Sunrise Valley Apartments & Madison Place Apartments

For Sale

1027 Caroline Drive, Washington, MO 63090

This Washington property for sale is located at 1027 Caroline Drive. The current listed sale price for Sunrise Valley Apartments & Madison Place Apartments is $10,500,000.

Contacts

Garen Lafser

Salient Realty Group

Property Details

  • Property Type Multi-Family
  • Property Size 105,000 SF
  • Units 115
  • Property Tenancy Multi-Tenant
  • Year Renovated 2026
  • Date Updated Jun 29, 2026
Situated in the heart of Washington, Missouri — a charming historic river town on the south bank of the Missouri River — This Portfolio offers investors access to one of Franklin County's most dynamic and steadily growing communities. With a population of approximately 15,900 residents and an impressive growth rate of roughly 8% since the 2020 Census, Washington continues to attract new residents drawn by its blend of small-town character, strong employment base, and exceptional quality of life. Median household incomes of approximately $79,000 reflect a stable, workforce-driven economy anchored by major employers including Mercy Hospital Washington, the Washington School District, and a diverse roster of manufacturing and distribution firms operating within the Oldenburg Industrial Park, plus significant retail development. The community's designation as a "Work-Ready Community" further underscores the depth of its skilled labor pool. Daily life in Washington rivals that of communities many times its size. The historic downtown — a Great American Main Street Award winner and Main Street America Accredited district — features a walkable five-block core lined with acclaimed dining destinations such as Oak & Front Kitchen + Bar and Sugarfire Smokehouse, boutique shopping, art galleries, and local breweries, all set against a backdrop of gorgeous Missouri River views and over 500 buildings listed on the National Register of Historic Places. Residents enjoy a 202-acre park system highlighted by a $6 million Olympic-sized swimplex, extensive trail networks including a growing riverfront trail system, and proximity to top-rated outdoor destinations like Klondike Park and Don Robinson State Park. Washington's central position within Missouri Wine Country adds further lifestyle appeal. Connectivity and forward momentum round out the investment thesis. MO Routes 100 and 47 provide efficient vehicular access to the greater St. Louis metropolitan area approximately 50 miles to the east, while Amtrak's Missouri River Runner service offers daily passenger rail connections to St. Louis and Kansas City directly from Washington Station. Active revitalization efforts — including ongoing downtown preservation initiatives, a new riverfront playground recognized with a 2024 Missouri Park and Recreation Association Citation Award, and a comprehensive 10-year Parks Master Plan — signal sustained public and private investment in the community's future, positioning this 115-unit multifamily asset to benefit from continued demand for quality rental housing in a market defined by consistent population growth and long-term economic resilience.
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Highlights

  • 115-unit value-add multifamily portfolio | 8.05% in-place (T3) cap, 9.41% proforma stabilized
  • Dual-asset structure: 89-unit flagship complex and 26-unit garden community
  • Extremely supply-constrained submarket
  • High growth submarket - Franklin County: 4% vacancy, 2.2% annual population growth
  • Market rent spread of at least $137/unit/month across non-renovated units
  • Proven rent-up model: 2/3rds of units renovated, 1/3rd remaining for proven upside
  • Strong unit mix - 80% of units are 2 beds

Attachments

Getting around

  • 51/100

    Walk Score ®

  • 52/100

    Bike Score ®

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Location

  • City Washington, MO
  • Zip Code 63090
  • Market St Louis

Points of Interest

  • BP

    0.16 miles

  • Mobil

    0.42 miles

  • Murphy USA

    0.50 miles

  • ZX

    0.81 miles

  • West End Station

    1.97 miles

  • Shell

    5.88 miles

  • Purschke Oil & Tire Company

    6.66 miles

  • S & R Convenience Center

    6.67 miles

  • Employee and Postal Vehicle Parking Lot

    0.50 miles

  • Mercy Employee Parking Lot

    0.94 miles

  • Police Vehicle Parking Lot

    1.39 miles

  • Washington Rotary Trail South Point Trailhead Parking Lot

    1.71 miles

  • Employee Parking

    5.71 miles

  • Customer Parking

    5.74 miles

  • Union Pool Car Park

    6.16 miles

  • Oltman Funeral Home Additional Parking

    6.41 miles

  • Lot D

    7.54 miles

  • Lot F

    7.57 miles

  • Super 8

    0.39 miles

  • American Inn

    0.86 miles

  • Best Western Plus Washington Hotel

    1.36 miles

  • Marie Krog House

    1.40 miles

  • Gottfried Cabin Gast Haus

    1.41 miles

  • Glenrich Bed & Breakfast

    1.53 miles

  • Old Dutch Hotel

    1.54 miles

  • Sunset Motel

    8.84 miles

  • JCPenney

    0.20 miles

  • Sears

    0.28 miles

  • Walmart Supercenter

    0.37 miles

  • Aldi

    0.39 miles

  • Schnucks

    0.45 miles

  • Target

    1.01 miles

  • Marshalls

    1.31 miles

  • Ross

    1.32 miles

  • Kohl's

    1.34 miles

  • Not Just Cut and Dried

    1.53 miles

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