The Diplomat Apartments 3530 Miami St
60 Unit Apartment Building For Sale Saint Louis, MO 63118
Investment Highlights
- Incredible value add opportunity
- 60 units | 20 studios and 40, 1 bed/1 bath
- Incredibly low price per unit basis
- Significant rent upside
- Owner is willing to be creative - Reach out to Broker for more information
- High vacancy offers immediate value add implementation
Executive Summary
Salient Realty Group is pleased to present this opportunity to purchase The Diplomat Apartments located in St. Louis City and more specifically Gravois Park.
The property consists of 60 units comprised of 20 studios, and 40, 1 bed/1 bath units. Pricing on this asset offers buyers an incredibly low basis on a price per unit. Please contact us for pricing guidance. The property has incredible value add opportunity through lease up and cosmetic updates in the apartments which will translate into significant rent increases. Currently, the property has high vacancy which offers investors the ability to implement a value add plan immediately.
All financials are available upon request - Reach out to Broker for more information
The property consists of 60 units comprised of 20 studios, and 40, 1 bed/1 bath units. Pricing on this asset offers buyers an incredibly low basis on a price per unit. Please contact us for pricing guidance. The property has incredible value add opportunity through lease up and cosmetic updates in the apartments which will translate into significant rent increases. Currently, the property has high vacancy which offers investors the ability to implement a value add plan immediately.
All financials are available upon request - Reach out to Broker for more information
Property Facts
Sale Type | Investment |
Sale Conditions | High Vacancy Property |
No. Units | 60 |
Property Type | Multifamily |
Property Subtype | Apartment |
Apartment Style | Mid Rise |
Building Class | C |
Lot Size | 0.49 AC |
Building Size | 31,668 SF |
Average Occupancy | 62% |
No. Stories | 5 |
Year Built | 1965 |
Parking Ratio | 0.68/1,000 SF |
Unit Amenities
- Air Conditioning
- Disposal
- Heating
- Ceiling Fans
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Range
- Carpet
Site Amenities
- Controlled Access
- Laundry Facilities
- Property Manager on Site
- Security System
- Gated
- Online Services
Unit Mix Information
Description | No. Units | Avg. Rent/Mo | SF |
---|---|---|---|
Studios | 20 | - | 350 |
1+1 | 40 | - | 750 |
1 of 1
Walk Score®
Very Walkable (89)
PROPERTY TAXES
Parcel Number | 1606-00-0080-0 | Improvements Assessment | $170,490 |
Land Assessment | $20,060 | Total Assessment | $190,550 |
zoning
Zoning Code | H (Area Commercial District) |