Wisdom-Gardens

Investment Opportunity

Wisdom Gardens, located at 5951 Goodfellow in St. Louis, Missouri, presents a compelling multifamily investment opportunity with 48 one-bedroom units, each offering 575 square feet of living space. Built in 1964, the property has recently undergone substantial capital improvements enhancing its market position and tenant appeal.

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ST. LOUIS OFFICE

101 S. HANLEY ROAD, SUITE 550 ST. LOUIS, MO 63105 PHONE: 314.984.5500 | FAX: 314.498.5501

Investment Advisors:

FINANCING:

Christopher Ellis

Senior Managing Director 303.689.8317 christopher.ellis@berkadia.com

KEVIN KOZMINSKE

Senior Managing Director 314.984.5514 kevin.kozminske@berkadia.com

CORTNEY MAULDIN

Managing Director 314.322.3463 cortney.mauldin@berkadia.com

PAT GARLICH

Director 314.984.5536 pat.garlich@berkadia.com

ANDREA KENDRICK

Managing Director 314.984.5591 andrea.kendrick@berkadia.com

BOBBY MILLS

Senior Director 314.984.5505 bobby.mills@berkadia.com

KEN ASTON

Managing Director 314.984.5590 ken.aston@berkadia.com

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Willow Ridge is located one mile from Palmer Park which is Colorado Springs largest greenspace with over 730 acres of parks and 25 miles of hiking trails.

Minutes from Palmer Park:

The property sits a couple blocks from Academy Blvd, which is one of Colorado Springs main North/South thoroughfares. Academy Blvd is lined with restaurants, grocery stores, and big box retailers.

Proximate to Retail:

Willow Ridge has been owned by the same owner for 18 years.

Long Term Ownership:

Current management is operating the property with a 57% expense ratio. Via professional management, a new owner should be able to see significant cost savings in controllable expenses.

Operational Upside through Controllable Expenses:

Current ownership has maintained the property exceptionally well. Capital improvements in recent years include four new boilers, all vinyl windows, new siding & stucco repair work, new landscaping, and a new parking lot resurface. The roof was replaced in 2024 and ownership is currently replacing all electrical panels at the property.

Significant Capital Improvements Complete:

The property currently has 35 storage units that new owner could grow top line revenue by charging $25/month for storage.

Increase Revenue via Rentable Items:

Current ownership does not charge for pet rent and a new owner can charge up to $35/month per pet in addition to a $200 pet deposit per pet.

Operational Upside in Other Income:

The property is a mile from Palmer Park, a 15-minute drive to Downtown Colorado Springs, a 15-minute drive to the Colorado Springs Airport, and a 15-minute drive to Interstate 25.

Central Colorado Springs Location:

Willow Ridge contains eight tuck-under parking spots that are rented for $25/month and are consistently full. Due to demand, a new owner can raise parking rents up to $50 or $75 per month per tuck under parking space.

Tuck Under Parking:

University of Missouri-Columbia (Mizzou): Keeneland Downs is a quick five-minute drive from the university, which enrolls over 30,000 students annually, contributing to a stable rental demand and a highly educated workforce. Mizzou is a member of the prestigious Association of American Universities (AAU) and is recognized for its School of Journalism, cutting-edge research, particularly in the agricultural, engineering and health sciences fields. Economic Drivers: Columbia benefits from a diversified base, including major employers in education, healthcare, and insurance. Boone Hospital Center, MU Health Care, and Shelter Insurance are among the top employers, providing stability and resilience to the local economy. Additionally, Columbia’s unemployment rate consistently trends below the national average, and the city has a reputation for fostering small business growth and innovation.

Prime Location: Keeneland Downs is five minutes to the University of Missouri, Boone Hospital, Women’s Health Center and other healthcare facilities, as well as Columbia’s vibrant downtown. Additionally, the property benefits from proximity to Columbia College and Stephens College. Residents also enjoy easy access to Columbia’s thriving downtown, which offers a variety of dining, shopping, and entertainment options, as well as nearby recreational amenities like the Stephens Lake Park, MKT Trail, and Cosmo Park. Growing Market: Columbia’s population has grown by approximately 10% since 2010, with projections indicating continued expansion due to its attractive quality of life and economic opportunities. population growth and economic stability make it a very desirable investment market. Columbia’s central location in Missouri, along the I-70 corridor, makes it a key connection point between St. Louis and Kansas City.

Occupancy Rate: 98%, indicating strong demand and stable cash flow. No Current Concessions: The absence of rental concessions underscores the property’s strong market position and tenant demand. Potential for Increased Revenue: Washer and Dryer Installations: Opportunity to install washer and dryer appliances in all basements, generating additional monthly income. RUBS Iplementation: Currently, the landlord pays for water, sewer, and trash. Implementing RUBS could shift these costs to tenants, increasing NOI.

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5951 GOODFELLOW BOULEVARD ST. LOUIS, MO 63147

WISDOM GARDENS

Investment Highlights

LOCATION

Recent Capital Improvements:

New windows installed, improving energy efficiency and aesthetics. Upgraded lighting throughout the property, enhancing safety and ambiance. Resurfaced parking lot, providing improved accessibility and curb appeal. Addition of Juliet-style balconies, offering enhanced outdoor space for tenants.

Consistent Cash Flow: High occupancy rate ensures steady rental income without the need for concessions. Value-Add Potential: Recent improvements and additional income opportunities enhance the property’s investment appeal. Strong Market Demand: The demand for affordable one-bedroom units in St. Louis supports high occupancy and low vacancy risk. Location Highlights: Situated in St. Louis, Wisdom Gardens benefits from proximity to local amenities, public transportation, and major thoroughfares, making it an attractive option for renters seeking convenience and accessibility. The neighborhood offers a blend of residential tranquility and urban connectivity. St. Louis Market Analysis: St. Louis continues to exhibit a stable rental market with a diverse economy and cultural attractions, making it an attractive location for multifamily investments.

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48 Units | Built 1969