Investment Summary:

1. Property Basics: 46-unit updated apartment complex built in 1960, with all 2-bedroom, 1-bathroom units.
2. Prime Location: Located close to major highways, with easy access to Lambert Airport and Downtown St. Louis.
3. Recent Updates: Newer windows, hardwood floors, and updated kitchens, many of which feature granite countertops.
4. Convenient Amenities: Separate laundry building with coin-operated washers and dryers for tenant use, as well as plenty of parking available.
5. Spacious Layout: Spread across 13 buildings, the complex offers approximately 27,930 square feet of building space and sits on a lot of approximately 74,331 square feet.
6. High Occupancy Rate: Currently 100% occupied, indicating strong demand and stability in the complex.

Paying buyers agent 1.25%.

Great four-family building in a fantastic location in Southwest Gardens. Right next to Botanical Gardens near Tower Grove Park, just off Interstate 44. Each unit is 1 bedroom, 1 bathroom at 850 sq. ft. each for a total of 3,400 sq. ft.

Other property features include:

• A new roof installed and tuck-pointing completed in 2021.
• A 4 car garage with two separate doors.
• PVC stack/lateral throughout- all the way to the street.
• Vinyl windows, updated electric panels, and more (inspection reports available upon request).
• All four units are currently rented, with two units month-to-month providing flexibility for the next owner.
• True one-bedroom units. No units are shotgun/walkthrough/loft style units.
• Washer/dryer hookups provided for each individual unit in the basement.
• Forced air central heat. Ductwork in place for adding condensers for central air. Currently building is cooled with window units.
• Current rents average ~$1.21/sq. ft. There is room to increase rents as-is, or improve finishes to attain rents in/around ~$1.50/sq. ft. or more.
• 3D virtual tour is available for unit 2011A: https://bit.ly/Unit2011A

Portfolio of single family homes located in north St. Louis county. The homes are a mix of 3, 2 and 1 bedrooms.

There is the potential to increase rents significantly both as-is and with additional updates.

Average rent for the homes is $899 a month based on similarly sized rental homes with the same bedroom and bathroom count in the same zip codes.

There is also potential to update the homes and sell them retail to owner-occupants in the future.

There are numerous similarly sized updated homes selling for over $100,000 nearby.

There is a management company in place that has been managing properties for 19 years located near the homes, management services can remain in place after the sale if desired.

Most of the homes are located in very close proximity providing ease with maintenance and leasing.

The seller has recently completed several capital expenditure items and completed numerous turnovers when renting to new tenants.

The portfolio to be sold as-is.

Showings will be available with an accepted contract.

Rental comparable information was obtained by rentometer.com.

Portfolio of single-family rental homes for sale. The majority of the homes are occupied with the tenants paying rent. There is the potential to increase rents significantly both as-is and with additional updates. 

Average rent for the homes is $899 a month based on similarly sized rental homes with the same bedroom and bathroom count in the same zip codes. 

There is also potential to update the homes and sell them retail to owner occupants in the future. There are numerous similarly sized updated homes selling for over $100,000 nearby. 

The seller has recently completed several capital expenditure items, and completed numerous turnovers when renting to new tenants.

There is a management company in place that has been managing properties for 19 years located near the homes, management services can remain in place after the sale if desired.

The majority of the homes are located in North County.

Many of the homes are located in very close proximity providing ease with maintenance and leasing. 

Homes are to be sold as-is.

Showings will be available with an accepted contract.

Rental comparable information was obtained by renotmeter.com.

Welcome to this turn-key investment opportunity! This fully-renovated, two-unit property is 100% occupied and cash flowing on day 1. The property is fully stabilized with two long-term tenants (5+ years and 3+ years) at rents of $805/month and $865/month with tenants paying utilities directly (units are individually metered). With lease roll-overs in January and August 2024, and market rents for similar units at $1,039/month for similar units, this property has significant upside potential via near-term rent increases (or owner-occupancy if you prefer – live in one unit, collect rent on the other). Additional upside potential is available via the lease-up of the on-site two-car garage.

Each 2BR/1BA unit is approximately 1,150 sq ft for a total of 2,300 sq ft of living area. Unit amenities include full kitchens (oven/stovetop, dishwasher, garbage disposal, and refrigerator), central HVAC, ceiling fans, hardwood floors, and private decks. Building amenities include a +/-1,150 sq ft basement, washer/dryer hookups, lockable storage closets available to tenants and/or the landlord, a fenced yard with locking gates, and a two-car garage.

The property was fully renovated in 2015 with new building systems and unit renovations. New building systems include: 200-amp electric panels, PVC stacks, lateral piping under the basement slab, water heaters, HVAC systems, separate utility meters, gas furnaces (2017), and roof (2018). Interior renovations include: reconfigured open-concept floor plans along with new fully equipped kitchens (appliances, sink/countertop, and cabinetry), bathrooms, windows, drywall/paint, and other interior finishes.

Located in the Gravois Park neighborhood, the property is within walking distance to area amenities including: shops and restaurants on S Grand Ave, the Cherokee St entertainment district, Schnucks grocery store, schools, parks, the St Louis Public Library, Gravois Park, and a variety of public transportation options.

Renovated 8 family for sale located in St. Louis County approximately a 15 minute drive to the airport and 20 minutes to downtown St. Louis and Clayton. The property has 2 four-family ranch style buildings consisting of 4 two bed units, and 4 one bed units.

• The two bedroom units rent from $800-$850 a month and the one bedrooms rent for $700.
• Fully rented this building would generate over $6,000 a month. 7 of the 8 units are rented with the last unit being left vacant to show.
• Renovation of the buildings included updates to the units including kitchens with appliances, updated baths, flooring, water heaters, furnaces, condensers, windows, interior and exterior electric service, etc.
• Priced to sell at $50,000 per unit, there are numerous nearby comparable multi-family buildings that have sold in the last year for $60,000 per unit or more.
• Average rent for 15 one bedroom apartments within 2 miles in the last year is $869.
• Average rent for 15 two bedroom apartments within 2 miles in the last year is $944.

View the virtual tour here: https://my.matterport.com/show/?m=ojGcoxKa3F1