2 Bruce Drive
- Three four family buildings located at 1, 2, 3 Bruce Drive can be sold individually, or all together. These buildings are being sold as a larger group of 44 units in the cul-de-sac.
- Extensive Renovations & Capital Investment: The 44 apartments spanning 7 buildings in the complex underwent extensive renovations (2023-2026) with over $2.2 million in capital expenditures.
- Prime Location: A short drive to Lambert International Airport and close to major employers, including Boeing and Amazon.
- The buildings each have at least one unit being left vacant to show, or for a potential owner occupant.
- The units are rented for under market rent, as the units in some cases were rented during winter. Average market rent for 30 two bedroom apartments is $1,050 within a 5 mile radius.
Property Description
Four-family building located on a quiet cul-de-sac in Florissant, Missouri. This property is part of a larger 44-unit apartment complex consisting of seven buildings within the same cul-de-sac, offering investors the opportunity to acquire multiple buildings within one cohesive community. The four family buildings can be purchased separately or together, and the 32 additional units can also be purchased with the four families if desired. The complex has undergone extensive renovations between 2023 and 2026, with more than $2.2 million in capital improvements completed throughout the property. Upgrades include improvements to electrical systems, common areas, windows, water heaters, furnaces, and condensers. This building features 2 bedroom units with 3,536 square feet and features a pitched roof, central heating and cooling, and spacious common areas. Units offer washer and dryer hookups, with additional potential to add shared laundry facilities. All four units within the building feature similar updates, providing consistency in layout and finishes across the property. Current rents are below market, presenting an opportunity for future rent growth. Market data indicates average rents of approximately $1,050 for two-bedroom units within a five-mile radius. At least one unit per building may be available for showings or potential owner-occupancy. Conveniently located near Lambert International Airport and major employers such as Boeing and Amazon, the property benefits from strong employment drivers in the surrounding area. The buildings are located within a designated flood zone. The City of Florissant has acquired adjacent land for a planned future park development, which will further enhance the surrounding area.
Broker Details
Invest In St. Louis 314-325-6201
MLS ID: JSCHOEN State License Number: 2009024331
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | 2-4 Units |
| Price: | $375,000 |
| No. of Units: | 4 |
| Year Built: | 1963 |
| Lot Size: | 0.20 Acres |
| Opportunity Zone: | No |
| Price per unit: | $93,750 |
| Property Website | Click Here |
Investment Analyzer
Sponsored by:
Step 1Financing Calculation
Step 2Gross Rent Analysis
Please enter annual amounts.
Step 3Final Deal Analysis
Similar Properties in the Area
2507 Jill Circle, Unit 0
Springdale, Arkansas
Brokers
View All-
Remax Professionals
Re/Max Real Estate Professionals | New York
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Eamonn McConnell
Avison Young - CA - ON - Greater Toronto
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout