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Multifamily

Cooper Drive Apartments

302-308 Cooper Dr, Cahokia, IL 62206

Listing Price: $875,000

Cap Rate
8.14%
Number of Units
30
Price/Unit
$29,167
Price/Gross SF
$41.67
Gross SF
21,000

Investment Overview

Cooper Drive Apartments is a 30-unit apartment community consisting of all two-bedroom units throughout four buildings. The property also features an on-site maintenance garage. This property is located next to the main retail corridor in Cahokia with big box retailers, grocers, and restaurants. Cahokia being located along the Mississippi River gives access to a strong workforce population with a large grouping of industrial employers. Just on the other side of the river is Downtown St. Louis, which is a 10-minute drive from Cooper Drive Apartments. This location is perfect to provide workforce housing A new investor can acquire this well-located property for over an 8% CAP providing strong day one returns. There is a gap between current in-place rents and what competitors are achieving by an estimated $77. This gap provides the potential opportunity to an estimated 20% cash-on cash returns in Proforma

Investment Highlights

  • This property is located next to the main retail corridor in Cahokia with big box retailers, grocers, and restaurants.
  • A new investor can acquire this well-located property for over an 8% CAP providing strong day one returns
  • There is a gap between current in-place rents and what competitors are achieving by an estimated $77

Exclusively Listed By

Broker of Record

  • Steven D. Weinstock

    First Vice President / Regional Manager / Designated Managing Broker

    (630) 570-2250

    License(s) IL: 471.011175

    Illinois

Multifamily

Cooper Drive Apartments

Listing Price: $875,000

Cap Rate
8.14%
Number of Units
30
Price/Unit
$29,167
Price/Gross SF
$41.67
Gross SF
21,000

Investment Highlights

  • This property is located next to the main retail corridor in Cahokia with big box retailers, grocers, and restaurants.
  • A new investor can acquire this well-located property for over an 8% CAP providing strong day one returns
  • There is a gap between current in-place rents and what competitors are achieving by an estimated $77

Investment Overview

Cooper Drive Apartments is a 30-unit apartment community consisting of all two-bedroom units throughout four buildings. The property also features an on-site maintenance garage. This property is located next to the main retail corridor in Cahokia with big box retailers, grocers, and restaurants. Cahokia being located along the Mississippi River gives access to a strong workforce population with a large grouping of industrial employers. Just on the other side of the river is Downtown St. Louis, which is a 10-minute drive from Cooper Drive Apartments. This location is perfect to provide workforce housing A new investor can acquire this well-located property for over an 8% CAP providing strong day one returns. There is a gap between current in-place rents and what competitors are achieving by an estimated $77. This gap provides the potential opportunity to an estimated 20% cash-on cash returns in Proforma

Exclusively Listed By

Broker of Record

  • Steven D. Weinstock

    First Vice President / Regional Manager / Designated Managing Broker

    (630) 570-2250

    License(s): IL: 471.011175

    Illinois

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