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$ 10,500,000
Est. payment /mo
Active Under Contract
1027 Caroline DR Washington, MO 63090
105,000 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type 5 Family or More
Listing Status Active Under Contract
Purchase Type For Sale
Square Footage 105,000 sqft
Price per Sqft $100
Subdivision Sunrise Valley & Madison Place Apartments
MLS Listing ID 26038016
Style Apartment Style
Year Built 1974
Property Sub-Type 5 Family or More
Property Description
115-unit value-add multifamily portfolio | 8.05% in-place (T3) cap, 9.41% proforma stabilized
Strong unit mix - 80% of units are 2 beds
Proven rent-up model: 2/3rds of units renovated, 1/3rd remaining for proven upside
Market rent spread of at least $137/unit/month across non-renovated units
High growth submarket - Franklin County: 4% vacancy, 2.2% annual population growth
Dual-asset structure: 89-unit flagship complex and 26-unit garden community
Extremely supply-constrained submarket
Strong unit mix - 80% of units are 2 beds
Proven rent-up model: 2/3rds of units renovated, 1/3rd remaining for proven upside
Market rent spread of at least $137/unit/month across non-renovated units
High growth submarket - Franklin County: 4% vacancy, 2.2% annual population growth
Dual-asset structure: 89-unit flagship complex and 26-unit garden community
Extremely supply-constrained submarket
Location
State MO
County Franklin
Area 366 - Washington School
Interior
Cooling Central Air, Wall Unit(s)
Fireplace N
Exterior
Parking Features false
View Y/N No
Building
Story 2
Level or Stories Two
Structure Type Brick
Schools
Elementary Schools South Point Elem.
Middle Schools Washington Middle
High Schools Washington High
School District Washington
Others
Acceptable Financing Other
Listing Terms Other
Special Listing Condition Standard
Listed by Garen Lafser • Salient Realty Group, LLC
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John Voirol
REALTOR®