Large Multi-Family Rehab Opportunity

Opportunity to rehab a massive 6 family in the DeBaliviere Place neighborhood located 1 block from the new loop trolley line, 5 blocks from the heart of the loop, 5 blocks from Forest Park and about 1 mile from Washington University and the Central West End. The building backs to the mansions on Washington Terrace and Kingsbury Place. The building is located across the street from the old St. Luke’s Hospital which is under contract–there are plans for a $90,000,000 conversion into apartments and office space.

The 13,776 SF building was built in 1913 as a 6 family with large 1,400+ SF units. The 1st floor units are above grade so it is possible to have 2 additional units added in the basement for a total of 8 units. Features include fireplaces and exterior porches. This building would also be ideal for a condo conversion.

Comparable 6-Family Sales:

– 5726 McPherson 63112- Sold 10/12/17 for $1,000,000. Located approximately .5 miles away. Units rented at $1,395.

– 6250 Clemens 63130- Sold 10/11/16 for $885,000. Located approximately 1 mile away. Units rented for $1,229.

– 5656 Waterman 63112- Sold 11/30/16 for $760,000. Needed updates and TLC, no central air. Located approximately .5 miles away.

This building is vacant & needs a full gut rehab. The property is being sold as-is, no disclosures to be provided.

Asking $325,000

Paying buyers agents 2.7%