11542 Concord Village Avenue St Louis, MO 63128
PRICED AT $5,900,000
Listing Details
- $5,900,000
- MLS# 25068193
- Type Multi Unit - Multiple
- Status Active
- 36,537 Square Feet
- 2.092 acres Lot Size
- 1966 Year Built
- Lindbergh Schools Local Schools
Description
Concord Place is a 50-unit property that is positioned for immediate rent growth with below-market rents and strong local demographics, allowing new ownership to implement a value-add strategy and push rents through targeted renovations. Built in 1966, Renovated in 2017-2018 (new roofs in 2022) 5 Buildings, 50 total units across 2.09 acres Mix of 1- and 2- bedroom units (60% two-bedrooms) Avg. in-place rent: $960/ unit (below market rents of $1,094 for 1BR and $1,355 for 2BR) 96% occupancy with strong in-place cash flow Recent capex expenditures over 500,000, including new roofs, interior upgrades, and exterior improvements Value-add...read more
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