23 Door Rental Portfolio
Multifamily | 8.20% CAP | 23 Units
Marketing description
23-Door Greater St. Louis Rental Portfolio
Rare opportunity to acquire immediate rental scale in the Greater St. Louis market. This 23-door scattered-site residential portfolio includes a mix of single-family homes, duplex/small multifamily units, and manufactured homes across several established rental submarkets.
Offered at $2,850,000, the portfolio is projected to generate approximately $28,361/month in gross rent at time of sale, or approximately $340,332 annually. The offering provides an attractive blend of current income, geographic diversification, and near-term upside through lease-up of in-progress units, continued rent optimization, and operational efficiencies.
With assets located across multiple St. Louis-area zip codes, this portfolio is well-positioned for an investor seeking to expand quickly without the friction of one-off acquisitions. Existing leases provide immediate income, while remaining upside gives the next owner a clear path to improve returns.
Seller may consider carryback financing for a qualified buyer with the right offer structure.
Investment highlights
- Price Per Door: ~$123,913
- GRM: 7.27
- Majority of units leased or in lease-up at time of sale
- Staggered lease expirations providing near-term flexibility and stability
- Average rents approximately $1,300/unit
- Consistent tenant demand across submarkets
- The portfolio is actively transitioning toward full stabilization, offering immediate and identifiable upside:
- Lease-up of currently vacant units
- Mark-to-market rent opportunities
- Operational efficiencies at scale
- Asset Notes
- Mix of 1-4 bedroom units (SFR + duplex configurations)
- Select manufactured homes included
- Targeted improvements completed and ongoing
- One asset located in a flood zone (no historical flooding)
- Portfolio scale supports efficient management
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