- Triad Of Townhome Assets w/ Full Basements | 1982-2020 Vintages
- Huge Opportunity To Capture $500+ Upside Per Unit Across Entire Portfolio
- 100% Two-Story Townhome Units – Average Unit Size Over 1,300 SF
- Exceptionally Well-Maintained By Longstanding Owner-Operator
- $574,500+ In Recently Completed Capital Improvements
- Located In Rapidly Growing, Affluent St. Charles County
- Assets Located In Extremely Strong School Districts
- Offered Free And Clear Of Existing Debt
Meticulously Maintained | $574,500+ in Recent Capital Improvements
Current ownership has employed a long-term conservative strategy in lieu of maximizing Net Operating Income, as illustrated by the below-market rents, and achieved 100% occupancy while remaining consistently waitlisted at each of the respective assets.
Huge Opportunity to Capture $500+ Upside Per Unit Across Entire Portfolio
These assets are incredibly well-positioned for new ownership to add substantial value through operational improvements such as substantial rent increases and other income charges, as well as strategic capital investments focused on further driving rental rate premiums to market level.
With vintages ranging from 1982-2020, the townhome units contained within the assets feature full basements, which provide incredible appeal for growing families in a supply-constrained submarket.
Directly next door to Park Charles Townhomes an identical asset has proven $500 in upside with moderate finish upgrades as can be seen in this link here: https://www.apartments.com/103-park-charles-blvd-s-saint-peters-mo/fpmjwdt/ . There is clear upside in simply matching the finish level and rents, but immediate comparable properties also support the business plan of surpassing this finish level and further pushing rents to market.
100% Two-Story Townhome Units – Average Unit Size Over 1300 Square Feet
The asset offers 102, two-story townhomes with full basements – boasting an average size of 1,303 SF. With townhome units remaining in extremely high demand throughout the St. Louis MSA (as can be seen in 100% occupancy), the entire portfolio is well-positioned to capture tenants that want to be close to their workplaces and to have some of the largest units in St. Charles County!