8612 Halls Fry Rd St St. Louis, MO 63147

Exceptional opportunity to acquire the Riverview Apartments, a 42-unit apartment building located at 8612 Halls Ferry Road, St. Louis, MO 63147. This Class C multifamily property boasts 30,000 square feet, with 19,226 square feet of net rentable space. The property sits on a 0.92-acre lot and includes 42 parking spaces. Built in 1925 and recently renovated in 2024, the five-story building offers significant value-add potential. Currently operating at 87% occupancy (as of September 1, 2024), the property generates a Net Operating Income (NOI) of $198,562, with a pro-forma NOI of $160,772. The asking price is $1,700,000, representing a price per square foot of $56.67 and a price per unit of $40,476.19. The current cap rate is 11.68%, with a pro-forma cap rate of 9.46%. This investment presents a compelling opportunity in a growing market with strong educational and employment centers. The property's recent renovations minimize potential loss to lease and demonstrate strong collections. The APN is 05250-00-02000. This is a value-add and repositioning opportunity with significant upside potential.