THE SUNSHINE
APARTMENTS
Ā
BONNE TERRE
The Sunshine Apartments sit adjacent to Bonne Terre, situated within unincorporated St. Francois County, Missouri. Notably, Farmington serves as the county seat and lies about 70 miles southwest of St. Louis. Founded in 1822, Farmington's growth was intimately tied to the region's lead mining industry, which thrived until its eventual decline and closure in the 1970s and 1980s. This decline marked a significant shift for nearby towns like Doe Run and Flat River, which were once bustling mining centers, complete with trains and streetcars ferrying workers to and from the mines. Today, Farmington spans approximately 8.95 square miles, positioned centrally within the state of Missouri.
Download Offering Memorandum40 FULLY UPDATED UNITS
- 40 fully updated units with full-size all-electric appliances
- Previously comprised 67 motel rooms and a large garage
- Onsite amenities: laundry room with 4 commercial machines, free internet access, small manager office with restroom
- Average rent close to $1000 per unit, indicating strong demand
- Rehabilitation nearly complete, projections based on finalized numbers
- Complex consists of three buildings:
- Building 1:
- 32 units plus office, closest to Hwy 67, separated by parking lot rented to adjacent RV dealership
- Building 2:
- 8 units, located farther from the highwayBuilding 3:
-
- Houses water processing, supplying well water to Building 1 after filtration and softening
- Building 1:
UPGRADES IN 2023 & 2024 INCLUDE:
- 100KWH solar system installed by Sun Solar
- Building 1: On-demand water heaters with 100-gallon tank
- Building 2: New water heaters
- New metal roofs, windows, & MasterKey locks
- Commercial laundry machines installed.
- Full unit rehab scheduled for completion by 03/2024
- New PTACs, cabinets with slow-close & granite
- Durable LVP flooring throughout
- Central green space added
- Parking lot sealed, restrooms renovated
UNIT LAYOUTS
Note: All Measurements below are estimated and taken from Building 1
SampleĀ 1 Bed / 1 Bath
Ā
Sample Studio
SampleĀ 2 Bed /Ā 2 Bath
UNIT MIX AND SCHEDULED INCOME
ANNUALIZED INCOME AND EXPENSES
INVESTMENT SUMMARY
BUILDING BLUEPRINTS
Take the Next Step: Make an Offer
THE SUNSHINE
APARTMENTS
Ā
BONNE TERRE
The Sunshine Apartments are located near Bonne Terre in unincorporated St. Francois County, Missouri. Farmington, the county seat, is about 70 miles southwest of St. Louis. Founded in 1822, Farmington grew alongside the region's lead mining industry, which declined in the 1970s and 1980s, affecting nearby towns like Doe Run and Flat River. Today, Farmington covers approximately 8.95 square miles in central Missouri.
Download Offering Memorandum40 FULLY UPDATED UNITS
- 40 fully updated units with full-size all-electric appliances
- Previously comprised 67 motel rooms and a large garage
- Onsite amenities: laundry room with 4 commercial machines, free internet access, small manager office with restroom
- Average rent close to $1000 per unit, indicating strong demand
- Rehabilitation is nearly complete, projections based on finalized numbers
- The complex consists of three buildings:Ā
Building 1:Ā 32 units plus office, closest to Hwy 67, separated by parking lot rented to an adjacent RV dealership
Building 2:Ā 8 units, located farther from the highway building 3:
- Houses water processing, supplying well water to Building 1 after filtration and softening
UPGRADES IN 2023 & 2024 INCLUDE:
- 100KWH solar system installed by Sun Solar
- Building 1: On-demand water heaters with 100-gallon tank
- Building 2: New water heaters
- New metal roofs, windows, & MasterKey locks
- Commercial laundry machines installed
- Full unit rehab scheduled for completion by 03/2024
- New PTACs, cabinets with slow-close & granite
- Durable LVP flooring throughout
- Central green space added
- Parking lot sealed, restrooms renovated
UNIT LAYOUTS
Note: All Measurements below are estimated and taken from Building 1
Sample 1 Bed / 1 Bath
Ā
Sample Studio
SampleĀ 2Ā Bed /Ā 2 Bath
UNIT MIX AND SCHEDULED INCOME
INVESTMENT SUMMARY
ANNUALIZED INCOME AND EXPENSES
BUILDING BLUEPRINTS
