909-923 Geyer Ave. is a 28-unit value-add multifamily property situated in the historic Soulard neighborhood. The property offers an investor the rare opportunity to acquire a large apartment building in an extremely high-barrier-to-entry submarket with a proven operating performance and tremendous upside potential. The property enjoys a strong occupancy rate, offering an investor the opportunity to acquire a well-performing asset in a historic area of St. Louis.
Built in 1885 and extensively renovated in 2023, the Property features studio, 1, 2, and 3-bedroom floor plans, off-street parking, and on-site laundry facilities.
INVESTMENT HIGHLIGHTS
• Turnkey Property: Recent significant capital expenditures (capex) minimize immediate maintenance concerns and maximize potential returns.
• Extensive Renovations: Unit interiors, roofs, HVAC systems, brickwork (tuckpointing), landscaping, and outdoor amenities (dog park, outdoor lighting, decks) have all been recently upgraded.
• Unit Renovations: Include all-new flooring, updated kitchens & bathrooms, new light fixtures, fresh paint, and in-unit laundry (most units).
• High-Quality Improvements: Newly painted decks and window trim contribute to curb appeal and property value.
• Value-Add Potential: Opportunity to further increase rents and property value through strategic management and additional enhancements.
