This offering is for 2 complexes offered as package sale. Riverview Park Place and Glasgow Gardens. 160 units combined, properties are within a mile of each other and can be managed easily together. These complexes have stable operating history and offer substantial value-add opportunity as rents are low for the market and can be significantly improved with some capital improvements and interior renovation. Priced to sell quickly to qualified investors at $24,000/unit. Properties operating at 8.5+% cap rate at list price, with significant upside potential. Riverview 10056-75 Toelle Lane (92 units, 80 1 bed, 12 2 bed), Glasgow Gardens 103 Shepley Drive in Glasgow Village (68 units, all 2 bed, 1 bath). Glasgow is currently run as a senior housing property, although there are no regulations requiring that it remain senior housing.
Bathrooms: 0.00
Price: $3,840,000
For more information about this property, please contact Paul Cunningham at 314-406-4896 or apts@paul-cunningham.com. You can also text 4507991 to 67299.
MLS ID: 17062286
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