1528 James Patrick Lane, Spanish Lake, MO 63138

$6,500,000
List Price
$6,500,000
Days on Market
53
MLS#
MAR22041169
Status
ACTIVE
Subdivision
James Town Condo
Municipality
Unincorporated
School District
Hazelwood
County
St Louis
Year Built
1989
Listing Type
Commercial

Property Description

We are pleased to offer the opportunity to purchase The Reserve at Spanish Lake, a 76-unit multifamily property located within steps of Spanish Lake Park in St. Louis, MO (the 20th largest MSA in the country) which has shown strong market rent growth in the past year of 8% and low market vacancy of 6%. The asset has benefitted from a major capital improvement program implemented by the current ownership. It is well maintained with a proven in-place value-add business model, strong positive rent growth, and exhibits sought after features not readily available in the area. With in-place professional 3rd party property management, this property will be a smooth transition option for both local and out-of-town investors. Offering Memorandum and Financial Reports Available Upon Request

Additional Information

Elementary School
Arrowpoint Elem.
Jr. High School
Southeast Middle
Sr. High School
Hazelwood East High
Construction
Brk/Stn Veneer Frnt, Vinyl Siding
Parking Description
Parking Lot, Unassigned
Cooling
Electric
Sewer
Public Sewer
Heating
Forced Air
Water
Public
Heat Source
Electric
Taxes Paid
28134
Selling Terms
Cash Only, Conventional
Transaction Agent Commission
1.5
Buyers Agent Commission
1.5

Mortgage Calculator

Amount of Loan
Annual Interest Rate
%
Term of Loan
Years

Does not include any taxes or fees.
Please consult a financial professional.
Calculator source: Real Geeks

Listing courtesy of EXP Realty, LLC.

Listings displaying the MARIS logo are courtesy of the participants of Mid America Regional Information Systems Internet Data Exchange. Information From Third Parties, Deemed Reliable But Not Verified