Wholesale rehab opportunity located on Hunt in The Grove where there are new homes being built and many homes being renovated. This brick bungalow built in 1896 still has original trim, baseboard, flooring and fireplace from when it was built. There is a walkout basement in the back of the house which allows for additional bedrooms and bathroom to be built which counts toward the living area of the home. A nearly identical house was renovated a few doors down at 4362 Hunt where they reconfigured the first floor and added 2 beds and 1 full bath to the basement and made it a 3 bedroom 2 bath home and doubled the living space, it sold for $256,069. 4340 Swan is 660 sq ft with finished basement and just sold for $250,000 ($21,000 over asking). This would be a great renovation project for an investor or for an owner occupant looking to create sweat equity and design their own home. Sold as-is.
Link to pictures of 4362 Hunt
https://www.realtor.com/realestateandhomes-detail/4362-Hunt-Ave_Saint-Louis_MO_63110_M74889-23943#photo27
Link to pictures of 4340 Swan
https://www.realtor.com/realestateandhomes-detail/4340-Swan-Ave_Saint-Louis_MO_63110_M78763-33498
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Check out this updated turn-key fully rented four family in South Hampton. Building features units with hardwood floors, updated kitchens with dishwashers, completely updated bathrooms with updated title, shower system, vanity, floors. The building has central air throughout, there are newer condensers, vinyl windows, newer furnaces, PVC stacks, updated electric, private storage for tenants, washer dryer hookups for all tenants. There is a built in barbecue pit in the back yard and off street parking spots for all of the tenants. The units are rented for $775, $775, $700, $700. The building generates $2,950 a month for an annual total of $35,400, annual expenses are $7,458. There are two long term tenants of 4 and 5 years, apartments are due for a rent increase. This building has been meticulously maintained and would be a great low maintenance building for any investor or owner occupant.
Paying buyers agents 2.7%
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This 4 bedroom 2 bathroom home is just over 1,600 sq ft, being one of the largest houses on the block it is boasting with potential. Plenty of natural light throughout the home with an eat in kitchen and comfortable living room. Two large bedrooms upstairs with the other two bedrooms on the main level. Good bones and a great layout is already there, this home is just waiting on your finishing touches! New roof was added in February of this year. Great opportunity for an owner occupant to build some sweat equity with cosmetic repairs; depending on updates rents can get up to $1,050 a month. Property is being sold as-is! Comparable Sales After Rehab: 2862 Endicott 63114- 4 bed 1 bath 1,285 sq ft. sold for $88,000 7731 Florentine 63121- 4 bed 2 bath 1,300 sq ft. sold for $100,000.
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Spacious hard-to-find ranch home located in the Mehlville school district. This home has been completely updated from top to bottom featuring gourmet kitchen- if you are an aspiring Chef this is the kitchen you would love to cook in. Other features include newer updated bathrooms, newer windows, newer flooring throughout, newer roof, all 3 of the large bedrooms have been remodeled and there is the potential to add two additional bedrooms very easily. There is a huge walkout finished basement with 10 foot ceilings in the entertaining area with extra storage in the unfinished area. The yard has a new fence, irrigation system, and new landscaping. This one will not last long!
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-Rare opportunity to purchase a single-family home across the street from St. Louis University medical athletic field, one block from the St Louis University School Of Medicine. St. Louis University owns almost all of the property around it with plans to build 40 homes in the future. Its also one block from the new $550M St. Louis University hospital.
https://www.kmov.com/news/slu-looking-to-build-homes-on-more-than-lots-near/article_954f24fe-bf11-11e9-87db-9b051cc32309.htm
-Would make a great rental for SLU medical students or faculty.
-This 812 sq ft brick home is currently configured as a 2 bedroom but could be converted to a 3 bedroom. Was previously used as a daycare.
-Home needs updates and repairs, being sold as-is.
-Spectacular view of the downtown St. Louis skyline.
-The best after repair comparable sale is 2817 Hickory 63104. It is a 704 sq ft 2 bedroom home that sold for $186,000 on 4/29/20 located a few blocks away.
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Located in The Grove within walking distance to Forest Park, Botanical Gardens and is 1 block from the restaurants and shops on Manchester. This 1 bedroom home is approximately 675 sq ft on the main level and also has a room in the basement that is framed out for additional living space and potential additional bedroom. A dormer could also be built out on the current second floor attic to create a bedroom on the second floor. With the 2nd story build-out and the finished basement the total living space in the house would be closer to 1,000 sq ft. This house is in the process of being renovated and is awaiting finishing touches. Much of the framing, electric, plumbing, HVAC work has already been completed. Would be a great house for an owner occupant to pick their own finishes.
This home can be purchased with 4355 Hunt Ave as a package for $170,000 or purchased separately.
