St Louis, MO 63116,3725 Morganford RD
St Louis, MO 63116,3725 Morganford RD
St Louis, MO 63116,3725 Morganford RD
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$3,595,000
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30,234 SqFt
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3725 Morganford RD St Louis, MO 63116

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Key Details

Property Type Multi-Family

Sub Type 5 Family or More

Listing Status Active

Purchase Type For Sale

Square Footage 30,234 sqft

Price per Sqft $118

Subdivision Becks Tholozan Add

MLS Listing ID 25080611

Style Apartment Style

Year Built 1965

Annual Tax Amount $19,313

Lot Size 1.018 Acres

Acres 1.0183

Property Sub-Type 5 Family or More

Property Description

Salient Realty Group is pleased to present this opportunity to acquire the Morganford Plaza Apartments, a 40-unit apartment community at 3725-41 Morganford Road, in St. Louis, Missouri. The property offers a strong value add opportunity with below market rents and a proven concept of conducting cosmetic unit updates to raise rents. It's rare to find a complex of this size and quality priced under $90,000 per unit.

The property offers an attractive unit mix with 24, 1 bedroom units and 16, 2 bedroom units and has had some major updates in recent years including: newer TPO roofs, all newer HVAC systems, updated laundry facility, and updated common grounds. Approximately 25 units have had cosmetic updates done, leaving 15 more to do and increase rents. A billboard is also located on the property and pays $2,000 annually. Reach out to the brokers for more information on this opportunity.

Location

State MO

County St Louis City

Area 3 - South City

Rooms

Basement Concrete, Sump Pump, Walk-Out Access

Interior

Heating Electric

Cooling Ceiling Fan(s), Central Air

Flooring Laminate

Fireplace Y

Appliance Electric Cooktop

Laundry Inside, Laundry Room

Exterior

Parking Features false

Utilities Available Electricity Connected, Sewer Connected, Water Connected

View Y/N No

Roof Type Rubber

Private Pool false

Building

Lot Description City Lot

Story 2

Water Public

Level or Stories Two

Structure Type Brick

Schools

Elementary Schools Oak Hill Elem.

Middle Schools Long Middle Community Ed. Center

High Schools Roosevelt High

School District St. Louis City

Others

Ownership Private

Acceptable Financing 1031 Exchange, Cash, Conventional

Listing Terms 1031 Exchange, Cash, Conventional

Special Listing Condition Standard


Listed by Garen Lafser • Salient Realty Group, LLC

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Danielle Jordan

Danielle Jordan

Broker/Salesperson

+1(573) 308-5933

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3725 Morganford RD