Greenwood Apartments | 3704 Greenwood Blvd
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Greenwood Apartments 3704 Greenwood Blvd
24 Unit Apartment Building $1,995,000 ($83,125/Unit) 6.28% Cap Rate Maplewood, MO 63143
Investment Highlights
- Great investment opportunity in the highly desirable Maplewood submarket
- 15/24 units have been updated
- Currently 96% occupied
- 24 units - 1 bd/1 bth units
- Multiple value add opportunities - Potential to add washer/dryer in unit
- Average rental upside of $193/unit
Executive Summary
Salient Realty Group is pleased to exclusively offer the opportunity to purchase The Greenwood Apartments in Maplewood, MO to qualified investors. The property is 14,400 SF consisting of 24, 1 bed/1 bath units. The deal has great upside potential by bringing rents to market and making cosmetic updates. In place rents are well below market with an average upside of $193. 15/24 units have been updated with new flooring, kitchens. There is potential to finish renovating the remaining units and to also incorporate in-unit laundry, which would add even higher rent potential.
Please reach out to the brokers for more information.
Please reach out to the brokers for more information.
Financial Summary (Pro forma - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,995,000 | Building Class | C |
| Price Per Unit | $83,125 | Lot Size | 0.39 AC |
| Sale Type | Investment | Building Size | 14,400 SF |
| Cap Rate | 6.28% | Average Occupancy | 96% |
| No. Units | 24 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1971 |
| Property Subtype | Apartment | Parking Ratio | 1.81/1,000 SF |
| Apartment Style | Low Rise |
| Price | $1,995,000 |
| Price Per Unit | $83,125 |
| Sale Type | Investment |
| Cap Rate | 6.28% |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.39 AC |
| Building Size | 14,400 SF |
| Average Occupancy | 96% |
| No. Stories | 3 |
| Year Built | 1971 |
| Parking Ratio | 1.81/1,000 SF |
Unit Amenities
- Disposal
- Refrigerator
- Carpet
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 24 | - | 600 |
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PROPERTY TAXES
| Parcel Number | 22J-53-1233 | Total Assessment | $202,200 (2023) |
| Land Assessment | $114,000 (2023) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $88,200 (2023) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
22J-53-1233
Land Assessment
$114,000 (2023)
Improvements Assessment
$88,200 (2023)
Total Assessment
$202,200 (2023)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
zoning
| Zoning Code | N/Av, Maplewood |
| N/Av, Maplewood |
-
Tim McCarthy -
Garen Lafser -
James Anderson -
Salient Realty Group LLC
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Greenwood Apartments | 3704 Greenwood Blvd
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