Cardinal Villas 100-227 Garson Ln 44 Unit Apartment Building $8,087,625 CAD ($183,810 CAD/Unit) 5.88% Cap Rate Farmington, MO 63640

Holman Partners is pleased to present a 100% fee simple interest in a 45-unit duplex/quadplex community located at 100-227 Garson Lane, Farmington, MO 63640. The subject property is located only 0.5 miles from Mineral Area College which has an enrollment just under 4,000 students. The buildings were constructed in 2016-2017, all located on the same parcel. The duplex properties contain units of 3 Bedrooms, 2 Bathrooms, and 1-car garages. The quadplex properties contain units of 2 Bedrooms, 2 Bathrooms, and 1-car garages. There is one single-family home included in the package. Additionally, there are storage units available for tenants to rent providing additional income. There is a high need and demand for student housing in the area. There is an Assumable Fannie Mae Loan at 3.47%!

Farmington, MO is a city in and the county seat of St. Francois County located about 75 miles southwest of St. Louis in the Lead Belt Region of Missouri. The Farmington Micropolitan Statistical Area includes St. Francois County and Washington County and has a population of 90,554 as of 2010. Farmington is also a component of the Greater St. Louis area. The subject property is located near Leadington and Park Hills along Highway 67 and Highway 32. Highway 67 is a main thoroughfare that runs from St. Louis down through Southern Missouri. Cardinal Villas is located 0.5 miles from Mineral Area College, a public community college that has an enrollment just under 4,000 students. Mineral Area College also offers a 4-year degree through Central Methodist University. The property is conveniently located near two major highways as well as many national retail chains, Save-A-Lot, Big Lots, Hardee’s, KFC, and many others. The property is centrally located within the larger Farmington area giving its residents easy access to any part of the city.