- PROVEN $100+ RENT UPSIDE AT CURRENT FINISH LEVEL, WITH $200+ AFTER INTERIOR IMPROVEMENTS
- IDEAL BLEND OF UNIT LAYOUTS
- ASSUMABLE DEBT WITH INTEREST-ONLY PAYMENTS UNTIL 2024
- WELL-POSITIONED IN SUBMARKET NEAR MAJOR ECONOMIC DRIVERS
Proven $100+ Rent Upside at Current Finish Level, with $200+ After Interior Improvements
Colonial Apartments has been meticulously well maintained allowing the new owner to focus on increasing revenue through unit interior improvements. Rents in the nearby submarket prove the path forward and the current owner is already achieving rent increase without interior improvements.
Ideal Blend of Unit Layouts
Colonial Apartments enjoys a balanced mix of 1BR’s and 2BR’s allowing investors to capture the demand for single-tenant layouts while additionally providing layouts that achieve higher rents and lead to less turnover.
Assumable Debt with Interest Only Payments Until 2024
Recently secured debt with a low-interest rate of 3.53% fixed for 10 years with I/O until 2024, enables the new owner to turn units and improve rents with reduced carry cost.
Well Positioned in Submarket Near Major Economic Drivers
Colonial Apartments is located within 5 Miles from major employers such as the Lambert International Airport, Boeing, University of Missouri – St. Louis, and St Louis Community College.
