This value-add opportunity offers the potential for substantial returns. Here are the highlights:

Scarcity: This is a rare find—no similar opportunity of a 5+ rehab opportunity in North Hampton has appeared on the MLS in over 10 years.

Rehab Opportunity: Two units have direct fire damage, while four units have smoke exposure.

Six Units: Includes two spacious 2-bedroom units and four 1-bedroom units, all vacant and ready for rehab.

Strong Rental Demand: Nearby rental comps show strong potential returns, with 1-bedrooms at $1,095 and 2-bedrooms at $1,295 after updates.

Upward ROI Potential: Sales of 5+ unit buildings in the surrounding areas range from $102,500 to $195,833 per unit, depending on size and condition, offering flexibility in rehab decisions.

Prime Location: Positioned in the sought-after North Hampton neighborhood, this project combines substantial upside with limited supply.

Sold As-Is: Property is sold in its current condition, with no repairs or concessions.

Prime investment opportunity with strong rental demand and potential for increased income.

• Meticulously maintained property situated in the vibrant Tower Grove South neighborhood.
• The property is located within walking distance to Tower Grove Park, Botanical Gardens, numerous restaurants, shops, and nightlife on Morganford.

Property Overview:

• This property is made up of three tax parcels consisting of each building and the parking lot.
• Two side-by-side 10-unit brick buildings, built in 1965.
• The total above grade square footage is 10,852 with a total leasable area of 11,136 sq ft.
• 1-bedroom apartments, all above grade units are 543 sq ft and all below grade units are 612 sq ft.
• The buildings are configured with four units per floor with eight above grade units in each building.
• Easy-to-rent and maintain units with low turnover.

Building Features:

• Each building has 3 levels.
• On-site laundry facilities in both buildings (coin-operated washers and dryers).
• Private storage for tenants and a large storage room for supplies.
• Maintenance shop in the basement with slop sink and shelving.
• Copper and PVC stacks for plumbing.
• Baseboard heating and hotel-style cooling units which keep costs and maintenance low.
• Pitched roofs, with exterior doors featuring key code access.
• Security cameras installed for enhanced safety.
• Ample tenant parking at the rear of the property.

Unit Upgrades:

All units have received significant updates:

• Appliances: Stove, fridge, and garbage disposals were replaced.
• New interior and exterior doors were installed.
• Refinished hardwood and laminate floors.
• New vanities, countertops, and medicine cabinets in all units were added.
• Six units feature new cabinets and bathtubs.
• Units 3537-09 and 3541-10 now have private washer and dryer laundry hook-ups added.

Full Renovations (Units 3537-09, 3537-10, and 3541-09):

• Renovations included new front doors.
• Updated plumbing and electrical.
• Renovations also included new windows, floors, and walk-in closets.
• Brand-new kitchen and bathroom in Unit 3541-10.

Building Improvements:

• New front entry doors with secure coded access.
• Public halls and stairs carpeted (May 2021).
• Federal Pacific electrical panels replaced with Murray panels in 2015.
• Asphalt resealed and restriped (2013, 2021, and July 2023).
• Quarter-turn shut-offs at all sinks and toilets.
• Icemaker hookups added for refrigerators.

Plumbing & Safety Features:

• Roofs replaced in September 2011 (25-year architectural shingles).
• Water shut-offs updated in 2023 (main and basement access for each unit).
• Sixteen new security cameras installed in 2023 (long-distance viewing, 2+ week backup).
• Fire extinguishers, exit lighting, and railings installed for safety and insurance compliance.

Potential Rent Increases:

• Current rents are below market rent for nearby apartments, current average rent is $725.
• Average market rent for similar sized 1-bedroom apartments in the area range from $895 – $1,050.
• There is an additional opportunity for rent increases with minor cosmetic updates.

Additional Features:

• Smart lock key system on all deadbolts for enhanced security.
• New larger satin nickel mailboxes, including office mailboxes in hallways.
• 2024 improvements include new stair railings, updated flooring in 2 units, and new AC units.

Virtual Tours Available:

• 3541 Morganford – Unit 2: https://bit.ly/3541_Unit_2
• 3541 Morganford – Building Laundry Facilities and Storage: https://bit.ly/3541_Basement

The seller will be reviewing offers at 2 p.m. Friday, October 25th.

Updated brick duplex in South City’s Princeton Heights, just half a mile from Christy Park, offers two distinct units with lots of character.

• The first-floor unit has one large bedroom, a small bedroom/office, and a private deck. The upstairs unit features two large bedrooms and one bathroom.
• Both units include refinished hardwood floors, central air and heat, new vinyl windows (2020), original stain glass windows, and walk-in closets with French doors.
• The property sits on a large corner lot including a fenced-in backyard and a 21×19 detached garage.
• Tenants have access to basement laundry facilities.
• The duplex generates $25,800 annually, with the first-floor unit renting for $1,050/month (lease ends 12/31/24) and the upstairs unit at $1,100/month (lease ends 3/31/25).
• This combination of modern updates and steady rental income makes it an appealing investment.

Paying buyers agent 2.5%

Check out this well-maintained two family located in University City, within walking distance of Washington University, Lewis Park, and the Heman Park Pool. 

• There is the potential to add value to this property with cosmetic updates to the kitchens and baths.
• The 2,576 SF building is comprised of two bedroom units that are each approximately 1,250 SF. 
• The average rents of 13 two bedroom apartments within 1.5 miles in the last year is $1,778.
• The building features hardwood floors, fireplaces in each unit, a large living room and dining room, central air conditioning, and radiant heating with one of the boilers being recently replaced.
• A new AC was installed for the upper level in 2023.
• There is a PVC plumbing stack and the lateral has been replaced. 
• There is an enclosed porch on the back of each apartment, storage units for the tenants, and laundry hookups in the basement. 
• The tuckpointing is in great shape, and there is a brick two car garage in the rear of the property. 
• There is a long term month-to-month tenant in the first floor unit, and the second floor is vacant. 
• Sales comparables range from $300k-$758k in 63130 zip code depending on size and updates.
• A virtual tour of the upstairs unit is available here: https://bit.ly/7118_2F

Fully updated 8-unit apartment building in the historic Tower Grove East neighborhood.

• Located just 1.5 miles from Tower Grove Park and all the amenities South Grand has to offer.
• The building is surrounded by popular neighborhood restaurants and coffee shops for tenants to enjoy.
• Built in 1927, this brick building has a total square footage of 6,400 on a 6,288 square foot lot (0.144 acres). This property is priced to sell at $102 per square foot.
• Each 1-bedroom, 1-bathroom unit boasts 750 square feet of modern living space.
• All units were completely renovated in 2021 with granite countertops, stainless steel appliances (including gas stoves, refrigerators, microwaves, and dishwashers), in-unit washers and dryers, and keyless locks throughout.
• Major property upgrades in 2021 include new condensers, PVC plumbing, sewer laterals, and a TPO roof.
• There is potential to increase rent as-is. Using an estimated pro forma rent amount of $1,024 per month, a fully-occupied building would generate $8,192 per month, or $98,304 annually. The pro forma rent amount is based on 33 1-bedroom apartment rentals seen within 1 mile of the property in the last year, according to Rentometer.com.
• A virtual tour of one of the units is available here: https://bit.ly/2906_2W

Paying buyers agent 2%