Santa Ana Apartments
Multifamily | 169 Units
Marketing description
Santa Ana Apartments was most recently an LIHTC senior-designated multifamily property featuring 169 units and is currently vacant and ready for redevelopment. The property was built in 1972 and contains 124,290 square feet in a 14-story elevator served building on a 1.76 acre lot.
This asset provides an exceptional opportunity for investors and developers alike to develop the property to it's highest and best use. Santa Ana Apartments offers a rare combination of scale, an existing footprint, and a strategic location that supports a range of reconfiguration opportunities. The property's vacant status allows for an immediate redevelopment. Its previous use as an affordable multifamily complex suggests a strong underlying need for accessible housing in the area, offering a compelling opportunity to reintroduce or re-envision a vital community asset. Potential redevelopment uses are vast, and could include multifamily, senior living and behavioral health.
Former property features include controlled access, a community room, fitness center, laundry facilities and 69 off-street parking spaces.
St. Ann's central location within St. Louis County provides convenient access to major employment centers, retail corridors, and transportation networks, making it an attractive location for future residents.
Investment highlights
- Currently vacant, 169-unit, previous LIHTC senior-designated multifamily property located in St. Ann, MO
- ±1.76 acre site
- Out of initial Tax Credit Compliance Period and eligible for re-syndication
- Floors 7-14 are operational - 57 of the 104 units on Floors 7-14 were fully renovated in 2020
- Most critical systems are functional, having been modernized or entirely replaced between 2017-2019
- Rooftop cell tower lease can provide more than $2500/month in revenue through 2033
- Potential to add roof-top amenity with views of St. Louis
- Close proximity to the $1.8 billion dollar Boeing defense campus expansion redevelopment providing improved occupancy demand
- 1.2 miles from the I-70 & Lindbergh Blvd. Interchange providing quick access to the St. Louis Metro area
- 1.4 miles from St. Louis-Lambert International Airport
- Close to Lindbergh Blvd. and The Crossings at Northwest with convenient access to restaurants and retail
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