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1027 Caroline Drive

Washington, MO 63090
  • $10,500,000
  • STATUS: Active Under Contract
  • ON SITE: 64 Days
  • ID#: 26038016
Under Contract
$10,500,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 105,000
    SQFT
  • $100
    $/SQFT
Neighborhood:
Sunrise Valley & Madison Place Apartments
Type:
Multi-Family
Built:
1974
County:
Franklin
Area:
Washington School

School Information

Elementary School:
South Point Elem.
Middle School:
Washington Middle
High School:
Washington High
School District:
Washington
School Ratings & Info

Description

115-unit value-add multifamily portfolio | 8.05% in-place (T3) cap, 9.41% proforma stabilized Strong unit mix - 80% of units are 2 beds Proven rent-up model: 2/3rds of units renovated, 1/3rd remaining for proven upside Market rent spread of at least $137/unit/month across non-renovated units High growth submarket - Franklin County: 4% vacancy, 2.2% annual population growth Dual-asset structure: 89-unit flagship complex and 26-unit garden community Extremely supply-constrained submarket

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Listing information © 2026 Mid America Regional Information Systems, Inc. Information from third parties deemed reliable but not verified. Data last update 2026-08-18T23:39:15.67.

Hartmann Realtors Inc.: (618) 344-7900
www.hartreal.com/homes/177742939
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1027 Caroline Drive Washington, MO 63090

  • Price: $10,500,000
  • Status: Active Under Contract
  • On Site: 64 Days
  • ID#: 26038016
0
Beds
0
Baths
0
½ Baths
N/A
Acres
105,000
SQFT
$100
$/SQFT
1974
Built
Neighborhood:
Sunrise Valley & Madison Place Apartments
County:
Franklin
Area:
Washington School
Elementary School:
South Point Elem.
Middle School:
Washington Middle
High School:
Washington High
School District:
Washington
Property Description
115-unit value-add multifamily portfolio | 8.05% in-place (T3) cap, 9.41% proforma stabilized Strong unit mix - 80% of units are 2 beds Proven rent-up model: 2/3rds of units renovated, 1/3rd remaining for proven upside Market rent spread of at least $137/unit/month across non-renovated units High growth submarket - Franklin County: 4% vacancy, 2.2% annual population growth Dual-asset structure: 89-unit flagship complex and 26-unit garden community Extremely supply-constrained submarket
Exterior Features

Architectural Style Apartment Style Attached Garage YN No Carport YN No Construction Materials Brick Garage YN No

Interior Features

Basement YN No Cooling Central AirWall Unit(s) Fireplace YN No Main And Upper Level Bathrooms 0 Main And Upper Level Bedrooms 0

Property Features

Association St. Louis Association of REALTORS Association YN No Disclosures None Gross Income 1241365 Levels Two Listing Terms Other Net Operating Income 845305 New Construction YN No Number Of Units In Community 115 Property Sub Type 5 Family or More Senior Community YN No Special Listing Conditions Standard Structure Type Apartment Building Unit Count 4

Listing provided courtesy of Salient Realty Group, LLC: 314-374-3687. Listing information © 2026 Mid America Regional Information Systems, Inc.
Listing information © 2026 Mid America Regional Information Systems, Inc. Information from third parties deemed reliable but not verified. Data last update 2026-08-18T23:39:15.67.

Hartmann Realtors Inc.: (618) 344-7900
 
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