Active
3725 Morgan Ford Road
St Louis MO, 63116
$3,250,000
$71.78 per sqft
Active
45,276 sqft
Commercial
Built in 1965
Incredible opportunity to acquire the Morganford Plaza Apartments, a 40-unit apartment community at 3725-41 Morganford Road, in St. Louis, Missouri. The property offers a strong value add opportunity with strong rental demand and an average in-place rent upside of $85 plus $40 RUBs per unit per month on average for a total of $125 average rent upside per unit. However, when updating units
cosmetically, units are increasing up to $200 a month plus $40 RUBs.
The property offers an attractive unit mix with 24, 1 bedroom units and 16, 2 bedroom units and has had some major updates in
recent years including: new TPO roofs, all newer HVAC systems, updated laundry facility, and updated common grounds. Some
units have been updated offering a proven concept for higher rents.
The property does offer assumable Freddie Mac debt. Terms are
outlined later in this offering memorandum.
24012761
MLSⓇ ID
May 9, 2024
Updated
Map
3725 Morgan Ford Road
St Louis MO, 63116
Interior Features
Laundry Description
Common Laundry
Fireplace
No
Cooling
Yes
Cooling Description
Electric
Heating
Yes
Heating Description
Forced Air
Exterior/Building Features
Sewer
Public Sewer
School Information
School District
St. Louis City
High School
Roosevelt High
Elementary School
Oak Hill Elem.
Other Property Details
Area Name
South City
Taxes
$18,363
Tax Frequency
Annually
Days on Market
22
Garage
No
Parking
Parking Lot
View
No
County
St Louis City
Municipality
St. Louis City
Water Source
Public
Pool
No
Buyer Agency Compensation
1.25%
Listing History
Date | Event | Price |
---|---|---|
5/1/2024 | Active | — |
3/26/2024 | Pending | — |
Courtesy of Salient Realty Group, LLC, Timothy McCarthy
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