Value-Add Multifamily
1027 Caroline Drive Washington, MO 63090
1027 Caroline Drive, Washington, MO, 63090
$10,500,000
For Sale
$10,500,000
MULTI_FAMILY - Other - Washington, MO
Property Size105,000 SF
Price / SF$100
Days on Market39
Property Features for 1027 Caroline Drive
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 5
- Bathrooms
- 4
- Rooms
- Bathroom 3, Bathroom 2, Bedroom 5, Bathroom 1, Bedroom 3, Bathroom 4, Bedroom 2, Bedroom 4, Bedroom 1
- Standard status
- Active
- APN
- 10-7-26.0-2-011-077.001
- Size
- 105,000 SF
Utilities
- Cooling system
- Central Air, Wall Unit(s)
Building Details
- Year built
- 1974
- Floors in Building
- 2
- Number of units
- 115
- Building materials
- Brick
- Architectural style
- Other
Listing agency
Salient Realty Group, LLC
(314) 374-3687
Listed by
Garen Lafser · License #2015014613
(314) 374-3687
Added: Jun 15 Updated: Jul 22 at 7:36PM Checked: Jul 23 at 1:06AM
MLS# 26038016
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Investment Insights
Based on property information with market context.
This value-add multifamily portfolio totals 115 units across two properties: an 89-unit flagship complex and a 26-unit garden community. The unit mix is strong, with 80% of the units configured as 2-bedroom homes. The offering is described as having an established renovation approach, with two-thirds of units renovated and one-third remaining for additional improvement.
The PublicRemarks also describe an in-place 8.05% cap rate (T3) and a 9.41% proforma stabilized return. It further notes a rent spread of at least $137 per unit per month across non-renovated units.
The portfolio is located in Franklin County, MO, with PublicRemarks citing a 4% vacancy rate and 2.2% annual population growth. The listing is for sale and includes the property at 1027 Caroline Drive, Washington, MO 63090.
The PublicRemarks also describe an in-place 8.05% cap rate (T3) and a 9.41% proforma stabilized return. It further notes a rent spread of at least $137 per unit per month across non-renovated units.
The portfolio is located in Franklin County, MO, with PublicRemarks citing a 4% vacancy rate and 2.2% annual population growth. The listing is for sale and includes the property at 1027 Caroline Drive, Washington, MO 63090.
Key Highlights
- 115‑unit multifamily portfolio with a dual‑asset structure: 89‑unit flagship complex plus 26‑unit garden community
- 80% of units are 2‑bedroom, supporting a strong unit mix across the portfolio
- In‑place return of 8.05% (T3 cap) with 9.41% proforma stabilized
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Value-add portfolio with 115 units across two communities, including a strong 2-bedroom unit mix.
Where is this apartment building located?
The property is located at 1027 Caroline Drive Washington, MO.
What is the asking price?
The asking price for this property is $10,500,000.
What are key features of this property?
This property features: 115‑unit multifamily portfolio with a dual‑asset structure: 89‑unit flagship complex plus 26‑unit garden community; 80% of units are 2‑bedroom, supporting a strong unit mix across the portfolio; In‑place return of 8.05% (T3 cap) with 9.41% proforma stabilized
