- Situated in Highly Attractive and Affluent Creve Coeur Submarket
- Significant Upside Opportunity of $334+ Per Unit (Monthly)
- Well-Positioned Asset Primed for Value-Add Implementation
- Offered at a Very Attractive Basis
- High-Growth Area with Great Connectivity to Demand Drivers
- Surrounding Properties Generating Top of Market Rents
- Offered with Attractive Assumable Interest-Only Financing OR Free-and-Clear
Situated in Highly Attractive and Affluent Creve Coeur Submarket
The vacancy rate in the Creve Coeur submarket is 5% and is below the long-term average. With no units delivered in 2023, low vacancy rates are forecasted. Rents have increased by an impressive 6.8% over the past year. The Creve Coeur submarket continues to be a very attractive market with strong apartment fundamentals and economic indicators, including the benefits of Bayer Crop Science HQ, The 39 North AgTech District, and many other significant employers and medical facilities. In addition, the Creve Coeur submarket boasts a Median Household Income over $115,414 (compared to the STL Metro average of $70,324) which is projected to grow to $133,813 by 2028. The median home price in Creve Coeur is an impressive $360,000, significantly higher than the STL Metro average of $231,100.
Significant Upside Opportunity of $334+ Per Unit (Monthly)
Constructed in 1965, Beau Jardin offers dated interior finishes, which gives new ownership the opportunity to achieve significant rent upside of $334+ per unit (monthly), with completion of interior upgrades and modernizations coupled with further continuity and improvement of the stabilized operations already in place. Cosmetic updates to the bathrooms, kitchen upgrades, new vinyl flooring, and an upgraded lighting package throughout will enable the new buyer to push annual rental income by more than $729,000!
Well-Positioned Asset Primed for Value-Add Implementations
Located in the extremely desirable Creve Coeur submarket, Beau Jardin is surrounded by new construction multifamily communities and top-tier retail and entertainment. Built in 1965, the property has maintained dated unit interiors and a robust amenity package that is primed for value-add upgrades with a highly sought-after foundation ready for modernization.
