818 Gustav Ave, Saint Louis, MO 63147

Colliers International is pleased to exclusively offer Blue Fountain Apartments, a 104-unit garden style apartment complex at 818-819 Gustav Ave, St Louis, MO 63147 (the Property). This investment asset is located north of downtown St. Louis in close proximity to major interstates, numerous large employers and well-known institutions.

The offering of this property presents investors with a unique opportunity to acquire a significant value-add asset in St. Louis, which is in the midst of a $10 billion tech and healthcare-related development boom.

Blue Fountain Apartments presents the opportunity for tremendous upside through capital improvements, stabilization, professional management and future rent growth.

Blue Fountain Apartments is comprised of 104 units, located in St. Louis, MO within 20 minutes of downtown St. Louis and St. Louis Lambert International Airport. The property is comprised of spacious one- and two-bedroom floor plans with surface and garage parking and green space.

PROPERTY TOUR DATE: Tuesday through Thursday, 10:00 a.m. through 4:00 p.m. *By Appointment Only

AUCTION DATE: SEPTEMBER 21-SEPTEMBER 23, 2020

COMMUNICATION: All communication, inquiries and requests should be addressed to the Colliers International team, as representatives of the Seller. Management at the property should not be contacted directly.

PROPERTY VISITS: Interested investors are required to schedule a time to meet with the Colliers Inter-national team to tour the asset and discuss the merits of the offering.

SALE CONDITIONS: Buyers should be aware that the owner of the Property is selling the Property in an “As-Is, Where-Is” condition and without representations or warranties, expressed or implied, of any kind.

OFFER SUBMISSIONS: Prospective Buyers are encouraged to register to bid on the Ten X Platform prior to the auction dates of September 21 - 23, 2020.

OFFER GUIDELINES: Prospective Buyers are encouraged to visit https://www.ten-x.com to review the Offer Guidelines.

• Initial Earnest Money - 10% of the purchase price (or greater)


• Additional Earnest Money - 10% of the purchase price (or greater)


• Due Diligence Period - 30 days or Less


• Financing Contingency - None


• Closing Period - 30 Days or Less

Significant Value-Add Opportunity: A rare opportunity exists to implement strategies to improve the asset and stabilize operations through a thoughtful value-add and management program that will immediately increase occupancy, grow market rents, and
Opportunity to Purchase at Below Replacement Cost: In terms of the immediate submarket, Blue Fountain Apartments presents an opportunity to purchase a well-located Class-C asset at a significant discount compared to the cost of reproduction.
Quality Construction & Traditional Design: Built in 1963 and totaling 104 spacious residential units among 4 buildings on over 3.67 acres with ample surface and garage parking.
Strategic Location: Located in St. Louis, MO approximately ten miles from St. Louis Lambert International Airport and less than 20 minutes from downtown St. Louis.