20-Unit Apartment Complex on Morganford

Prime investment opportunity with strong rental demand and potential for increased income.

Meticulously maintained property situated in the vibrant Tower Grove South neighborhood.
The property is located within walking distance to Tower Grove Park, Botanical Gardens, numerous restaurants, shops, and nightlife on Morganford.

Property Overview:

This property is made up of three tax parcels consisting of each building and the parking lot.
Two side-by-side 10-unit brick buildings, built in 1965.
The total above grade square footage is 10,852 with a total leasable area of 11,136 sq ft.
1-bedroom apartments, all above grade units are 543 sq ft and all below grade units are 612 sq ft.
The buildings are configured with four units per floor with eight above grade units in each building.
Easy-to-rent and maintain units with low turnover.

Building Features:

Each building has 3 levels.
On-site laundry facilities in both buildings (coin-operated washers and dryers).
Private storage for tenants and a large storage room for supplies.
Maintenance shop in the basement with slop sink and shelving.
Copper and PVC stacks for plumbing.
Baseboard heating and hotel-style cooling units which keep costs and maintenance low.
Pitched roofs, with exterior doors featuring key code access.
Security cameras installed for enhanced safety.
Ample tenant parking at the rear of the property.

Unit Upgrades:

All units have received significant updates:

Appliances: Stove, fridge, and garbage disposals were replaced.
New interior and exterior doors were installed.
Refinished hardwood and laminate floors.
New vanities, countertops, and medicine cabinets in all units were added.
Six units feature new cabinets and bathtubs.
Units 3537-09 and 3541-10 now have private washer and dryer laundry hook-ups added.

Full Renovations (Units 3537-09, 3537-10, and 3541-09):

Renovations included new front doors.
Updated plumbing and electrical.
Renovations also included new windows, floors, and walk-in closets.
Brand-new kitchen and bathroom in Unit 3541-10.

Building Improvements:

New front entry doors with secure coded access.
Public halls and stairs carpeted (May 2021).
Federal Pacific electrical panels replaced with Murray panels in 2015.
Asphalt resealed and restriped (2013, 2021, and July 2023).
Quarter-turn shut-offs at all sinks and toilets.
Icemaker hookups added for refrigerators.

Plumbing & Safety Features:

Roofs replaced in September 2011 (25-year architectural shingles).
Water shut-offs updated in 2023 (main and basement access for each unit).
Sixteen new security cameras installed in 2023 (long-distance viewing, 2+ week backup).
Fire extinguishers, exit lighting, and railings installed for safety and insurance compliance.

Potential Rent Increases:

Current rents are below market rent for nearby apartments, current average rent is $725.
Average market rent for similar sized 1-bedroom apartments in the area range from $895 – $1,050.
There is an additional opportunity for rent increases with minor cosmetic updates.

Additional Features:

Smart lock key system on all deadbolts for enhanced security.
New larger satin nickel mailboxes, including office mailboxes in hallways.
2024 improvements include new stair railings, updated flooring in 2 units, and new AC units.

Virtual Tours Available:

3541 Morganford – Unit 2: https://bit.ly/3541_Unit_2
3541 Morganford – Building Laundry Facilities and Storage: https://bit.ly/3541_Basement

The seller will be reviewing offers at 2 p.m. Friday, October 25th.

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Rare Development Opportunity in The Grove

Prime Opportunity: Two adjacent lots in The Grove present a rare chance to invest in a highly sought-after location, just one block from the vibrant shops and restaurants on Manchester Avenue.

Highly Desirable Location: These lots are ideally situated near key St. Louis landmarks such as Forest Park, Barnes-Jewish Hospital, the Washington University Medical Complex, and the Missouri Botanical Garden, offering unmatched convenience and appeal.

Ready for Development: Both lots are already divided, making them perfect for the construction of side-by-side townhomes.

Lot Dimensions: The lot at 4328 Gibson measures 19 feet wide by 126 feet deep, while 4330 Gibson measures 16 feet wide by 126 feet deep.

Incredible Market Potential: With nearby townhomes in the 63110 zip code recently selling for up to $500,000, or $271 per square foot, this is an outstanding development opportunity in a thriving neighborhood.

