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Elizabeth Gregory

elizabeth@gregorylandgroup.com +1(660) 285-5423

$ 1,700,000

Est. payment | -/mo

8,379 SqFt

Save

$ 1,700,000

Est. payment | -/mo

Save

8,379 SqFt

Key Details

Property Type Multi-Family

Sub Type 2-4 Units

Listing Status Active

Purchase Type For Sale

Square Footage 8,379 sqft

Price per Sqft $202

Subdivision Meadow Park Apts

MLS Listing ID 26013512

Style Traditional

Year Built 1963

Annual Tax Amount $20,168

Lot Size 1.475 Acres

Acres 1.475

Property Sub-Type 2-4 Units

Property Description

This offering presents a 32-unit multifamily investment opportunity in Florissant, Missouri, consisting of four eight-family buildings located at 4–16 Bruce Drive. Built in the 1960s, the property features one-bedroom units and is part of a larger seven-building apartment community that has undergone extensive renovations between 2023 and 2026 totaling more than $1.6 million in capital improvements. Updates include electrical system upgrades, central air installation, and modernization of building infrastructure. The property is currently 93% occupied, with rents positioned below market levels, creating a clear value-add opportunity as leases renew and units stabilize. Select units have been intentionally left vacant to accommodate showings. Market data indicates average rents of approximately $942 for comparable one-bedroom units within a three-mile radius. Additional property features include pitched roofs, spacious common areas, ample off-street parking, and washer/dryer hookups in each building, with the potential to add shared laundry facilities for additional income. The property is conveniently located minutes from Lambert International Airport and major employers such as Boeing and Amazon, with nearby land planned for future city park development. The property has a shared maintenance agreement with the 3 four families in the cul de sac, with control of the budget and vendors. It covers exterior common areas, landscaping, lawn care, snow removal, parking, and shared electric. Costs are split by unit count, with the 32 units responsible for 72.73% of shared costs across the 44 total units.

Location

State MO

County St. Louis

Area 48 - Hazelwood West

Rooms

Basement Cellar

Interior

Heating Forced Air

Cooling Central Air

Fireplace N

Exterior

View Y/N No

Building

Structure Type Brick

Schools

Elementary Schools Mcnair Elem.

Middle Schools Northwest Middle

High Schools Hazelwood West High

School District Hazelwood

Others

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Special Listing Condition Listing As Is

Listed by Jordan Schoen • Invest St. Louis

Nearby Locations

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(660) 285-5423

elizabeth@gregorylandgroup.com

115 W Washington Street Kirksville, MO, 63501

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4 Bruce DR Florissant, MO 63031