3725 Morgan Ford Road

• Up to $200 Rent Increases with Cosmetic Updates
• Newer TPO Roofs, Newer HVAC, Copper Plumbing Stacks
• 24, 1 Bed Units | 16, 2 Bed Units
• Ample Parking
• Billboard Paying $2,000 Annually
• Assumable Debt Available!

Property Description

Salient Realty Group is pleased to present this 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. Reach out to the brokers for more information on this opportunity.