11542 Concord Village AVE new Save Request In-Person Tour Request Virtual Tour
St Louis,MO 63128
Key Details
Property Type Multi-Family
Sub Type 5 Family or More
Listing Status Active
Purchase Type For Sale
Square Footage 36,537 sqft
Price per Sqft $177
Subdivision Concord Place Condo
MLS Listing ID 25068193
Style Apartment Style
Year Built 1966
Lot Size 2.092 Acres
Property Sub-Type 5 Family or More
Property Description
Concord Place is a 50-unit property that is positioned for immediate rent growth with below-market rents and strong local demographics, allowing new ownership to implement a value-add strategy and push rents through targeted renovations.
• Built in 1966, Renovated in 2017-2018 (new roofs in 2022)
• 5 Buildings, 50 total units across 2.09 acres
• Mix of 1- and 2- bedroom units (60% two-bedrooms)
• Avg. in-place rent: $960/ unit (below market rents of $1,094 for 1BR and $1,355 for 2BR)
• 96% occupancy with strong in-place cash flow
• Recent capex expenditures over 500,000, including new roofs, interior upgrades, and exterior improvements
• Value-add potential through interior updates and adding washers/ dryers in units (currently only 2 units equipped)
• Prime location near Lindbergh Blvd, Tesson Ferry Rd, and I-270 with nearby developments like Tesson Ridge and new retail (including Chick-fil-a)
• Asking price is $6,500,000 ($130,000 per unit)
Location
State MO
County St. Louis
Area 316 - Lindbergh
Interior
Heating Electric
Cooling Central Air
Exterior
Exterior Feature Courtyard
Parking Features false
View Y/N No
Building
Story 2
Water Public
Structure Type Brick
Schools
Elementary Schools Long Elem.
Middle Schools Robert H. Sperreng Middle
High Schools Lindbergh Sr. High
School District Lindbergh Schools
Others
Acceptable Financing Cash,Conventional
Listing Terms Cash,Conventional
Special Listing Condition Standard