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Key Details
Sold Price $3,225,000
Property Type Multi-Family
Sub Type Multi-Family 5+
Listing Status Sold
Purchase Type For Sale
Square Footage 33,000 sqft
Price per Sqft $97
Subdivision Na
MLS Listing ID 24030794
Sold Date 08/23/24
Construction Status 64
Year Built 1960
Building Age 64
Lot Size 1.760 Acres
Acres 1.76
Property Description
Forest Grove Apartments is a 32 unit apartment community comprised of 28-two bedroom units and 4-three bedroom units with average rents of $1,020 per month. The Property offers plenty of upside potential to generate an additional $4,000 per month in revenue based on current in place rents. The owner has completed numerous capital improvements, including: new roofs, new gutters, deck replacement, parking lot repaving/striping, new flooring in stairwells, new exterior paint, all new electrical panels, updated laundry facility and several HVAC replacements within the last 24 months. Forest Grove is a low maintenance, turn-key investment opportunity that would be perfect for a seasoned investor or a new Buyer looking for a great opportunity. Additionally, the surrounding area has a ton of new development and employment. Forest Grove Apartments is located near the new (50 acre, $211-million) "Market at Olive Development" located at Interstate 170 and Olive Blvd.
Location
State MO
County St Louis
Area University City
Interior
Heating Forced Air
Cooling Electric
Fireplace N
Laundry Coin Operated, Common Laundry
Exterior
Parking Type Accessible Parking, Parking Garage, Parking Lot
Building
Sewer Public Sewer
Water Public
Structure Type Brick Veneer,Fl Brick/Stn Veneer
Construction Status 64
Schools
Elementary Schools Flynn Park Elem.
Middle Schools Brittany Woods
High Schools University City Sr. High
School District University City
Others
Ownership Private
Acceptable Financing Second Available, Cash Only, Conventional
Listing Terms Second Available, Cash Only, Conventional
Special Listing Condition None
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Bought with Robert Ecker
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