University Villa Apartments
New Price | 76 Unit Value-Add Opportunity with 100% Occupancy, Near University of St. Louis, MO
Marketing description
CBRE, as exclusive marketing advisor, is pleased to present the opportunity to acquire University Villa Apartments (“the Property”), a 76-unit, garden-style apartment community situated on 2.13 acres in St. Louis, Missouri. Constructed in 1947, 1963 and 1965, and fully-renovated in 2015, the residential property includes 50,000 total square feet of rental space throughout eight buildings.
Investors have an opportunity to acquire a well-performing multifamily asset that is primed for rent upside. Current rents are below market rates, providing immediate upside potential for future ownership through rental increases.
University Villa Apartments is ideally located with direct access to the University of Missouri-St. Louis campus with more than 14,000 students and ±1,000 faculty. The Property is being sold on a free & clear basis.
Investment highlights
Established 76-unit multifamily property located in St. Louis with direct access to the University of Missouri-St. Louis campus
Well-maintained brick construction
All roofs were replaced in 2021
Full gut rehabbed of all units was completed in 2015
Below-market rents allowing immediate value-add for new ownership
Strong in-place cash flow with occupancy at 100%
Favorable mix of one and two-bedroom apartment floor plan styles with 53% being 2-bedroom units
Each building has shared laundry facilities
One-Mile Demographics with an average household income of $73,446 reflects a solid middle-class foundation
Ample parking of 95 spaces in gated lot
Easy access to I-70 and walking distance to MetroLink stop
High barrier to entry market
Offered free and clear of encumbrances and below replacement cost
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