Embassy-Kings & Cherry Plaza Apartments

As exclusive advisor, MMG Real Estate Advisors is pleased to offer the unique opportunity to acquire Cherry Plaza & Embassy-Kings, a 2-asset, 66-unit multifamily portfolio located in downtown Springfield, MO. This portfolio presents a compelling investment opportunity in a dynamic market characterized by low deliveries and high occupancy rates. Embassy-Kings, built in 1960, and Cherry Plaza, built in 1978, feature a mix of spacious units and are well-maintained properties that cater to a diverse tenant base. The communities offer optimal convenience and connectivity being located in the heart of Springfield, MO and feature sustainable renter demand, durable cash flow, and multiple value creation opportunities.
Significant Value-Add Upside Potential:
Both Cherry Plaza & Embassy-Kings present significant value-add potential through targeted renovations and operational improvements. Investors can capitalize on the existing demand for quality housing while enhancing the property’s appeal and maximizing rental income.
Opportunity to Acquire from Long-Term Local Ownership:
Current ownership has maintained a conservative approach, focusing on long-term stability rather than maximizing immediate revenues. This strategy has preserved the asset’s integrity and provides the next investor with a unique opportunity to implement enhancements that can drive both occupancy and income.
Exceptional Downtown Springfield Location – Proximity to Campus, Countless
Restaurants, Bars, Breweries & Shops:
Nestled near the heart of downtown Springfield, Cherry Plaza & Embassy-Kings provides tenants with the ultimate amenity – the ability to walk minutes to campus, coffee shops, bars, casual and fine dining, local shops, theaters, and countless other businesses in and around downtown.
Fantastic Physical Condition - Well Maintained by Current Ownership:
Both properties are well-maintained, with a blend of classic ch arm and modern amenities. Ongoing maintenance and renovations have preserved their appeal , making them attractive to prospective tenants. With minor upgrades, the portfolio can further enhance its market position.
Attractive Springfield Market Dynamics:
With extremely limited available building sites and very limited new construction in the pipeline, Cherry Plaza & Embassy-Kings are unique assets that can be acquired well below today’s replacement cost in a submarket with limited competition.
Offered Free & Clear of Existing Debt:
Cherry Plaza & Embassy-Kings is being offered free and clear of existing debt, providing the opportunity for a new investor to take advantage of the competitive financing markets and long-term debt with interest-only options and maximum leverage, which helps bolster exceptional returns on investment.