1342 Gdn Dr St, St. Louis, MO 63138

This exceptional investment opportunity presents the chance to acquire Timber Ridge Apartments, a 144-unit multifamily complex located in St. Louis, Missouri. The property boasts 131,290 square feet of residential space spread across 18 two-story buildings, situated on approximately 6.07 acres. Each of the 144 units features two bedrooms and one bathroom. Currently operating at 90% occupancy, the property offers a pro-forma NOI of $550,578 and a pro-forma cap rate of 11.22%. The asking price is $4,950,000, translating to a price per unit of $34,375 and a price per square foot of $37.70. The property is zoned R6 and was built in 1968. Ample parking is available for residents. This bank-owned foreclosure is sold "as-is" with no representations or warranties. While under lender ownership, some units have been renovated and leased, presenting a clear path for an investor to increase occupancy and capitalize on the strong demand for multifamily housing in this area. The property enjoys a convenient location within one mile of several national retailers, including Circle K, McDonald's, Burger King, CVS, and Dollar Tree, and is also close to Interstate 270 and Highway 367.