Property details
Missouri Two Asset Multifamily Portfolio, Great Lakes - Big Rivers Region
Property Description
Missouri Two Asset Multifamily Portfolio
Confidential, off-market.
2 Multifamily properties that the owners would like to liquidate so they may move forward with other projects.
~370 Total Units in This Portfolio
Locations and Class Grade: Both are located in tertiary markets, however, both are by far considered the top Class A properties for their respective areas and the occupancies support this.
These properties are approx. 25 miles away from each other.
Both are newer construction (built within 5 years or newer).
Both are gated communities.
Exceptional amenities, designs and finishes.
The owners are starting the process of raising the rents $100/unit so please take this in consideration while looking at the financial synopsis.
Convenient access to top area employers, education, and healthcare. With an ideal combination of student and conventional renters, these best-in-class assets also provide ample opportunity to achieve significant scale and optimized operational efficiencies.
INVESTMENT HIGHLIGHTS:
New Construction 2-Asset Portfolio
Extremely High-Occupancy Assets (Nearly 100% Occupied and Currently Ideally Situated)
Premier Properties in Low-Vacancy Submarkets
Operationally Efficient Opportunity for Immediate Scale
Offered Free and Clear of Existing Debt
Multifamily #1:
180 Units
95.6% Occupied
Liberty Park 2022 NOI Actual prior to depreciation (add back depreciation of $459,755): $1,506,728
Tenants are primarily military personnel since close to a huge number of military across all branches (Army, Navy, Marines, etc.).
Located in on of the largest state of cities in the state of Missouri
June 1st, 2023 will see a housing increase that has yet to be announced.
Multifamily #2:
190 Units
100% Occupied.
2022 NOI Actual prior to depreciation (add back depreciation of $640,160): $1,906,912
Great Mix of Student and Conventional Renters
Students from these Asian countries have chosen this accredited school for their degree.
A favorite place to live for students of a top Engineering school in the country with students from all 50 states and from 60+ countries. Students from these Asian countries have chosen this school for their engineering degree.
Total ~370 Units
Total 2022 Actual Adjusted NOI: $3,413,640
Price: $70 million (owner is open to offers from qualified prospective buyers).
Combined Cap Rate: 4.88%
Images
Highlights
- Status:
- Available
- Price:
- $70,000,000
- Cap Rate:
- 4.88%
- Annual Rent:
- $3,413,640
Property Information
- Property Type:
- Apartments
- Industry Type:
- Apartment - Multifamily
- Units/Spaces:
- 370
- Purchase Tenure:
- Fee Simple
Existing financing information
- N/A
The information contained herein contains confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient will be prohibited. The information contained herein has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about the accuracy or completeness of the information. As a buyer, it is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this property to you depends on factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. We have no knowledge of this offering other than the information received from Seller or their representatives. We are neither your agent or an agent for the seller. We will not participate in the negotiation of the purchase price or attend the showing of this property. As a buyer, you will be required to indemnify us and hold us harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this property.