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7-Unit Multifamily Investment Opportunity | Soulard
Prime Location:Exceptional 7-unit multifamily investment opportunity located on one of the most prestigious streets in the heart of Soulard, surrounded by historic single-family homes. Ideally situated just minutes from Soulard, Benton Park, Lafayette Square, and Downtown St. Louis.
Site & Setting: The property is situated on a large double lot in a park-like setting, featuring a spacious front yard with potential to add a patio. The building also includes a private, secure interior courtyard, providing an inviting space for tenants to relax and socialize.
Unit Mix: The property consists of six (6) 1-bedroom, 1-bath units and one (1) 2-bedroom, 1-bath unit, offering a desirable unit mix that supports consistent tenant demand and strong long-term occupancy.
Financial Overview: The building is currently fully occupied, generating $88,180 in gross annual income with approximately $23,159 in annual operating expenses.
Property Updates & Features: The property has been recently updated and is equipped with central air conditioning and on-site laundry facilities. Several units have been renovated with updated flooring, fresh paint, stainless steel appliances, and modernized kitchens and bathrooms.
Value-Add Opportunity: Current rents are below market for the neighborhood, presenting a clear opportunity to increase income and improve overall returns through strategic rent adjustment.
Here’s a video of the property: https://tinyurl.com/2332S13thSt
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