14 Units Available Now in St. Charles

Opportunity to purchase two multi-family buildings located in St. Charles!

• St. Charles, the fastest-growing county in Missouri, has experienced rapid rent growth, with continued growth predicted in the future.
• These buildings are close to historic Main Street St. Charles, a few blocks away from Blanchette Park, which features a large aquatic center, tennis courts, and baseball fields. The location also offers easy access to the Blanchette Bridge and Katy Trail.
• These properties have individual tax parcels but are being sold together for a total of 14 units.
• One building is an 8-family, and the other is a 6-family, with all units featuring 1-bedroom and 1-bathroom layouts. Both buildings were built in 1965.
• The building size for both buildings is 6,440 square feet, and the total lot size across both parcels is 0.361 acres.
• Some unit and building upgrades have been completed in recent years.
• There is great potential to increase rent significantly both as-is and with additional updates.
• There are currently 4 vacancies, with a 5th unit scheduled to be vacant at the end of July.
• With future updates to the units, including modern flooring, lighting, stainless steel appliances, kitchen cabinets, countertops, bathrooms, and in-unit laundry, rent could potentially be increased by 20%-35%.
• Estimated upgrades to the units could range from $15,000-$20,000 per unit, depending on the level of finish and upgrades. Please consult with a professional for actual bids for the completion of renovations.
• With units potentially renting at $995 after updates, the building would generate $13,930 a month, which is $167,160 annualized.
• There are 26 parking spots available for tenants.
• There is an open grassy area on the property that could be made into an enclosed dog park.
• These properties are located in a flood plain.
• A virtual tour of unit 2229 is available here: https://bit.ly/45MXns2