This apartment building is comprised of 8 one-bedroom units. The rents are $475 each. It is 8400 sq. ft. with an additional 2800 sq. ft. of basement. It was built in 1963. 100% occupied great cash-flowing investment property located in a convenient area for transportation. Coin-operated laundry for additional income. The tenants have access to storage units in the basement. The property is all electric and has updated thermal windows, forced heat and central air in 2 of the units, the other 6 units have hotel style heat and air, hardwood floors, circuit breakers, copper plumbing, and the leases are month to month.

Outstanding opportunity to purchase a well maintained 20 unit apartment complex located on a quiet street in the Princeton Heights neighborhood. Built in 1966 this building has many upgrades including a recently replaced TPO fully adhered roof, 2 recently updated units, updated vinyl windows, all units have central air with 8 newer condensers, some newer furnaces, exterior paint, etc. There is potential to raise rents and add value with additional cosmetic updates to the units. There are 12 one-bedroom units and 8 two-bedroom units. The updated 2 bedroom unit is currently being marketed at $735 and the 1 bedroom at $565. 2 bedrooms in the area rent from $600-$800 with 1 bedrooms renting from $500-$700 depending on updates and size. Building features off-street parking, storage units in the basement for tenants, there are washer and dryer hookups and potential to add additional income with laundry in the basement. The 2019 rental income was $121,113. Inquire for more detailed financial information.

Closest Sale Comparable
6265 Gravois St. Louis, Mo. 63116- Located .2 miles away.
16 units- 14 one bedrooms and 2 two bedrooms.
Sold 7/31/19 for $860,000 ($53,750 a unit)
Gross Rent $90,853
Expenses $47,818 (with taxes of $12,996 and insurance of $10,893 included)
Net income $43,035

One and two bedroom units renting in the area
4955 Eichelberger 63109, 1 bedroom units with recently updated kitchens, baths, appliances, rented at $650, $675
5617 S. Kingshighway 63109, 1 bedroom rented for $760, 2 bedroom for $780
5454 Rosa 63109, 1 bed rented for $795 and $625

Stunning six family built in 1929 located in the Moorlands located just a few blocks from downtown Clayton. Three of the six units were recently completely gutted in this 8,000 square foot building and reconfigured to have nice open floor plans with very large bedrooms and closets. These 2 bedroom 1,000 square foot units were fully dry-walled, all exterior walls are insulated for efficiency, there are new energy efficient windows, interior dividing walls insulated for sound, custom kitchen cabinets with soft close drawers and doors, quartz counter tops with seating at the peninsula bar, stainless steel appliances, gas stove, custom walk-in closet in the master bed room, in unit laundry, linen closet, large bathroom with custom vanity, quartz vanity top, walk in shower, frame-less shower glass, all new shaker style interior doors, new trim work throughout, hardwood floors, new copper wiring, new plumbing, recessed lighting, large outside patio. There is a garage with 5 parking spots.

The updated units are currently rented for $1,695 and $1,650. The units were rented during construction and there was a discount given for a 2 year lease which accounts for the lower rent amounts. There is currently nothing being charged for the garage parking spaces. There is a lot of upside and potential with these units as units could potentially rent for $1,695 if all updated as the first 3 are updated with a potential gross annual income of $115,938 with 5% vacancy. Completing very minor updates to the 3 units that are not updated could generate rents of $1,200 a month per unit.

7515 Cromwell 63105 which is located close by in the Moorlands sold for $250,000 a unit with rents at $1,600 with more basic units that are not as updated as 7537 Buckingham.

Market Value Of Units

1E $275,000

2E $275,000

3E $275,000

1W $175,000

2W $175,000

3W $175,000

Paying buyers agents 2%

Ranch style 4-family in Bevo Mill, 2 Bedrooms, 1 Bath each unit. These units are laid out for a simple investment. The building is on a cul de sac in a quiet corner of Bevo Mill. Total rents are $2,050 a month and $24,600 annually. Expenses are $6,803 for an annual net income of $17,797. Professionally managed by DECA Realty(8%). 2 of the 4 units are updated and rented out at $575, Rentometer suggests this may be a bit low, 2 bedrooms close by are renting for $650+. 2 of the 4 units are rented out at $450. Estimates for updating these units to the $575 price point is $8-10K, a 15-18% return on investment. Currently operating at a 10.6% Cap Rate. Showings with 1/4 units and basement, other units with contract.

Fantastic opportunity to own this large brick 2-family currently occupied by tenants located in south St. Louis. There are 2 bedrooms in each unit with hardwood floors and central air, updated electric and plumbing, brand new roof in August 2019. The unfinished lower level boasts laundry and a walk-out. Near the Gravois Park neighborhood, parks, grocery stores, hospitals, and public transportation. Great neighborhood and must see! Property to be sold as-is.

Paying buyers agents 2.7%

South city living at its finest! Great investment opportunity in South St. Louis just minutes from Cherokee Street. Excellent opportunity for first time investors, with seller willing to manage property for first 6-12 months if requested. Large 2,640 sq ft brick two family home with two bedrooms one bathroom on first level and three bedrooms one bathroom on second level. Both units are occupied generating $1,000/month per unit. Electric, HVAC, plumbing, roof, and flooring done in 2006 with additional updates to the kitchens and bathrooms as well. Access to the backyard and basement in both units, with potential for covered parking in rear.

Paying buyers agents 2.70%

Great investment opportunity in Benton Park West located a few blocks from all of the shops and restaurants on south Grand. Large 2,450 sq ft brick two family with spacious 5 room 2 bedroom units. These units are both on leases rented at $750 and $720 a month for a monthly total of $1,470 a month and $17,460 a year. Roof was replaced in 2015, newer 6 inch gutters, sewer lateral was replaced in 2014. Building features non functional fireplace, built in bookshelves, french doors, tile and carpet flooring, a covered front porch, 2 story back porch and parking pad in the backyard.

Paying buyers agents 2.7%