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Gulf Drive Townhomes 8511 Gulf Dr 44 Unit Apartment Building For Sale Saint Louis, MO 63130
Investment Highlights
- All units are single level and have private basements, some with walkout
- Complex has a park-like feel spread out over 4 acres
- High efficiency HVAC systems and newer roofs
Executive Summary
Offered for sale is this 44 Unit apartment complex located in the heart of the St.? Louis MO MSA near Page and I-170.? The offering consists of 44 units spread across 11 buildings, on a park like setting of 4.28 acres.? The complex is currently 96% occupied providing immediate and stable in place cash flow.? All leases are structured on 12 month basis.? The property generated $721,000 on T12 in total operating income, with additional upside through lease-up and scheduled rent increases for 2026 / 2027.?
?Assumable Fannie Mae Small Loan for qualified investor
- Non Recourse Loan
- 6.17% on 7 yr term, Interest only for 3 years - Incepted January 2025
- 71% Leverage day 1
?Immediate upside with in process rent increases on renewals and lease up
?Major renovation completed in 2023
?7.5% cap rate on pro forma
?Major renovation in 2023 to include - 100% of roofs replace - All HVAC updated with High Efficiency systems and thermostats - Landscaping and drainage improvements - Kitchen updates: appliances, refaced cabinetry, flooring - Bathroom updates: refaced cabinetry, hardware and surrounds - 30% of units renovated with "Premium Finishes" including granite counters and new vanities
?Assumable Fannie Mae Small Loan for qualified investor
- Non Recourse Loan
- 6.17% on 7 yr term, Interest only for 3 years - Incepted January 2025
- 71% Leverage day 1
?Immediate upside with in process rent increases on renewals and lease up
?Major renovation completed in 2023
?7.5% cap rate on pro forma
?Major renovation in 2023 to include - 100% of roofs replace - All HVAC updated with High Efficiency systems and thermostats - Landscaping and drainage improvements - Kitchen updates: appliances, refaced cabinetry, flooring - Bathroom updates: refaced cabinetry, hardware and surrounds - 30% of units renovated with "Premium Finishes" including granite counters and new vanities
Property Facts
| Sale Type | Investment | Building Class | C |
| No. Units | 44 | Lot Size | 3.98 AC |
| Property Type | Multifamily | Building Size | 46,350 SF |
| Property Subtype | Apartment | No. Stories | 1 |
| Apartment Style | Garden | Year Built/Renovated | 1965/2024 |
| Zoning | A | ||
| Sale Type | Investment |
| No. Units | 44 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 3.98 AC |
| Building Size | 46,350 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1965/2024 |
| Zoning | A |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Washer/Dryer Hookup
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Basement
- Patio
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Smoke Free
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 12 | $1,285 | 785 |
| 2+1 | 32 | $1,488 | 850 - 900 |
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Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 16K-61-0657 | Improvements Assessment | $71,160 |
| Land Assessment | $7,600 | Total Assessment | $78,760 |
Property Taxes
Parcel Number
16K-61-0657
Land Assessment
$7,600
Improvements Assessment
$71,160
Total Assessment
$78,760
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Gulf Drive Townhomes | 8511 Gulf Dr