Multifamily

The Regency Apartments

1600 N Kingshighway Blvd, St. Louis, MO 63113

Listing Price: Request For Offer

Number of Units
96
Gross SF
51,600

Investment Overview

The St. Louis Regency Apartments (“The Property”) is a 95-unit, class B multifamily asset built in 1973 and renovated in 2020. The property is conveniently located along Kingshighway Boulevard, a major commercial corridor, and within two miles of Interstates 64 and 70, which provide easy access throughout the city and county. The Property is fully stabilized with an occupancy rate of 93.4% as of July 24, 2020. That is a significant improvement over September 2019, when occupancy was 85.7%. Capital improvements at The Property of $600,000 over the past five years have made it an increasingly attractive option. The median occupancy of comparable multifamily properties in the area is 94%, indicating strong demand for this asset type. Four units are currently being utilized as an Adult Day Care business but can be converted back to rentable units to increase annual NOI.

Investment Highlights

  • Just 3 miles from Downtown St. Louis and its attractions
  • Potential for full occupancy once all renovations are complete
  • Potential to increase NOI by leasing up four units currently offline
  • Room for rent growth based on competitive property analysis

Exclusively Listed By

Broker of Record

  • Bradley Barham

    First Vice President Investments

    License(s): MO: 2013016939

    Missouri

Listing Price: Request For Offer

Number of Units
96
Gross SF
51,600

Investment Highlights

  • Just 3 miles from Downtown St. Louis and its attractions
  • Potential for full occupancy once all renovations are complete
  • Potential to increase NOI by leasing up four units currently offline
  • Room for rent growth based on competitive property analysis

Investment Overview

The St. Louis Regency Apartments (“The Property”) is a 95-unit, class B multifamily asset built in 1973 and renovated in 2020. The property is conveniently located along Kingshighway Boulevard, a major commercial corridor, and within two miles of Interstates 64 and 70, which provide easy access throughout the city and county. The Property is fully stabilized with an occupancy rate of 93.4% as of July 24, 2020. That is a significant improvement over September 2019, when occupancy was 85.7%. Capital improvements at The Property of $600,000 over the past five years have made it an increasingly attractive option. The median occupancy of comparable multifamily properties in the area is 94%, indicating strong demand for this asset type. Four units are currently being utilized as an Adult Day Care business but can be converted back to rentable units to increase annual NOI.

Exclusively Listed By

Broker of Record

  • Bradley Barham

    First Vice President Investments

    License(s): MO: 2013016939

    Missouri

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