9420 Mary Glen Drive
Property Description
PRIME REPOSITIONING OPPORTUNITY IN AN ESTABLISHED CRESTWOOD SUBMARKET Forest View Apartments offers investors the opportunity to acquire a well-located multifamily asset in predominantly classic condition with a clear and executable value-add repositioning story. The dated interior finishes and a modest amenity package create a straightforward path to driving rents and improving overall cash flow through the addressing of existing known capex needs (please contact Newmark for details), unit renovations and amenity expansion and modernization. The $190+ rent premiums have been fully proven on-site by current ownership, providing new ownership a set path to outsized stabilized yield. HIGHLY DESIRABLE SOUTH COUNTY LOCATION WITH LIMITED SUPPLY Forest View is located in Crestwood, one of South St. Louis County’s most established and supply-constrained submarkets. The property offers residents immediate access to Highway 44, major employment centers throughout South County and West County, and a wide range of retail, dining, and daily necessities along Watson Road and nearby corridors. Crestwood’s strong school district reputation, stable demographics, and limited new multifamily supply continue to support durable renter demand. FUNCTIONAL UNIT MIX WITH STRONG RENTER APPEAL Forest View offers a balanced mix of one- and two-bedroom floorplans that appeal to a broad tenant base, including young professionals, couples, and long-term renters looking for value in a strong school district. Unit layouts are efficient and well sized, providing an excellent foundation for interior upgrades that can drive meaningful rent growth. SURROUNDED BY STRONG RESIDENTIAL, RETAIL, AND NEW DEVELOPMENT MOMENTUM Forest View is surrounded by established single-family neighborhoods and benefits from immediate access to major thoroughfares connecting residents to employment hubs throughout the St. Louis metro. A 276-unit Class A multifamily community is planned directly adjacent to the property, introducing new top-of-market product that is expected to push rent ceilings at nearby locations inferior to Forest View. Additionally, the newly developed Crestwood Crossing shopping center across the street further enhances convenience and daily retail access, supporting continued rent growth and long-term apartment fundamentals.
Key Property Information
| Listing Status: | Unavailable |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| No. of Units: | 204 |
| Year Built: | 1963 |
| Lot Size: | 10.25 Acres |
| Opportunity Zone: | No |
| Property Website | Click Here |
Investment Analyzer
Sponsored by:
Step 1Financing Calculation
Step 2Gross Rent Analysis
Please enter annual amounts.
Step 3Cap Rate Calculation
Step 4Final Deal Analysis
Similar Properties in the Area
Brokers
View All-
Remax Real Estate Professionals
Re/Max Real Estate Professionals
-
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