REO SALE Timber Ridge Apartments

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Address: Garden Dr, St. Louis, MO, USA

Chicago & Midwest + Apartment Buildings

Created date: November 7, 2024

Date last updated: November 7, 2024

18 multi-family buildings with a cumulative ±131,290 SF of residential space, on ±6.07 AC of land
Property features 144 units, each of them is two (2) bed and one (1) bath
Low Price Per Foot at only $34,375 per unit, Proforma Cap Rate with 10% vacancy is 11.22%
Abundant parking
Property is located within one (1) mile of national credit tenants including Circle K, McDonald’s, Burger King, CVS, Dollar Tree and more
Close proximity to Interstate 270 and Highway 367

Property Description

Timber Ridge Apartments are located in the Spanish Lake neighborhood of Saint Louis, MO, at 1342 North Garden Drive. The multi-family complex has 144, two (2) bed, one (1) bath apartments that can suit a wide variety of necessities. In addition, the property features ample parking allowing easy access for all residents. Lender Foreclosure - potential investors should be aware the Lender acquired the property via a foreclosure. As a result, property is being sold in “As-Is” condition with no representations and warranties. During their short term of ownership, the Lender has started making units in rent-ready condition and leasing the units. This is an excellent opportunity for an investor to increase occupancy and take advantage of the housing demand for multi-family units in this marketplace

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Key Property Information

Listing Status:	Available
Listing Type:	Call for offers
Property Types:	Apartment Buildings
Price:	$4,950,000
No. of Units:	144
Year Built:	1963
Lot Size:	12,197.20 Sq ft
Opportunity Zone:	No
Price per unit:	$34,375
Property Website	Click Here