- Significant Recent Capex – Unit Upgrades, Common Areas, Systems, and More
- Fully Proven Cosmetic Value-Add Business Plan
- Strong Operations Provide Excellent In-Place Cash Flow
- Central Workforce Location – Proximate to Large Employment Centers
- Unmatched Access & Connectivity to Entire St. Louis MSA
- Highly Attractive Basis Well Below Replacement Cost
- Offered Free & Clear of Existing Debt
Significant Recent Capex – Unit Upgrades, Common Areas, Systems, and More
The community has seen major recent capex focusing on unit renovations, common area modernization, systems upgrades, and much more. This recent investment by current ownership will allow a new investor to step into a fully stabilized asset and focus solely on capturing additional revenue upside through the completion of the current business plan.
Fully Proven Cosmetic Value-Add Business Plan
Current ownership has proven the substantial return on investment that can be achieved through unit and amenity modernizations. Northbrook offers classic interior finishes across ~25% of units, providing new ownership the opportunity to achieve significant rent premiums by completing additional renovations and moving rents to current market. Light interior cosmetic upgrades (LVP flooring, paint, new appliances, upgraded fixtures) have been completed on ~75% of units, with additional remaining upside available on these units with very moderate additional modernization.
Strong Operations Provide Excellent In-Place Cash Flow
Northbrook Apartments offers stabilized occupancy in the mid-90% range and strong in-place operations, allowing a new investor to generate significant going-in cash yield. As new ownership continues to complete the proven value-add business plan, they will see outsized returns as rental income continues to grow as rents are moved to current renovated market levels.
