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Multifamily

Suburban Heights Apartments

5500 Mable Ave, Kinloch, MO 63140

Listing Price: $6,870,000

Cap Rate
6.55%
Number of Units
104
Occupancy
93.0%
Price/Unit
$66,058
Price/Gross SF
$28.73
Gross SF
239,144

Investment Overview

Marcus & Millichap is pleased to present Suburban Heights Apartments in Kinloch, Missouri in St. Louis County. The property consists of 104 units that were constructed in 1969 and completely rehabbed between 2012-2016. There are eight (8) one bedrooms, (49) two bedrooms, and (47) three bedrooms. The average unit size is 788 square-feet bringing the total rentable square-footage to 81,900. The property is completely fenced in and has electronically operated gates that were replaced in 2015. During the rehab, over $3.6 million was invested into the property. The property has historically operated near full occupancy showing a strong demand for the property. The community is located near the St. Louis Lambert Airport providing tenants easy access to a large number of jobs that include Amazon, Schnucks (owned by Kroger), Boeing, Express Scripts, Pepsi, and much more. NorthPark Partners has recently developed an industrial park and brought over 5,000 permanent jobs within five-minutes of Suburban Heights. Furthermore, within a three-mile radius of the airport there is over 24 million square-feet of industrial space that accounts for over 16,000 jobs within a 10-minute drive of Suburban Heights.

Investment Highlights

  • 19.3 Percent Potential Income Growth
  • 32.4 Percent Projected NOI Growth
  • 104 Market-Rate Apartment Units

Exclusively Listed By

Multifamily

Suburban Heights Apartments

Listing Price: $6,870,000

Cap Rate
6.55%
Number of Units
104
Occupancy
93.0%
Price/Unit
$66,058
Price/Gross SF
$28.73
Gross SF
239,144

Investment Highlights

  • 19.3 Percent Potential Income Growth
  • 32.4 Percent Projected NOI Growth
  • 104 Market-Rate Apartment Units

Investment Overview

Marcus & Millichap is pleased to present Suburban Heights Apartments in Kinloch, Missouri in St. Louis County. The property consists of 104 units that were constructed in 1969 and completely rehabbed between 2012-2016. There are eight (8) one bedrooms, (49) two bedrooms, and (47) three bedrooms. The average unit size is 788 square-feet bringing the total rentable square-footage to 81,900. The property is completely fenced in and has electronically operated gates that were replaced in 2015. During the rehab, over $3.6 million was invested into the property. The property has historically operated near full occupancy showing a strong demand for the property. The community is located near the St. Louis Lambert Airport providing tenants easy access to a large number of jobs that include Amazon, Schnucks (owned by Kroger), Boeing, Express Scripts, Pepsi, and much more. NorthPark Partners has recently developed an industrial park and brought over 5,000 permanent jobs within five-minutes of Suburban Heights. Furthermore, within a three-mile radius of the airport there is over 24 million square-feet of industrial space that accounts for over 16,000 jobs within a 10-minute drive of Suburban Heights.

Exclusively Listed By

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