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2690-2690 Tyrell Dr
Jennings, MO 63136
Sunnyland Apartments · Multifamily Property For Sale
·
60 Units
Investment Highlights
- Value-add opportunities through upgrades and/or increasing in-place rents to market rate
- Strong workforce housing demand in North St. Louis County supporting stable occupancy and cash flow
- Offered below replacement cost, providing an attractive basis and long-term appreciation potential
- Prime location close to retail, schools, and major employment hubs
- Proximity to UMSL, Express Scripts, and $1.8 Billion dollar Boeing defense campus expansion redevelopment
- Delivered free and clear of existing debt, allowing flexibility in financing structure
Executive Summary
CBRE is pleased to offer for sale Sunnyland Apartments (the “Property”), a 60-unit apartment community located in St. Louis, Missouri. Built in 1962-1966, the Property offers an investor the rare opportunity to acquire a stabilized asset with proven operating performance and tremendous upside potential. Most of the units are in classic or near classic condition, allowing new ownership the opportunity to push rents through further continued unit upgrades or increasing in-place rents to market rate.
Sunnyland Apartments features 1- and 2-bedroom apartments (Group A) and 3-bedroom townhomes (Group B) with a variety of floor plans.
Only 2.5 miles from I-70, 8 miles from Lambert-St. Louis International Airport and 10 miles from downtown St. Louis, this property is in a prime location with easy access to the city’s cultural and recreational attractions, making it an ideal investment opportunity in the St. Louis MSA.
Sunnyland Apartments features 1- and 2-bedroom apartments (Group A) and 3-bedroom townhomes (Group B) with a variety of floor plans.
Only 2.5 miles from I-70, 8 miles from Lambert-St. Louis International Airport and 10 miles from downtown St. Louis, this property is in a prime location with easy access to the city’s cultural and recreational attractions, making it an ideal investment opportunity in the St. Louis MSA.
Property Facts
| Price Per Unit | $68,333 | Lot Size | 3.20 AC |
| Sale Type | Investment | Building Size | 50,800 SF |
| No. Units | 60 | Average Occupancy | 97% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1963 |
| Apartment Style | Garden | Opportunity Zone |
Yes
|
| Building Class | C | ||
| Zoning | 31R-3 | ||
| Price Per Unit | $68,333 |
| Sale Type | Investment |
| No. Units | 60 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 3.20 AC |
| Building Size | 50,800 SF |
| Average Occupancy | 97% |
| No. Stories | 2 |
| Year Built | 1963 |
| Opportunity Zone |
Yes |
| Zoning | 31R-3 |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Ceiling Fans
- Eat-in Kitchen
- Refrigerator
- Range
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+1.5 | 20 | - | 1,100 |
| 2+1 | 24 | - | 800 |
| 1+1 | 16 | - | 700 |
Property Taxes
| Parcel Numbers | Improvements Assessment | $374,550 | |
| Land Assessment | $114,000 | Total Assessment | $488,550 |
Property Taxes
Parcel Numbers
Land Assessment
$114,000
Improvements Assessment
$374,550
Total Assessment
$488,550
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