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ReNew Cross Creek 1269 Mangrove Ln 72 Unit Apartment Building For Sale Saint Louis, MO 63125
INVESTMENT HIGHLIGHTS
- Established 72-unit garden-style property located in the South County submarket of St. Louis
- Potential development opportunity on ReNew Cross Creek #3, a vacant 3.45 acre parcel
- Ideal mix of one and two-bedroom floor plans averaging 962 SF
- Opportunity to push rents through unit upgrades during new ownership period
- Well-maintained asset with $1.46M of capital expenditures since 2020
- High barrier to entry market
EXECUTIVE SUMMARY
CBRE is pleased to present an exceptional investment opportunity – ReNew Cross Creek (“Property”), a remarkable multifamily property consisting of 72 units plus an additional 3.45 acres for potential development, ideally situated in Mehlville, Missouri.
The Property serves as a testament to comfort and style, providing residents with an unparalleled living experience. Each unit is thoughtfully designed, featuring a range of modern amenities such as wood-burning fireplaces, luxurious carpets, and smart home upgrades. The spacious floor plans include one or two bedrooms, allowing for flexible living arrangements to suit various needs.
ReNew Cross Creek Apartments enjoys a prime location with convenient access to major transportation routes. Situated near Highway 55 and Highway 270, residents benefit from easy connectivity to St. Louis County and surrounding metro areas. This strategic positioning allows for seamless commuting and provides residents with the opportunity to explore all the attractions and amenities the region has to offer.
ReNew Cross Creek is offered with attractive assumable debt of 4.75% or on a free-and-clear basis. A call for offers date will be announced during marketing.
The Property serves as a testament to comfort and style, providing residents with an unparalleled living experience. Each unit is thoughtfully designed, featuring a range of modern amenities such as wood-burning fireplaces, luxurious carpets, and smart home upgrades. The spacious floor plans include one or two bedrooms, allowing for flexible living arrangements to suit various needs.
ReNew Cross Creek Apartments enjoys a prime location with convenient access to major transportation routes. Situated near Highway 55 and Highway 270, residents benefit from easy connectivity to St. Louis County and surrounding metro areas. This strategic positioning allows for seamless commuting and provides residents with the opportunity to explore all the attractions and amenities the region has to offer.
ReNew Cross Creek is offered with attractive assumable debt of 4.75% or on a free-and-clear basis. A call for offers date will be announced during marketing.
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PROPERTY FACTS
| Sale Type | Investment | Lot Size | 6.58 AC |
| No. Units | 72 | Building Size | 77,710 SF |
| Property Type | Multifamily | Average Occupancy | 94% |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Garden | Year Built | 1987 |
| Building Class | B | Parking Ratio | 1.56/1,000 SF |
| Zoning | R6 | ||
| Sale Type | Investment |
| No. Units | 72 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 6.58 AC |
| Building Size | 77,710 SF |
| Average Occupancy | 94% |
| No. Stories | 3 |
| Year Built | 1987 |
| Parking Ratio | 1.56/1,000 SF |
| Zoning | R6 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Fireplace
- Washer/Dryer
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 36 | - | 858 |
| 2+2 | 36 | - | 1,066 |
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PROPERTY TAXES
| Parcel Number | 28H-42-0853 | Improvements Assessment | $0 |
| Land Assessment | $21,410 | Total Assessment | $21,410 |
PROPERTY TAXES
Parcel Number
28H-42-0853
Land Assessment
$21,410
Improvements Assessment
$0
Total Assessment
$21,410
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ReNew Cross Creek | 1269 Mangrove Ln
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