Opportunity to purchase a well maintained 20 unit apt complex in St. Ann located across the street from Tiemeyer Park. The building located in a quiet neighborhood surrounded by single family homes is comprised of 16 one bed apts and 4 two bed apts with central AC and 25 parking spots. The building has had a number of recent capital improvements including exterior and interior electric updating throughout, a new retaining wall running the length of the property and updates to a number of the apts. Rents have been raised to as much as $675 for the 2 beds and $550 for the 1 beds so there is the ability to raise rents. With rents at $675 for the 2 beds and $550 for the 1 beds fully rented the building would generate $138,000 annually. There is only currently one vacancy while a unit is being rehabbed, there is a history of high occupancy rates. Projected income for 2019 is $130,000 with projected expenses at $32,680 for a net potential income of $97,320 which would be a 10% cap rate.

Paying buyers agents 2.00%

Beautiful renovation of a large 2 family located in The Grove, located just 2 blocks from all of the shops and restaurants on Manchester. This 2,494 square foot building features updated kitchens with granite counter tops and stainless steel appliances, refinished hardwood floors, central air. There is a back porch with a fenced backyard with off street parking. The second floor unit is currently rented for $1,175 a month, the first floor features 3 bedrooms and has a finished basement, the unit was previously rented for $1,400 a month and is currently vacant and would be ideal for an owner occupant. Fully rented this building could generate $2,575 a month and $30,900 annually. Expenses are low with taxes only $200 annually, total expenses are $4,188 a year for a potential net income of $26,712.

Expenses
Taxes – $200
Insurance – $900
Sewer – $1032
Water – $656
Maintenance – $1,000
Service Contracts – $400
Total – $4,188

Paying buyers agents 2.70%

Architecturally significant four family built in 1890 located in The Gate District close to Lafayette Park, St. Louis University Hospital, St. Louis University School of Medicine and Cardinal Glennon Hospital. This large 4,936 square foot building was recently rehabbed and features 1,200 square foot 2 bed 1 bath units with updated kitchens with new cabinets, counter tops, stainless steel appliances, renovated bathrooms, new flooring throughout, new back staircases on the rear of the building. Building had a new roof installed, new electric panels, new HVAC. Two units are currently rented, one for $1,200 and one for $1,150 with an application in process at $1,200.

Potential Rent Income with 3 units rented at $1,200 and 1 at $1150 is:
$4,750 Per month
$57,000 Annually
-6% Vacancy ($53,580)

Expenses
Taxes – $1,814
Insurance – $1,200
Sewer – $1,992
Water – $735
Maintenance & Repairs – $2,000
Service Contracts – $400
Total – $8,141

Potential net annual income of $45,439

Paying buyers agents 2.70%

Brick two family located in the Shaw neighborhood located 2 blocks from the Botanical Gardens and within walking distance to Tower Grove Park. The building has been used as a single family primary residence by a long time owner, was not used as a rental property. The highest and best use is conversion to a 4 bedroom 2 bath single family where similar sized single family homes within 1/3 mile have sold from $305,000-$385,000. Property is located in a historic tax credit district. Building is 2,100 Sq ft and features beautiful architectural mill-work and hardware throughout. Being sold as-is.

Comparable Single Family Homes:

4269 Castleman 63110

• .3 Miles Away
• 2,014 Sq Ft
• Sold For $305,000 4/3/18

4201 Flad 63110

• .01 Miles Away
• 1,750 Sq Ft
• Sold For $319,000 6/7/18

4056 Shenandoah 63110

• .01 Miles Away
• 2,024 Sq ft
• Sold For $385,000 11/13/18

Paying buyers agents 2.70%

Four family property for sale in Benton Park West. This property has four shotgun style 1 bedroom units, easily rentable at $500/month. All units are currently inhabitable, with 2 units currently occupied. Located between Cherokee Street and Grand Ave., this property has access to the shops, restaurants, and the night life to be found there. The solid building has updated windows, electric panels newer water heaters, and a PVC plumbing stack, so minimal system updates should be needed. Basement is dry throughout, laundry hookups in basement. 2 vacant units and basement available for showing. Two occupied units available with accepted contract. Please do not disturb tenants.

Well maintained and fully rented four family located in the Tower Grove South neighborhood. This 3,332 Sq ft building was built in 1926 and features four one bedroom units, all units have newer gas furnaces, recently replaced water heaters, recently updated electrical meter base with four 100 amp service panels. A new TPO roof was replaced in May of 2015 and there are some new vinyl windows throughout, there is a two car detached garage, new pvc plumbing, a privacy fence and dusk to dawn lighting. Gross rents are $1,900 a month and $22,800 a year with expenses at $5,535 annually creating a 14% cap rate. 3 of the 4 units are rented to long term tenants.

This is an 8-unit apartment building in the Mehlville school district. The 7800 sq. ft. all brick building was built in 1961. It is in a great high traffic location. The building has 6 large two bedroom and 1 bath units and 2 one bedroom and one-bath units. Each 2 bedroom unit rents for $600 a month, 5 of the 6 units have been recently updated. The two one-bedroom units have been vacant for a number of years and need a full rehab. There are 6 parking spaces located in the front of the property. There is forced heat and central air. The building has ceramic and hardwood flooring and thermal windows.

Paying buyers agents 2.50%

10973 Warwick Hall Dr is a multi-family home in Bridgeton, MO 63044. This 3,240 square foot multi-family home sits on a 9,374 square foot lot and features 8 bedrooms and 4 bathrooms. This property was built in 1960. Nearby schools include Holy Trinity Catholic School, Holy Trinity School and Traditional School. The closest grocery stores are E Z Pantry, La Tejana Tienda and Ruler Foods. Nearby coffee shops include Circle K, The Sweet Spot Cafe and Starbucks. Nearby restaurants include La Tejana Taqueria, Sunrise Family Restaurant and Steak ‘n Shake. This address can also be written as 10973 Warwick Hall Drive, Bridgeton, Missouri 63044.

This a 7311 sq ft all brick building built in 1927 with significant architectural appeal. There are 8 units with a private bedroom, refinished hardwood floors and large closets. Updates include newer forced air furnaces, newer thermal windows, and some new plumbing. The rents are currently at $445 a month and could be raised to $475 or $550 with some updates made. Income $40,584 Expenses Taxes $3,160 Insurance $2,226 Water/trash $3,172 Sewer $2,540 Repairs $3,826 Total $14,924  Net $25,660

Paying buyers agents 2.50%

This 17 unit building built in 1925 is located in the Central West End four blocks from St. Louis University with new construction homes being built on the block. The building has been operated as a weekly or monthly rental that comes fully furnished with utilities provided by the owner. 2017 income was $126,274 with annual expenses $66,535 for a net income of $59,739 a year with a cap rate of 17.8%. Priced under $20,000 per unit. The occupancy rate is usually around around 95%. The building has a boiler that was replaced in 2017, a new roof was also installed in 2017. There is individual electric for all of the units. There is a 3 car attached garage with storage area in the rear of the building. This building could be operated as it is currently or is or could be converted to long term or student housing. The furniture in the units is included in the sale and there are two vacant lots to the west of the building that could also be purchased and made into a parking lot.
3936 Cook Ave., 63113 (a 20 unit building approx half a mile away) is also available to be purchased separate or as a package.

Paying buyers agents 2.70%