Paying buyers agent 2%.

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Rehab-Ready Ranch with Strong Rental Demand

Prime Rehab Opportunity: This single-family home is perfect for investors seeking a fix-and-flip or rental property with significant equity potential.

Multiple Exit Strategies: Offers flexibility for either a quick flip or long-term rental with strong returns.

Ideal for BRRRR Strategy: A great candidate for Buy, Rehab, Rent, Refinance, Repeat, unlocking cash flow and appreciation.

Pride of Ownership: Located on a well-maintained block, reflecting a community that cares.

Desirable North County Location: Close to major highways, amenities, and anchored by the popular Pasadena Hills neighborhood and University of Missouri St. Louis.

High Rental Demand: Local rental market is strong, with potential rents over $1,300/month.

Renovation Started: Much of the hard work is done—just add your finishing touches to bring this ranch back to life.

Strong Comparable Sales: Recent area sales of up to $161,000 (within 1/4 mile) and $169,000 (within 1/3 mile) underscore this property’s value.

Property to be sold as-is. Seller to make no repairs.

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12 Turn-Key Single-Family Homes For Sale

Rare opportunity to acquire a portfolio of 12 single-family homes, all concentrated within the desirable 63137, 63134, and 63042 zip codes. This portfolio offers an excellent blend of stability, income, and future upside potential, making it ideal for both seasoned investors and those new to real estate investing.

Strategic Location: The portfolio includes 9 homes in the 63137 zip code, 2 in the 63134 zip code, and 1 in the 63042 zip code, all within close proximity to each other, simplifying management and oversight.

Spacious Layouts: Each home features a minimum of 3 bedrooms and 1 bathroom, with one standout property at 6947 Midwood offering 5 bedrooms and 2 bathrooms, appealing to a wide range of tenant profiles.

Income-Producing: 11 of the 12 homes are currently leased to qualified tenants, ensuring immediate and consistent rental income from day one.

Recent Upgrades: The current owners have invested approximately $180,000 into capital improvements and updates including roofs, driveways, water heaters, landscaping, appliances, flooring, bathroom and kitchen remodels since 2022. This reduces operational headaches and allows for a smooth ownership transition.

Long-Term Value: A savvy investor could continue leasing these homes for years, capitalizing on steady income, and then sell individual properties to owner-occupants at a premium for top dollar.

Value-Add Potential: Significant upside exists by increasing rents to the market value, potentially boosting gross monthly income to over $10,000. There is the added potential to convert all houses to Section 8 tenants for a rental income boost, with an upside of over $18,000/month.

Seller will be reviewing offers October 8th at 12:00pm. Please include a response time of October 9th at 12pm.

Paying buyers agent 1.5%

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Updated Brick Duplex in Princeton Heights

Updated brick duplex in South City’s Princeton Heights, just half a mile from Christy Park, offers two distinct units with lots of character.

The first-floor unit has one large bedroom, a small bedroom/office, and a private deck. The upstairs unit features two large bedrooms and one bathroom.
Both units include refinished hardwood floors, central air and heat, new vinyl windows (2020), original stain glass windows, and walk-in closets with French doors.
The property sits on a large corner lot including a fenced-in backyard and a 21×19 detached garage.
Tenants have access to basement laundry facilities.
The duplex generates $25,800 annually, with the first-floor unit renting for $1,050/month (lease ends 12/31/24) and the upstairs unit at $1,100/month (lease ends 3/31/25).
This combination of modern updates and steady rental income makes it an appealing investment.

Paying buyers agent 2.5%

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Converted and Renovated Single-Family Home

Welcome to this converted and renovated single-family home, nestled in the vibrant Tower Grove South neighborhood.

This home perfectly blends modern convenience with classic charm, offering four spacious bedrooms and two full bathrooms.
A new roof promises durability and peace of mind, while the updated electrical and plumbing systems enhance the home’s efficiency and functionality.
The new flooring throughout adds a touch of elegance, seamlessly tying together each inviting space, from the cozy living room to the sleek, well-appointed bedrooms.
Currently rented at $1,600/month, which is under market value with similar 4B/2Ba renting for $1750+.
This property presents a unique investment opportunity. A savvy investor can continue generating rental income for several years and eventually sell the home for top dollar to an owner-occupant with comparable sales up to $290,000.

