20 Units in Updated Complex in South City

Opportunity to purchase a 20 unit apartment complex in south city, close to Cherokee Street, Tower Grove Park, and Benton Park.

• Complex features two buildings with a mix of 16 one bedroom apartments, and 4 two bedroom apartments
• Two bedroom apartments are now renting for $750. One bedrooms are now leasing for $675. Raising the rents to $675 for the remaining one bedrooms will generate significant additional income.
• 19 of the 20 units are currently rented with the vacant unit being left vacant to show.
• Units feature central air conditioning, hardwood floors, and there is lots of closet space.
• Complex features off street parking in the rear, and storage units in the basements for tenants. Located on a convenient bus line.
• Solid brick buildings built in 1964 with pitched roofs.
• There is ample off street parking for tenants in the rear of the complex.
• Tenants pay for rental insurance through The Guarantors. If a tenant defaults on their lease, rent coverage covers owner and operators for the missed rent. Additional information about how this works can be found on The Guarantors website at theguarantors.com.

 Recent Capital Improvements

• A majority of the units have recently been turned over and renovated.
• Individual gas water heaters for all 10 units in 2907, 2909 and 2911 buildings were added.
• 12 new furnaces and AC units secured in metal cages were installed.
• All 6 stairwells and landings were remodeled with new flooring, baseboards, new basement door and lock, painting, electronic locks to the front door.
• Mailboxes were replaced.
• Gutters were repaired.
• Exterior doors were painted.
• P-traps were replaced in the 2015-2919 building.
• Exterior lights were added.