Completely Renovated and Fully-Rented Benton Park Four-Family For Sale

Completely renovated four family for sale a short walk to Benton Park, Cherokee Park, The Anheuser-Busch Brewery and antique row on Cherokee Street. Renovation included all kitchens with soft close maple cabinets, above and under cabinet lighting, stainless steel appliances including stoves, refrigerators, dishwashers, microwaves, and garbage disposals. All kitchens have extended island countertops for seating in all units, units have built in desks. There was a bonus room added to one of the first floor apartments which is 15×10 making the total building square footage approximately 3,650 sq ft. All furnaces and condensers with secured cages were replaced, all electric, plumbing, both flat roofs were replaced, all of the bathrooms were renovated. Windows with transferable lifetime warranty were replaced throughout, units have large walk in closets with pantries, can lighting, there is a backyard privacy fence with locked gates and spot lights, two units with decks, gutters were replaced, basement is clean and dry with lighting in the stairwells. There are glass block windows in basement, washer dryer hookups, all four chimneys were tuck-pointed, there are partitioned alarm systems for all tenants. All units are almost identical. The building is fully rented for $3,510 a month and $42,120 a year with expenses at $7,790 for an annual net income of $34,330. Units are rented approximately 20% under market rent, units rent out within a few days. Would be ideal for an investor looking for a turn key investment or an owner occupant who could live in one unit and have the tenants pay the mortgage.

Rent Breakdown…..
3331 (1st floor):$865 (lease expires 2/28/19)
3333 (1st floor with bonus room): $865 (lease expires 2/28/19)
3331A (2nd floor): $880 (lease expires 8/31/19)
3333A (2nd floor): $900 (lease expires 6/30/19)
Monthly Gross Rent: $3,510
Annual Gross Rents: $42,120

Expense Breakdown…..
– Trash/ Sewer $64.27/month
– Water $16.65/month
– Lawn Care $120/month
– Alarm $117.38/month
– Property taxes $80/month
– Insurance $125/month
-Maintenance And Repairs $125/month
Total Monthly Expenses: $649
Total Annual Expenses: $7,790

Annual Net Income: $34,330
Cap Rate: 7.3%

Paying buyers agent 2.7%