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$3,400,000
Est. payment /mo
29,600 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type 5 Family or More
Listing Status Active
Purchase Type For Sale
Square Footage 29,600 sqft
Price per Sqft $114
Subdivision Becks Tholozan Add
MLS Listing ID 26066809
Style Apartment Style
Year Built 1965
Lot Size 1.020 Acres
Acres 1.02
Property Sub-Type 5 Family or More
Property Description
Morganford Plaza Apartments is a 40-unit, garden-style multifamily community located in the highly desirable Tower Grove South neighborhood of South St. Louis. Situated on approximately 1.02 acres across five buildings, this 29,600-square-foot property was originally constructed in 1965 and substantially renovated in 2016. Recent capital improvements include newer TPO roofing systems, updated HVAC components, electrical panel upgrades, and replacement copper plumbing stacks, providing investors with a well-maintained asset and reducing near-term capital expenditure needs.
The Property offers a compelling value-add opportunity through continued interior unit renovations and strategic revenue growth initiatives while benefiting from established occupancy and strong underlying rental demand. Residents enjoy convenient access to Kingshighway Boulevard, Hampton Avenue, Chippewa Street, major transportation routes, employment centers, shopping, dining, and recreational amenities, including nearby Tower Grove Park.
Morganford Plaza represents a rare opportunity to acquire a well-positioned South City multifamily asset with a proven operating history, significant recent capital investment, and long-term upside in one of St. Louis' most sought-after rental submarkets. Property is being offered free and clear of existing financing.
The Property offers a compelling value-add opportunity through continued interior unit renovations and strategic revenue growth initiatives while benefiting from established occupancy and strong underlying rental demand. Residents enjoy convenient access to Kingshighway Boulevard, Hampton Avenue, Chippewa Street, major transportation routes, employment centers, shopping, dining, and recreational amenities, including nearby Tower Grove Park.
Morganford Plaza represents a rare opportunity to acquire a well-positioned South City multifamily asset with a proven operating history, significant recent capital investment, and long-term upside in one of St. Louis' most sought-after rental submarkets. Property is being offered free and clear of existing financing.
Location
State MO
County St Louis City
Area 3 - South City
Rooms
Basement Concrete, Walk-Out Access
Interior
Cooling Central Air
Fireplace N
Exterior
Parking Features false
View Y/N No
Private Pool false
Building
Structure Type Brick
Schools
Elementary Schools Oak Hill Elem.
Middle Schools Long Middle Community Ed. Center
High Schools Roosevelt High
School District St. Louis City
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition Standard
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Listed by Matt Bukhshtaber • CBRE
Nearby School & Business
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