REO SALE Timber Ridge Apartments

Saint Louis , Missouri

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Building

Stats

  • Property Type Multifamily - High-Rise
  • Year built 1963
  • Building size (SF) 131,290
  • Size (AC) 6.07
  • Price $4,950,000

Overview

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

Highlights

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 11.91%
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

Location Map

Team

David Maling

Principal
Avison Young - US - CA - Los Angeles
12134531770

Chris Maling

Principal
Avison Young - US - CA - Los Angeles
12133647222