$4,450,000
PRICE REDUCED~ Oakview Apartments is a 36-unit value-add multifamily community situated in a thriving area of St. Louis’s Central Corridor.
The property consists of three all-brick buildings featuring 36 1-bed, 1-bath units with a strong occupancy rate of 100%. Unit features include in-unit washers and dryers, hardwood floors, updated kitchens with quartz countertops and stainless-steel appliances, as well as rear balconies. Residents can enjoy off-street parking in the parking lot behind in the rear of the buildings.
Oakview Apartments is ideally located just minutes from Forest Park. Its proximity to WashU ensures a steady influx of students, faculty, and staff, driving demand for rental properties. The vibrant Dogtown neighborhood, known for its lively atmosphere and local eateries, adds to the area’s appeal. Downtown Clayton, with its bustling business district and upscale shopping and dining, is also just a short drive away. Additionally, the property is conveniently located near major hospitals and employers in the Central West End, such as BJC Healthcare, attracting healthcare professionals and other workers.
Current rents are below market rates, providing immediate upside potential for future ownership through rental increases. Furthermore, 5 units have not been updated with new kitchens, presenting additional opportunities for value enhancement. The property is being offered free-and-clear, allowing buyers the flexibility to secure new financing.
25060505
MLS
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ACTIVE
Status
1014 Oakview Place, St Louis