7736 Springdale Drive, Normandy, MO 63121
sale
$6,900,000
|
Other
Courtesy Of The Hermann London Group
Positioned in a high-demand rental corridor, 7736 Springdale Drive presents a compelling investment opportunity in the heart of North St. Louis County. Situated on 3.27 acres, this 69-unit apartment community spans 8 well-maintained buildings and is offered at $6,900,000, delivering an attractive 6.46% cap rate supported by strong in-place cash flow and consistently low vacancy. The property features an excellent unit mix of 14 two-bedroom, 1.5-bath units, 39 two-bedroom, one-bath units, and 14 one-bedroom, one-bath units, appealing to a broad tenant base.
Ideally located just minutes from University of Missouri St. Louis (UMSL), the asset benefits from steady rental demand driven by students, faculty, and the surrounding workforce. Its proximity to NorthPark, along with major employers such as Express Scripts and Boeing Defense, Space & Security, further enhances tenant stability and long-term occupancy. Many units have been thoughtfully updated, along with key improvements to major systems and appliances, minimizing near-term capital expenditures and supporting operational efficiency.
The property is professionally managed with experienced on-site management currently in place, and ownership is willing to facilitate a seamless transition by retaining the existing team, providing operational continuity and reducing lease-up or management risk for a new owner. With market-aligned rents and additional upside potential, this stabilized asset offers investors a turnkey opportunity to acquire a well-located, income-producing property in a proven and growing rental market.
Ideally located just minutes from University of Missouri St. Louis (UMSL), the asset benefits from steady rental demand driven by students, faculty, and the surrounding workforce. Its proximity to NorthPark, along with major employers such as Express Scripts and Boeing Defense, Space & Security, further enhances tenant stability and long-term occupancy. Many units have been thoughtfully updated, along with key improvements to major systems and appliances, minimizing near-term capital expenditures and supporting operational efficiency.
The property is professionally managed with experienced on-site management currently in place, and ownership is willing to facilitate a seamless transition by retaining the existing team, providing operational continuity and reducing lease-up or management risk for a new owner. With market-aligned rents and additional upside potential, this stabilized asset offers investors a turnkey opportunity to acquire a well-located, income-producing property in a proven and growing rental market.
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Property Features
- Age: Over 50 Years Old
- Amenities: Ceiling Fan
- Appliance: Dishwasher
- Appliance: Garbage Disposer
- Appliance: Microwave
- Appliance: Refrigerator
- Appliance: Dryer
- Appliance: Range
- Appliance: Washer
- Architecture Style: Other
- Cooling System: Ceiling Fan(s)
- Cooling System: Central Air
- Exterior Type: Brick Veneer
- Exterior Type: Brick
- Floor Covering: Vinyl
- Floor Covering: Laminate
- Floor Covering: Tile
- Floor Covering: Carpet
- Floor Covering: Tile - Ceramic
- Heating System: Forced Air
- Heating System: Natural Gas
- Legal Description: NORMANDY HEIGHTS AMENDED LOTS 16 THRU 22 & LOTS PTS 13 THRU 15 & VACATED PUBLIC WALK PT (CITY OF NORMANDY ORD #123 (7330-2731)) BLOCK 5
- MLSID: 26023533
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