Don’t miss out on this versatile and profitable property!

Paying buyers agent 2.5%.

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14-Unit Income Producing Apartment Complex

Built in 1960, this 14-unit apartment complex features recently updated 2-bedroom, 1-bathroom units across three buildings. With strong rental income and recent property upgrades including a new roof and parking lot, this investment offers immediate returns and future growth potential.

Property Details: Built in 1960, the property has a total of 11,536 square footage across three buildings on a 41,818 square foot lot.
Value-Add Potential: There is opportunity to significantly enhance property value and cash flow by increasing below-market rents to align with current market rates, coupled with optimizing property management efficiencies for improved operational performance. There is the added potential to reduce or entirely eliminate utility expenses by billing tenants for their usage.
Unit Details: All 2-bedroom, 1-bathroom units have been recently updated across three buildings.
Spacious Living: The total building square footage is 11,536, situated on a generous lot of 41,818 square feet or 0.96 acres.
Recent Upgrades: Significant improvements include a roof less than 5 years old and a newly redone parking lot within the past 2 years.
Security Features: Safety is a priority, with onsite cameras located at the complex.
Basements & Laundry: The property includes seven basements, each basement is semi private, with 2 apartments sharing one basement. There are 14 washer and dryer hookups (no machines currently in place).
Strong Rental Income: The current rents total $10,185/month, with potential for increases.
Comparable Sale: The nearby 2202 Hord recently sold for $60,000 per unit, with each unit rented at $605 per month. Hord had a gross income of $72,600, while Chambers currently generates $122,220 annually. Chambers benefits from more units, higher rents, and additional rental income potential.

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Stylish 2-Bed, 1-Bath Condo Near Forest Park

The location of this condo speaks for itself, great for living just outside of the CWE (Barnes, WashU, and the Cortex) without a car and taking the metro in/out each day. Nice finishes and updated appliances. Bike locker storage area, gated parking (1 assigned spot), and best of all – right across the street from Forest Park.

Unit Details: Stylish 945 square foot 2-bedroom, 1-bathroom condo on Pershing Avenue offering a panoramic view of Forest Park.

Fantastic Location: Located across the street from Forest Park, 50 yards from the Forest Park Metrolink Station – which is the last stop that services Westbound to both the Blue Line to Washington University and the Red Line to Lambert Airport. Eastbound service can get you to the Central West End and Downtown St. Louis. Within walking distance to the Central West End, The Loop, Washington University (both the medical campus and Danforth), the Metrolink Station, and Forest Park.

Unit Upgrades: The condo features an updated kitchen with all newer Maytag stainless steel appliances, high end finishes, granite countertops, and a convenient washer/dryer combo unit. The bathroom has a spa rain shower, granite countertops, a modern vessel sink, and plenty of additional counter space. There are hardwood floors throughout the living, dining, and hallways, complemented by carpeted bedroom spaces and tile in the kitchen and bathroom.

Balcony Spaces: Enjoy two balcony spaces, one off the living/dining area and another off the spacious 2nd bedroom.

Other Building Amenities: A common washer and dryer is available on each floor, along with a bike storage room with tools for tenant use.

Private Parking: Includes one assigned gated off-street parking space.

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Fully-Occupied, Income-Producing 3-Family

Seize the opportunity to own this fully occupied, cash-flowing property, currently generating $2,035/month with potential for increased rents.

This solid brick building features central heating and air conditioning in all units, including one newly renovated unit and two long-term tenants.
Major updates include a new roof and sewer laterals in 2021 and 2024, new appliances, two new furnaces in 2021, a new AC unit in 2023, and a new fence in 2024.
With its strong return on investment and room for rent growth, this property is a valuable addition to any investment portfolio.
Offered at a 9% cap rate, with modest rent increases, this can easily exceed a 10% cap rate.

Don’t miss out—make your offer today and capitalize on this outstanding opportunity!

Paying buyers agent 2%.