- REO Opportunity – Being Sold by Lender
- Significant Operational Upside with Proven Value-Add Potential
- Immediate Opportunity to Boost Revenue Through Utility Billback Program
- Located in the Fastest Growing County in Missouri
- Central Location with Easy Access to St. Charles County & the Entire STL MSA
- Offered Free & Clear of Existing Debt
REO Opportunity – Being Sold by Lender
The Tide Apartments offers a new investor the unique opportunity to acquire the asset directly from the lender, who has taken possession of the property within the last 6 months. The lender has physically stabilized the asset, implemented professional property management, and ideally positioned the property for a value-add investor to quickly and efficiently execute on their business plan.
Significant Operational Upside with Proven Value-Add Potential
The Tide offers both organic operational upside and a proven value-add play, allowing a new investor to create significant yield through the execution of this business plan. Since taking possession, the lender has addressed much of the deferred maintenance and evicted a number of non-paying tenants that were put in under previous ownership. While leasing activity has been extremely strong, the focus has been on addressing the immediate physical needs of the property and not getting back to stable occupancy – providing new ownership the opportunity to begin a significant number of unit renovations on day 1.
Immediate Opportunity to Boost Revenue Through Utility Billback Program
A new investor can immediately improve revenues through the implementation of a market-standard Utility Billback Program for Water, Sewer, and Trash. By charging flat fees of $35/mo (for 1BR units), $50/mo (for 2BR units), and $65/mo (for 3BR units), ownership can realize over $80,000 of additional annual revenue.
