2,648 Sq ft brick two family located in Benton Park West two blocks north of Cherokee Street. The building is vacant and currently setup as two 1,300 2 bed 1 bath units. Building has a lot of original hardwood and character. Needs updating, the highest and best use would be to convert to a 4 bedroom 2 bath single family home. An almost identical building that was converted to a single family and renovated two doors down at 2918 Wyoming recently sold for $253,550. If left as a two family and updated these units could rent for $1,000+ a month for each unit.

Paying buyers agents 2.70%

56 Unit apt complex located on 1.8 acres across the street from Home Heights Park and minutes from downtown Clayton and the airport. Comprised of 10 brick buildings with pitched roofs & plenty of parking for the tenants. 24 two-bed & 32 one-bed apts. From August 2018 to July 2019 the property generated $363,261 with a net income of $230,129. Current occupancy is at 98%. There have been updates to many of the units including updated kitchen cabinets, flooring, double pane windows, etc. Other recent capital improvements include emergency fire escapes, welding, and PVC plumbing stack replacement.

Paying buyers agents 2.00%

Opportunity to purchase a well maintained 20 unit apt complex in St. Ann located across the street from Tiemeyer Park. The building located in a quiet neighborhood surrounded by single family homes is comprised of 16 one bed apts and 4 two bed apts with central AC and 25 parking spots. The building has had a number of recent capital improvements including exterior and interior electric updating throughout, a new retaining wall running the length of the property and updates to a number of the apts. Rents have been raised to as much as $675 for the 2 beds and $550 for the 1 beds so there is the ability to raise rents. With rents at $675 for the 2 beds and $550 for the 1 beds fully rented the building would generate $138,000 annually. There is only currently one vacancy while a unit is being rehabbed, there is a history of high occupancy rates. Projected income for 2019 is $130,000 with projected expenses at $32,680 for a net potential income of $97,320 which would be a 10% cap rate.

Paying buyers agents 2.00%

Beautiful renovation of a large 2 family located in The Grove, located just 2 blocks from all of the shops and restaurants on Manchester. This 2,494 square foot building features updated kitchens with granite counter tops and stainless steel appliances, refinished hardwood floors, central air. There is a back porch with a fenced backyard with off street parking. The second floor unit is currently rented for $1,175 a month, the first floor features 3 bedrooms and has a finished basement, the unit was previously rented for $1,400 a month and is currently vacant and would be ideal for an owner occupant. Fully rented this building could generate $2,575 a month and $30,900 annually. Expenses are low with taxes only $200 annually, total expenses are $4,188 a year for a potential net income of $26,712.

Expenses
Taxes – $200
Insurance – $900
Sewer – $1032
Water – $656
Maintenance – $1,000
Service Contracts – $400
Total – $4,188

Paying buyers agents 2.70%

Architecturally significant four family built in 1890 located in The Gate District close to Lafayette Park, St. Louis University Hospital, St. Louis University School of Medicine and Cardinal Glennon Hospital. This large 4,936 square foot building was recently rehabbed and features 1,200 square foot 2 bed 1 bath units with updated kitchens with new cabinets, counter tops, stainless steel appliances, renovated bathrooms, new flooring throughout, new back staircases on the rear of the building. Building had a new roof installed, new electric panels, new HVAC. Two units are currently rented, one for $1,200 and one for $1,150 with an application in process at $1,200.

Potential Rent Income with 3 units rented at $1,200 and 1 at $1150 is:
$4,750 Per month
$57,000 Annually
-6% Vacancy ($53,580)

Expenses
Taxes – $1,814
Insurance – $1,200
Sewer – $1,992
Water – $735
Maintenance & Repairs – $2,000
Service Contracts – $400
Total – $8,141

Potential net annual income of $45,439

Paying buyers agents 2.70%

Brick two family located in the Shaw neighborhood located 2 blocks from the Botanical Gardens and within walking distance to Tower Grove Park. The building has been used as a single family primary residence by a long time owner, was not used as a rental property. The highest and best use is conversion to a 4 bedroom 2 bath single family where similar sized single family homes within 1/3 mile have sold from $305,000-$385,000. Property is located in a historic tax credit district. Building is 2,100 Sq ft and features beautiful architectural mill-work and hardware throughout. Being sold as-is.

Comparable Single Family Homes:

4269 Castleman 63110

• .3 Miles Away
• 2,014 Sq Ft
• Sold For $305,000 4/3/18

4201 Flad 63110

• .01 Miles Away
• 1,750 Sq Ft
• Sold For $319,000 6/7/18

4056 Shenandoah 63110

• .01 Miles Away
• 2,024 Sq ft
• Sold For $385,000 11/13/18

Paying buyers agents 2.70%

Four family property for sale in Benton Park West. This property has four shotgun style 1 bedroom units, easily rentable at $500/month. All units are currently inhabitable, with 2 units currently occupied. Located between Cherokee Street and Grand Ave., this property has access to the shops, restaurants, and the night life to be found there. The solid building has updated windows, electric panels newer water heaters, and a PVC plumbing stack, so minimal system updates should be needed. Basement is dry throughout, laundry hookups in basement. 2 vacant units and basement available for showing. Two occupied units available with accepted contract. Please do not disturb tenants.

Well maintained and fully rented four family located in the Tower Grove South neighborhood. This 3,332 Sq ft building was built in 1926 and features four one bedroom units, all units have newer gas furnaces, recently replaced water heaters, recently updated electrical meter base with four 100 amp service panels. A new TPO roof was replaced in May of 2015 and there are some new vinyl windows throughout, there is a two car detached garage, new pvc plumbing, a privacy fence and dusk to dawn lighting. Gross rents are $1,900 a month and $22,800 a year with expenses at $5,535 annually creating a 14% cap rate. 3 of the 4 units are rented to long term tenants.