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29324646
29324647

7298 N Hanley Rd, Hazelwood, MO 63042

MM
MO 2024031548
Salient Realty Group
GL
MO 2015014613
Salient Realty Group
JA
MO 2019046652
Salient Realty Group
Listed by Salient Realty Group
$2,975,000
134 days on market
Updated 134 days ago

Morningside Apartments

Details
APN 09K-32-4222
Property Type Multifamily
Sub Type Apartment Building
Square Footage 49,357
Net Rentable (SqFt) 53,150
Units 35
Cap Rate 8.03%
NOI $238,955
Occupancy 100%
Price per SqFt $60
Class C
Year Built 1967
Buildings 2
Stories 2
Zoning 80E
Parking Spaces spaces

35 Units | Value Add Opportunity | For Sale

Marketing description

This substantial multi-building asset represents a premier opportunity to acquire a stabilized community with a consistent track record of operational success. Spanning nearly 10 acres, the property features a high-density mix of garden-style units and expansive multi-level floor plans, all anchored by durable brick construction. The current configuration is designed for efficiency and longevity, offering a robust foundation for an owner looking to secure a large-scale footprint in a high-demand corridor.

The true value of this property lies in its immense upside and value-add potential. With units in a well-maintained, classic condition, new ownership has a clear path to rent growth through targeted interior upgrades and modernized finishes. Each unit is already equipped with high-value features like full private basements, dedicated utility spaces, and private outdoor areas—amenities that provide a competitive edge in the local market. This is a turnkey acquisition positioned for immediate optimization and long-term equity appreciation.

Investment highlights

32 Townhomes + 3 Apartments

All Townhomes 2 Bed 1.5 Bath Layouts

Value Add Opportunities

In-Unit Washer and Dryer

100% Occupancy

Listing Contacts

MM
MO 2024031548
Salient Realty Group
GL
MO 2015014613
Salient Realty Group
JA
MO 2019046652
Salient Realty Group
Listed by Salient Realty Group

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$238,955.00
$19,912.92/mo

Valuation Metrics

0
DSCR
8.03%
Cap Rate
8.03%
ROI

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Additional Information

Name
Matthew Millslagle
License
2024031548
Brokerage Phone
3142005352
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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