13108 Butler Oak Drive Butler Hill Apartments
Description
Butler Hill Apartments presents an exceptional investment opportunity in South Saint Louis County.
Nestled off Hwy 21 (Tesson Ferry), the property enjoys a serene setting surrounded by green space and mature trees, creating a park-like atmosphere. The 72-unit complex features updated apartments, with approximately one-third fully renovated and the remaining two-thirds partially upgraded with new ceramic flooring, built-in microwaves, windows, toilets, and vanities.
This classically designed complex, boasting 100% occupancy, is a testament to its professional management and attractive amenities, including a private swimming pool.
With current average rents at $1.24 per square foot (well below market rates), Butler Hill Apartments offers a compelling value-add opportunity to increase cash flow from $86,696 to a projected $180,589. This can be accomplished by increasing rents to the market average of $1.50 per square foot.
Address
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Address 3108 Butler Oak Drive
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Country United States
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Province/State Missouri
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Postal code/ZIP 63128
Overview
- Property ID 9607
- Price $7,100,000
- Property Type Multi-Family
- Property status Escrow, Featured Listing
- Year Built 1987
- Units 72
Contact
Nicholas F. Smyrniotis
Property Agent