59 Fully Renovated Apartments For Sale Near Washington University

• One Loop Apartments includes 59 fully renovated apartments.

• Conveniently located a half mile from Washington University’s North Campus, and the Delmar Loop.

• Washington University’s Medical School is ranked 11 in the U.S. News & World Report ranking for 2023 for research. The undergraduate program was ranked 14th in the U.S. in 2022.

• The Loop is known as one of the cultural centers of St. Louis with many shops, restaurants, and entertainment options. The Loop was named one of the 10 Great Streets In America by the American Planning Association.

• Also located 1.3 Miles from Washington University’s main campus, and Forest Park. Forest Park is home to the St. Louis Zoo, the St. Louis Art Museum, the St. Louis Science Center and the Missouri History Museum.

• Washington University just purchased 9 buildings in The Loop as they continue to expand their footprint north of the main campus.

• There are 5 total buildings in the complex which have 9 (1) bed units, 13 (2) bed units, and 37 (3) bed units. There are 146 total bedrooms in the Complex.

• The unit mix percentage breakdown for the property is (63%) 3-bed units, (22%) 2-bed units, and (15%) 1-bed units.

• The entire complex is fully renovated – with the last two units currently being completed. The complex is 96% full including 4 pending tenants scheduled to move in. The seller plans to sell the property with all of the apartments completed with 95%+ in occupancy.

• There is potential to raise the rents to the market rents for a good portion of the units, which could generate an additional $40,000+ annually in revenue.

• Current Fannie Mae rates for a property like this would be 170bps +/- over the 10 year UST, which would equate to a 5.24% interest rate.

• With renovation completed the complex is similar to being new construction, which will keep maintenance and turnover costs very low.

• A laundry facility and playground was added to the property. There is secure gated parking with 76 parking spots.

• There is a bus line that has a stop directly in front of the complex. St. Vincent’s Greenway Trailhead is across the street, which has a paved trail that stretches all the way to Forest Park. There is also an extensive playground area, splash pad for kids, and basketball court.

Improvements To The Exterior Of The Property

New Exterior Fence throughout the Property with Automatic Gates
New Security System With Cameras
New Playground
New Facade
New Sloped Metal Roofs and Siding Roofs
Repaired and Replaced New Façade Texture & Painting
Newer Vinyl windows
New Awnings
New Mailboxes
Paving In Parking Area Resurfaced
Landscaping

Improvements To The Interior Of the Property

New Plumbing
New Electrical
New Bathrooms
New Kitchens
New Stainless Steel Appliances
Drywall Repaired and Replaced
New Flooring Throughout the Units
New Laundry Room