- Long-Standing Owner-Operator
- Extremely Clean, Well-Maintained Asset
- Demonstrated Value-Add Upside in the Submarket
- Basis Significantly Below Replacement Cost
- Offered Free and Clear of Existing Debt
Long-Standing in Place Owner-Operator
Current ownership has employed a long-term conservative strategy in lieu of maximizing Net Operating Income, as illustrated by the Property’s below market rents and high historical occupancy. As a result, the Property is ideally positioned for new ownership to add substantial value through a light value-add strategy that will result in the ability to move rents to market. In addition, there is a clear opportunity to streamline operations and bring expenses in-line with market. St. Louis County has seen approximately 10% rent increases YOY on as-is units, allowing new ownership to enjoy this market tailwind.
Clean, Well-Maintained Asset
Current Long-Term ownership has maintained the asset to the highest of standards, allowing the next owner to focus their capital expenditures on items that will immediately result in a corresponding revenue increase. Residents of Villa St. Cyr consistently note that the cleanliness of the property is what attracted them to the community in the first place. The asset is one of the best-kept secrets in the Village of Riverview, as can be seen in the high historical occupancy.
Demonstrated Value Add in the Submarket
Upgraded townhome units continue to achieve the highest rents in the sub-market. Located just 1.8 miles from Villa St. Cyr is Rivertrace Townhomes. Rivertrace Townhomes has successfully executed on value-add property and unit upgrades. This further demonstrates the rent upside at Villa St. Cyr.
By matching similar finish levels at similar-sized townhomes units, new ownership will see approximately $125 per unit per month in rent premium at Villa St. Cyr.