River Pointe Apartments 9639-9640 Diamond Dr 86 Unit Apartment Building $5,459,409 CAD ($63,481 CAD/Unit) 8.18% Cap Rate Saint Louis, MO 63137

This freshly renovated 86-unit apartment complex offers an exceptional blend of modern comfort and strategic location. Comprising two well-maintained buildings—one with 20 units and the other with 66—the property features a mix of one- and two-bedroom units, along with an onsite leasing office for seamless tenant management.
Every unit has been meticulously updated, complemented by comprehensive upgrades such as flooring and full paint including new and repaired electrical systems in both buildings, replacement of most AC condensers and furnaces, brand-new parking lot, decks, and staircases. The grounds are enhanced with fresh landscaping and secure fencing, presenting a polished, move-in-ready appearance.
Situated at the end of an established neighborhood of middle-class single-family homes and small multifamily properties—all recently renovated—the location provides a peaceful setting with minimal noise and traffic. Adjacent to over 100 acres of undeveloped city-owned land with no planned development, the property enjoys exceptional privacy and tranquility.
The motel-style layout with exterior access ensures convenient entry for residents while supporting efficient operations. This turnkey asset represents a strong opportunity for investors seeking quality, income-producing multifamily real estate in the St. Louis market.
With its current occupancy being 70%, the property still cashflows at the current asking price. All that will be left to do is continue leasing the remaining rent-ready units, to create further upside to both cashflow and equity/appraised value. JCRP Property Management company is available to assist any new buyer with great and competitive management services. This purchase is a no brainer for any committed investor!