3300 Russell Blvd, Saint Louis, MO 63104

Description

Exceptional investment opportunity in the historic Compton Heights neighborhood! Russell Arms Apartments is a distinctive 30-unit multifamily property consisting of five beautiful brick buildings situated around a landscaped courtyard. Built in 1926, this architecturally charming complex showcases classic Tudor Revival styling and an attractive unit mix of 18 one-bedroom apartments and 12 two-bedroom apartments. Ownership has invested significantly in the property, including full renovations of 24 of the 30 apartments, roof replacement, repaired fire escapes, an upgraded hot water system, and replacement of many HVAC equipment and appliances. The remaining six apartments have been partially updated, providing additional opportunities for future improvements and rental growth. The property offers established rental income with additional upside through leasing available apartments. Another significant opportunity lies in the property's renovated garage, which is currently not being utilized for tenant parking. Offering dedicated parking spaces to residents presents an attractive opportunity to generate additional monthly income and further enhance the property's overall performance. Ideally situated in one of St. Louis City's most architecturally significant neighborhoods, Russell Arms offers convenient access to Tower Grove Park, the Missouri Botanical Garden, Saint Louis University, major medical centers, and Interstates 44 and 55. With its timeless architectural character, substantial completed improvements, established rental income, and multiple avenues for increased revenue, Russell Arms represents a compelling acquisition opportunity for investors seeking a quality multifamily asset in a premier St. Louis location. Financial information and additional due diligence materials available upon request.