24 Unit Building near NGA | 10.89% Cap Rate w/ Upside

Highlights:

• 24 Multifamily Units Fully Renovated in 2013
• 12.80% Cap Rate w/ In Place RR & T12 Expenses
• Very Strong In-Place Performance w/ Significant Upside
• Walkable to the Brand New NGA Campus
• Mix of 1 Bd / 1Ba, 1 Bd / 1.5 Ba and 2 Bd / 1.5 Ba Units

Description:

The Benton Street Apartments are a 24-unit multifamily asset in St. Louis City in walking distance to the new NGA West Headquarters. This historic brick row-style property was completed renovated in April of 2013 and offers a classic architectural presence with updated interiors, in-unit laundry hook ups, updated appliances, updated flooring, kitchens, and more. With close proximity to Downtown, major highways, public transit, and key redevelopment zones, Benton Street Apartments are well positioned for long-term appreciation and consistent cash flow. Ideal for investors seeking scale and value in an emerging urban corridor.

The current rent roll totals $17,690 which includes two vacant units and two down units. This allows investors to raise occupancy and renovate the two down units to increase cash flow significantly. With the current rent roll annualized and T12 expenses, the property is performing at a 12.80% cap rate which offers incredibly strong returns with great upside potential. Please reach out to the brokers with any questions.


Benton Street Apartments are centrally located in the historic St. Louis Place neighborhood, offering convenient access to major transportation routes and urban amenities. Positioned just minutes from I-70 and I-44, residents benefit from easy connectivity to downtown St. Louis, the Central West End, and regional employment hubs. The property is located less than 2 miles from the new NGA West Headquarters, a major federal investment in the area, and is also close to the revitalized North Riverfront and the popular City Foundry STL.

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