7 Well Maintained Condos In Hazelwood

This portfolio features seven diligently maintained condos across 5 buildings located close to each other in Hazelwood. The condos offer a mix of unit types, including 3 studios, 1 one-bedroom, 2 two-bedroom, and 1 three-bedroom units. With high demand, these units consistently attract multiple rental applications.

  • The current monthly rental income is $6,225, totaling $74,700 annually, while the current annual expenses stand at $31,944, resulting in a net annual income of $42,756.
  • With the new improved price, this investment opportunity meets the 1.2 debt-to-income ratio requirement with a 20% down payment and 7.5% interest rate, with a 20-year amortization.
  • Additionally, there is potential for even higher net income as the units are currently rented below market rates.
  • Property maintenance is hassle-free with the condo association handling all exterior repairs, landscaping, and parking areas.
  • Amenities include dedicated off-street parking, in-unit or on-site laundry, and cost-effective all-electric utilities, covering water, trash, and gas expenses.
  • Major employers like Amazon and Boeing are located within close proximity to the condos.

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Updated Three-Family in the Grove

Opportunity to purchase a renovated 3 family in The Grove. Located across the street from a park, near Forest Park, Barnes-Jewish Hospital, Washington University Medical School, The Cortex, and The Botanical Gardens.

This 3,652 sq. ft. building has a recently renovated 1,800+ sq. ft. 2-story townhome with 3 beds and 1.5 baths. Features include an updated kitchen with stainless steel appliances, updated bathrooms, a fireplace, central air, hardwood floors, a fenced backyard, and off-street parking. Perfect for owner occupancy or for an investor. There are also 2 one-bedroom units with one unit rented for $1,195 and $995.

The potential income is over $50,000 annually if fully rented. Average rent for similar size townhomes within a mile in the last year is $2,304 and the average rent for a similar size 1 bedroom is $1,402. There are two separate basements, the east basement has a bathroom with a shower, and two partially finished rooms.

Take the virtual tour: https://my.matterport.com/show/?m=xLoqix8ZGs9

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Unique Well Maintained Benton Park Four Family

Unique well-maintained 4,032 sq ft four family building located in Benton Park. Walkable to Benton Park, Lafayette Square, Blue City Deli with easy access to highway 44. Building features two 2 bedroom units and two 1 bedroom units. Three units are currently occupied; the 1 beds are currently rented for $500 and $475, the 2 bed is rented for $700. With updates the 1,200 sq ft 2 bedroom units could potentially rent for $975 and the 1 beds for $600 for each. Fully rented with updated units the gross monthly income could be $3,250 a month and $39,000 annually. Building has updated systems including electrical panels, HVAC, plumbing, central air. The property includes a landscaped courtyard and area for potential off-street parking.

Expenses:
Water/Trash $1,400
Sewer $840
Maintenance $4,000
Insurance $1,816
2019 Taxes $2,857
Total $10,913

Paying buyers agents 2.70%

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