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7298 N Hanley Rd - Morningside Apartments 35 Unit Apartment Building Offered at $2,975,000 at a 8.03% Cap Rate Hazelwood, MO 63042
Investment Highlights
- 32 Townhomes + 3 Apartments
- Value Add Opportunities
- 100% Occupancy
- All Townhomes 2 Bed 1.5 Bath Layouts
- In-Unit Washer and Dryer
Executive Summary
This substantial multi-building asset represents a premier opportunity to acquire a stabilized community with a consistent track record of operational success. Spanning nearly 10 acres, the property features a high-density mix of garden-style units and expansive multi-level floor plans, all anchored by durable brick construction. The current configuration is designed for efficiency and longevity, offering a robust foundation for an owner looking to secure a large-scale footprint in a high-demand corridor.
The true value of this property lies in its immense upside and value-add potential. With units in a well-maintained, classic condition, new ownership has a clear path to rent growth through targeted interior upgrades and modernized finishes. Each unit is already equipped with high-value features like full private basements, dedicated utility spaces, and private outdoor areas—amenities that provide a competitive edge in the local market. This is a turnkey acquisition positioned for immediate optimization and long-term equity appreciation.
The true value of this property lies in its immense upside and value-add potential. With units in a well-maintained, classic condition, new ownership has a clear path to rent growth through targeted interior upgrades and modernized finishes. Each unit is already equipped with high-value features like full private basements, dedicated utility spaces, and private outdoor areas—amenities that provide a competitive edge in the local market. This is a turnkey acquisition positioned for immediate optimization and long-term equity appreciation.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Washer/Dryer
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Basement
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1.5 | 32 | - | 1,600 |
| 1+1 | 3 | - | 650 |
1 1
Property Taxes
| Parcel Number | 09K-32-4222 | Improvements Assessment | $7,450 |
| Land Assessment | $1,350 | Total Assessment | $8,800 |
Property Taxes
Parcel Number
09K-32-4222
Land Assessment
$1,350
Improvements Assessment
$7,450
Total Assessment
$8,800
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7298 N Hanley Rd - Morningside Apartments
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