3/7/2008

Hendricks & Partners negotiates sale of St. Louis apartment community

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Grandview Heights Apartments

Chesterfield, Mo.-based ZAZ Properties, LLC has purchased the Grandview Heights Apartments in St. Louis for an undisclosed amount from Dallas, Texas-based LSF5 Grandview, LLC.

The deal was brokered by Ken Aston and Paul Cunningham in the St. Louis office of Hendricks & Partners.

The apartment complex is located on the north side of St. Louis at 3024 Kossuth Ave., and contains 68 units. Built in the late 1980s, it sold with a 10.86 percent capitalization rate on current rents and 11.54 percent rate on market rents. All of the 68 units have 1.5 baths and in-unit laundry facilities.

Address: 3024 Kossuth Ave., St. Louis, Mo.

Size: 68 units

Built: Late 1980s

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Filed Under: Multi-Family

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