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This is a portfolio of 38 units in North City, Saint Louis, perfect for an investor looking for buildings that are fully rented with reliable tenants, and a reliable stream of income. The current owner has put an incredible amount of work into each of the buildings, and the pride of ownership shows.
Properties currently generate $19,550 monthly gross rent, $234,600 annually, with $49,195 annual expenses. That translates to $185,405 net income. Properties can be purchased as a package for $1,025,000, an 18% Cap Rate, or individually as listed below:
1) 1292-1298 Hamilton Ave 63112 (12 Family) and 5882 Page Ave 63112 (4 Family)
Owner would prefer these two properties be sold together. A great example of the pride of ownership current owner has taken in these properties, these two buildings are in wonderful condition. Shared lot has private, well-lit, fenced-in parking with approximately 12 parking spots.
The 12 family Hamilton building boasts 2 br units, with hardwood floors and updated kitchen/baths, thermal windows with three window units. Updated electric with modern breaker boxes. Basement is clean and dry, with private storage area for each unit and private washer/dryer units, and individual furnaces. Roof is approximately 7 years old in good condition. 6 of the 12 units have dining rooms.
The 4 family Page building has 1 br units with dining rooms, high gloss tile flooring, thermal windows and window unit. Updated electric with modern breaker boxes. Basement is clean and dry, with private storage area for each unit and private washer/dryer units. Roof is approximately 10 years old in good condition.
Income and Expenses:
Monthly Rents:
Hamilton: 11@$550 = $6050
1@$600 = $600
Page: 1@$475 = $475
1@$500 = $500
2@$550 = $1100
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Total Monthly Rents: $8725
Annual Rents: $104,700
Annual Expenses:
Water $2148
Sewer $4164
Lighting $1356
Maintenance: $3600
Trash: $1980
Taxes: $3570
Insurance $4741
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Total Annual Expenses: $21,559
Net Income: $83,141
Cap Rate: 15%
Asking $550,000
2) Goodfellow Complex – This 20 1 br unit complex is comprised of the following buildings:
Current owner has kept the buildings in immaculate condition. Each 1 br unit has high gloss tile flooring, and updated kitchen and bath, thermal tilt-in windows with window units, and private balcony area. Building improvements include approximately five year old rubberized roof, updated plumbing with PVC to main, copper water lines, updated electric with modern breaker boxes, own water heaters. Basement is clean and dry, with recent tuck-pointing, and private, walled off storage areas for each unit with personal washer/dryer units in each. Owner recently added new glass brick windows around perimeter of building, There is private, well-lit, gated parking in the back with approximately 15 parking spots.
Income and Expenses:
Monthly Rents: $9,635
Annual Rents: $115,620
Annual Expenses:
Water $3,900
Sewer $6,384
Lighting $1,092
Maintenance: $4,320
Trash: $2,112
Taxes: $1,875
Insurance $4,770
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Total Annual Expenses: $24,453
Net Income: $91,167
Cap Rate: 19.4%
Asking $475,000
3) 5928 Plymouth 63112 (Duplex)
Well maintained, cash-generating duplex. First floor is a spacious 1 br unit renting at $550. Second floor is 2 br unit renting at $640. Basement is clean and dry, with private storage areas and private w/d for each unit.
Income and Expenses:
Monthly Rentals: 1 br @ $550, 2 br @ $640 = $1190 monthly
Annual Rentals: $14280
Annual Expenses:
Water $408
Sewer $792
Maintenance: $600
Trash: $264
Taxes: $414
Insurance $705
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Total Annual Expenses: $3183
Net Income: $11097
Cap Rate: 14.8%
Asking $75,000
Please call listing agent to set up any showings. Allow 24 hours notice to show. Please do not disturb tenants.
Detailed financial breakdown available upon request.
Search the MLS below using the city, postal code, address or listing id of the desired property.
