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St. Catherine and Veronica Place 2 Multifamily Properties in Florissant, MO
INVESTMENT HIGHLIGHTS
- Both properties are 100% leased with waiting lists for one-bedroom units.
- Market-rate, independent living for residents aged 55+.
- Value-add potential through continued unit renovations (95% of units at St. Catherine and 75% at Veronica Place eligible for upgrades).
- St. Catherine: 86 units (one- and two-bedroom), built 1989; Veronica Place: 79 units (one- and two-bedroom), built 1980.
- Significant recent capital expenditures: $958,000 at St. Catherine (including new roof, HVAC, and common area upgrades); $1,540,000 at Veronica Place.
- Properties can be purchased individually or as a portfolio.
EXECUTIVE SUMMARY
St. Catherine Apartments and Veronica Place Apartments, located in Florissant, Missouri, are being offered for sale either individually or as a portfolio. St. Catherine comprises 86 one- and two-bedroom units built in 1989, while Veronica Place consists of 79 one- and two-bedroom units built in 1980. Both properties operate as market-rate, independent living communities for residents aged 55 and older. The assets are stabilized and fully leased, with waiting lists for one-bedroom units at both locations. Recent capital improvements include significant investments in HVAC systems, common area upgrades, and unit renovations. St. Catherine has transitioned away from an optional food service program, resulting in cost savings and increased leasing velocity. Both properties are offered free and clear of existing debt, allowing flexibility in financing. The properties are located within two miles of each other and currently share a management team for operational efficiency. The North County submarket, where the properties are situated, is experiencing positive economic indicators, including employment growth and increased median household income, supporting strong rental demand.
PROPERTY FACTS
| Sale Type | Investment | Individually For Sale | 0 |
| Status | Active | Total Building Size | 138,645 SF |
| Number of Properties | 2 | Total Land Area | 11.37 AC |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 138,645 SF |
| Total Land Area | 11.37 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
|
St. Catherine Retirement Community
3350 St Catherine St, Florissant, MO 63033 |
Multifamily | 78,645 SF | 1989 | - |
|
Veronica Place
1425 N New Florissant Rd, Florissant, MO 63033 |
Multifamily | 60,000 SF | 1980 | - |
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St. Catherine and Veronica Place
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