Northbrook Apartments Florissant, MO

Access CA / Doc Center

Northbrook Apartments

Address

105 Reeb Lane
Florissant, MO 63031

Summary

Units: 61
Built: 1963
Renovated: 2024

Investment Highlights

Significant Recent Capex – Unit Upgrades, Common Areas, Systems, and More
Fully Proven Cosmetic Value-Add Business Plan
Strong Operations Provide Excellent In-Place Cash Flow
Central Workforce Location – Proximate to Large Employment Centers
Unmatched Access & Connectivity to Entire St. Louis MSA
Highly Attractive Basis Well Below Replacement Cost
Offered Free & Clear of Existing Debt

Significant Recent Capex – Unit Upgrades, Common Areas, Systems, and More

The community has seen major recent capex focusing on unit renovations, common area modernization, systems upgrades, and much more. This recent investment by current ownership will allow a new investor to step into a fully stabilized asset and focus solely on capturing additional revenue upside through the completion of the current business plan.

Fully Proven Cosmetic Value-Add Business Plan

Current ownership has proven the substantial return on investment that can be achieved through unit and amenity modernizations. Northbrook offers classic interior finishes across ~25% of units, providing new ownership the opportunity to achieve significant rent premiums by completing additional renovations and moving rents to current market. Light interior cosmetic upgrades (LVP flooring, paint, new appliances, upgraded fixtures) have been completed on ~75% of units, with additional remaining upside available on these units with very moderate additional modernization.

Strong Operations Provide Excellent In-Place Cash Flow

Northbrook Apartments offers stabilized occupancy in the mid-90% range and strong in-place operations, allowing a new investor to generate significant going-in cash yield. As new ownership continues to complete the proven value-add business plan, they will see outsized returns as rental income continues to grow as rents are moved to current renovated market levels.

Location Map

Map Type

Fullscreen

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Amenities

Tenant Services

Amenities

Unit Amenities:

Central Heat and Air
Washer and Dryer Hookups in Basements
Large Bedrooms and Closet Storage
Open Living Area
High-Speed Internet
Cable Ready
Disposal
Window Coverings
Wood / Vinyl / Carpet Flooring*
Renovated Kitchens*
Renovated Bathrooms*

*Select Units Only

Community Amenities:

Spacious Extra Storage
Pet Friendly (Breed Restrictions Apply)
Private Off-Street Parking
Minutes from Highways 270, 70, & 170
Easy Access to Public Transportation
Close to Major Employers

Team

Brokerage Team

When evaluating your options for a partner to assist with the sale of your multifamily asset, there are a number of factors you may consider. From experience and market knowledge to marketing prowess and ongoing support, each plays an integral role in creating a positive experience and a profitable outcome. Yet the one competency you may never have considered could be the one that matters most: the ability to move capital across markets efficiently and effectively.

MMG possesses a unique combination of talent, resources, expertise, and access that delivers an elevated experience from acquisition to disposition. Discover the benefits of a partnership with us.