Property Description

This offering presents a 32-unit multifamily investment opportunity in Florissant, Missouri, consisting of four eight-family buildings located at 4-16 Bruce Drive. Built in the 1960s, the property features one-bedroom units and is part of a larger seven-building apartment community that has undergone extensive renovations between 2023 and 2026 totaling more than $2.2 million in capital improvements. Updates include electrical system upgrades, central air installation, and modernization of building infrastructure. The property is currently 87.5% occupied and in lease-up, with rents positioned below market levels, creating a clear value-add opportunity as leases renew and units stabilize. Select units have been intentionally left vacant to accommodate showings. Market data indicates average rents of approximately $942 for comparable one-bedroom units within a three-mile radius, while nearby two-bedroom units average about $1,050 within one mile. Investors may acquire the 32-unit one-bedroom portfolio for $2,375,000 ($74,218 per unit) or purchase the entire 44-unit complex for $3,500,000 ($79,545 per unit), which also includes four four-family buildings with two-bedroom units located within the same cul-de-sac. The seller plans to deliver the property 90% occupied. Additional property features include pitched roofs, spacious common areas, ample off-street parking, and washer/dryer hookups in units with the potential to add shared laundry facilities for additional income. The property is conveniently located minutes from Lambert International Airport and major employers such as Boeing and Amazon, with nearby land planned for future city park development.

Property Features

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