Bermuda Heights Apartments 7718-7744 Springdale Dr 67 Unit Apartment Building $9,450,999 CAD ($141,060 CAD/Unit) 6.46% Cap Rate Saint Louis, MO 63121

Positioned in a high-demand rental corridor, 7736 Springdale Drive presents a compelling investment opportunity in the heart of North St. Louis County. Situated on 3.27 acres, this 69-unit apartment community spans 8 well-maintained buildings and is offered at $6,900,000, delivering an attractive 6.46% cap rate supported by strong in-place cash flow and consistently low vacancy. The property features an excellent unit mix of 14 two-bedroom, 1.5-bath units, 39 two-bedroom, one-bath units, and 14 one-bedroom, one-bath units, appealing to a broad tenant base.
Ideally located just minutes from University of Missouri–St. Louis (UMSL), the asset benefits from steady rental demand driven by students, faculty, and the surrounding workforce. Its proximity to NorthPark, along with major employers such as Express Scripts and Boeing Defense, Space & Security, further enhances tenant stability and long-term occupancy. Many units have been thoughtfully updated, along with key improvements to major systems and appliances, minimizing near-term capital expenditures and supporting operational efficiency.
The property is professionally managed with experienced on-site management currently in place, and ownership is willing to facilitate a seamless transition by retaining the existing team, providing operational continuity and reducing lease-up or management risk for a new owner. With market-aligned rents and additional upside potential, this stabilized asset offers investors a turnkey opportunity to acquire a well-located, income-producing property in a proven and growing rental market.