parts of the city. The surrounding area includes a mix of residential streets, small apartment buildings, and active local businesses. Overall, the location provides a blend of accessibility and neighborhood charm in one of South St. Louis’s most walkable districts.
Documents:
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| SRG___Morganford_Plaza_Apartments___OM.pdf | ||
| SRG___Morganford_Plaza_Apartments___OM.pdf |
Location
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