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Located in The Grove within walking distance to Forest Park, Botanical Gardens and all the restaurants and shops on Manchester. This brick bungalow has just been gutted and is ready for rehab. Home is approximately 759 sq ft and is on a block with numerous homes being renovated and new construction homes being built. Similar sized renovated homes closeby have sold for $155,000 and $169,900. One of the few wholesale homes available for renovation in the area. Home features a deck on the back of the house and fenced backyard. Perfect for an investor or owner occupant.
Comparable Sales After Rehab
4307 Hunt 63110- Frame 2 bed 1 bath 882 sq ft sold for $155,000
4245 Blaine 63110- Brick 2 bed 1 bath 855 sq ft sold for $169,900
This home can be purchased with 4335 Swan Ave as a package for $170,000 or purchased separately.
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Fantastic opportunity to purchase a turn-key four family located in the North Hampton neighborhood. This building was updated throughout featuring kitchens with updated cabinets, breakfast bar, dishwasher, microwave, stove, fridge, backsplash, tile flooring, USB charging ports. Bathrooms are updated throughout with new tile, new vanity, shower system. There is a bonus room off of the back bedroom that has electric that is ideal for a kids room or office. The units have central air conditioning, stained glass windows, there are original hardwood floors, new lighting and fans throughout. The building has off street parking, washer dryer hookups for the tenants in the basement. The electric has been updated, there is pvc plumbing and newer condensers. The building is currently fully rented at $3,387 a month which is $40,644 annually if fully rented with annual expenses at $8,247 creating a potential net income of $32,397 a year which is an 8.1% cap rate. Showing units only with an accepted contract.
Rents:
$800 (plus additional $12.00 washer rental for a total of $812) Lease through 3/3/2021
$850 Lease through 8/31/2020
$850 (plus additional $25 pet fee and $25 washer/dryer rental for a total of $900) Lease through 7/15/2020
$825 Month to month
Expenses:
Real Estate Taxes – $2,349.22
Insurance – $1,242.50
Sewer – $1,664.45
Water – $1,490.20
Maintenance – $1,500
Tenants pay Gas & Electric.
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-Rare wholesale rehab apartment complex in Richmond Heights for sale a few blocks from Clayton, Forest Park, St. Marys Hospital.
-1930’s vintage building is approximately 33,600 square feet with a 21,344 square foot lot.
-This 36 unit apartment complex is comprised of 24 one bedrooms and 12 two bedroom units. This is a great Value Add opportunity for an experienced developer.
-The building is being offered for $450,000 which is $12,500 a unit. -The building can be purchased with a house with a 1/4 acre lot located directly behind it at 1327 Sunset 63117 for $200,000 which can be turned into a parking lot. Seller has applied for approval to construct a 36 unit parking lot.
-This building has substantial structural and framing work that needs to be completed with the rehab. 6 units will require significantly more work than the other units and those 6 units have been vacant for 15 years.
-The building has a tuck under garage that has 4 concrete columns that have settled. The garage is attached to the apartment building and foundation and would need to be saw cut and demolished. If the garage is demolished a surface parking lot could be used in the courtyard.
-Boiler heat- 10 year old boiler in working condition.
-There is a 160 gallon water heater for the building with a circulation pump.
-There is a 2″” copper main water line that comes into the parking garage.
-Electric- Each unit has 60 amp panel in apartment, main meter & fuse panel in the basement.
-The building is vacant, 30 of 36 units were recently occupied and it was officially fully vacant in November 2019.
-Development has the potential to qualify for historic tax credits. The building is not currently on the register and would take approximately 6 months to be added to the historic registry.
-There is the potential to complete a mid grade renovation that would not involve a full gut rehab to all of the units, the building had 30 units occupied last year. With a mid grade update these units could potentially rent for $800 for the 1 beds and $1,000 for the two beds depending on updates.
-A complete gut rehab and update of the building is also an option with market rate rents for 1 bedrooms in Richmond Heights in the $950+ range depending on size and updates. Two bedrooms in Richmond Heights rent from $900-$1,700 depending on size and updates.
-There is the potential to convert to condos, condos in Richmond Heights have sold from $309,000-$330,000 in the last year.
– Also possible to consolidate the amount of units and create townhouse apartments or create large 2 and 3 bed 2 bath apartments by opening up the walls in side by side apartments.
Property sold as is.
Paying buyers agents 2.7%
Inquire by email for additional information.
Proof of funds or bank letter will be required prior to viewing.
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Take a look at this turnkey single family rental in the very desirable University City. Approved at $950/month with a tenant in place paying $459 and nearly all of the utilities. New air conditioning installed in the past year. This would be a solid addition to your portfolio for excellent cash flow.
Paying buyers agent 2.50%
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