Central West End Rehab Opportunity

This building was previously a hardware store and has unlimited potential- Multi family apartments, live/work, shop, warehouse, studio, office space, or retail. Located in the Central West End 1 block from Lindell, 2 blocks from St. Louis University, close to Washington University Medical School, The Cortex, St. Louis College Of Pharmacy, Forest Park. There are architectural plans to convert the building into 6 apartments along with commercial storage in the basement. Projected income for the 6 apartments and the storage once completed is $75,600 annually with a projected net income of $56,700. There is the potential for a second story to be added or it could also be a rooftop deck for the apartments. The building is 11,753 Square Feet on three levels- Main level and basement are 5,310 sq ft each with the top floor 1,133, needs full renovation. Features include three phase electric service, freight elevator & loading dock, steel & concrete construction, full span steel truss system that allows open floor plan and high ceilings. Building has two addresses 408 & 410 Sarah and could be split. There is currently street parking only but the architectural plans outline how parking spots could be added in the rear. Real estate taxes $2,605.

Price $239,000

Paying buyer’s agent 2.25%