7036 Raider Rd Bonne Terre, MO 63628

Exceptional investment opportunity: The Sunshine Apartments, a 40-unit apartment building located at 7036 Raider Rd, Bonne Terre, MO 63628, is currently for sale for $3,750,000. This stabilized Class B multifamily property boasts a 7.50% cap rate and a strong NOI of $281,429. The property, situated on a 98,881 sq ft lot, comprises three 2-story buildings constructed in 1968 and extensively renovated in 2023 and 2024. The renovation included brand new kitchens and baths, flooring, appliances, granite countertops, cabinets, air conditioners, and heaters in all 40 units. Unit types vary, offering studios, one-bedroom/one-bath, and two-bedroom/one-bath and two-bedroom/two-bath configurations. Each unit is spacious and includes free Wi-Fi. The property currently enjoys a 90% occupancy rate as of June 30, 2024, with ample parking (two spaces per unit) and one additional pad. All utilities are included in the monthly rent. The property is zoned residential and features a 100 KWH solar system. The land value is $39.95 per square foot. This is a turnkey operation with significant upside potential. The price per unit is $93,750. This is a rare opportunity to acquire a well-maintained, high-performing multifamily asset in a desirable location. The property is offered free and clear of any ground lease.