3717 Westminster Place
Property Description
3717 Westminster Place presents an opportunity to acquire a 17unit multifamily property offering strong in-place cash flow with additional upside in one of St. Louis' most active urban corridors. The property is being offered at a 7.16% in-place cap rate with an 8.36% proforma cap rate, providing investors attractive current returns with the opportunity to further grow NOI. The property was fully redeveloped in 2008 and then underwent further updates in 2022/2023. Ideally positioned just minutes from Saint Louis University and City Foundry STL, the property benefits from proximity to some of the city's largest education, employment, medical, dining, and entertainment destinations. Nearby anchors include Cortex Innovation Community, Washington University Medical Campus, Barnes-Jewish Hospital, and the Armory. With 17 units, strong in-place returns, additional rental upside, and a location near SLU and City Foundry, 3717 Westminster Place offers investors an opportunity to acquire meaningful scale in a well-established St. Louis rental corridor.
Broker Details
Salient Realty Group, LLC (314) 374-3687
MLS ID: TMCCARTH State License Number: 2019034093
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $1,895,000 |
| No. of Units: | 17 |
| Year Built: | 1896 |
| Lot Size: | 10,870.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $111,471 |
| Property Website | Click Here |
| Number of Bedrooms: | 4 |
| Number of Bathrooms: | 5 |
ID: 3yd-MARISMO-26066527
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