4120 Geraldine Ave Saint Ann, MO 63074

Avion Place, a 118-unit apartment building in St. Ann, Missouri, presents a compelling value-add opportunity. This garden-style community, built in 1968 and situated on 3.94 acres, offers 72,762 square feet of rentable space spread across 13 buildings. The property boasts a mix of one-bedroom apartments and two-bedroom townhomes, appealing to a diverse resident base including young professionals, families, and senior citizens. Currently operating at 84.7% occupancy, Avion Place offers significant upside potential for rental income. 72 of the 118 units have already undergone updates, providing a foundation for continued value enhancement. The property benefits from ample on-site parking and a convenient location near major employers such as Boeing, SSM, Bayer, Schnucks, and St. Louis Lambert International Airport. Its proximity to The Crossings at Northwest shopping center further enhances its appeal. This well-maintained property is offered at $8,700,000, representing a price per unit of $73,728.81 and is considered below replacement cost. The property is nestled in a quiet neighborhood amongst single-family homes, offering a high barrier to entry for competitors.