Recently renovated two family located in Tower Grove South that would be ideal for an owner occupant or investor. This building features large 1,000 sq ft + units with updated kitchens with new cabinets, appliances, counter tops and tile flooring. The bathrooms have also recently been updated with new tile bath surrounds, flooring, vanity and lighting. Units feature beautiful hardwood floors throughout, units have been freshly painted, there is new lighting and new blinds throughout. The building was recently tuck-pointed, there is a new deck on the rear of the building, the furnaces were recently replaced, the electric was recently updated, there is PVC plumbing and newer water heaters. There is a clean and dry basement with washer dryer hookups, off-street parking and garage.

Paying buyers agents 2.70%

1,610 sq ft frame 2 family was one of the original farm houses in the area which is bordering Holly Hills neighborhood. The building is currently vacant, each unit is approximately 800 sq ft which needs rehab. If updated approximate rents for each unit would be around $750-$800 for a total of $1,500-$1600 a month and $18,000-$19,200 a year. This could also be converted to a single family home, similar sized homes within 1/4 mile have sold from $163,000 to $215,000.

Paying buyers agents 2.70%

2,648 Sq ft brick two family located in Benton Park West two blocks north of Cherokee Street. The building is vacant and currently setup as two 1,300 2 bed 1 bath units. Building has a lot of original hardwood and character. Needs updating, the highest and best use would be to convert to a 4 bedroom 2 bath single family home. An almost identical building that was converted to a single family and renovated two doors down at 2918 Wyoming recently sold for $253,550. If left as a two family and updated these units could rent for $1,000+ a month for each unit.

Paying buyers agents 2.70%

56 Unit apt complex located on 1.8 acres across the street from Home Heights Park and minutes from downtown Clayton and the airport. Comprised of 10 brick buildings with pitched roofs & plenty of parking for the tenants. 24 two-bed & 32 one-bed apts. From August 2018 to July 2019 the property generated $363,261 with a net income of $230,129. Current occupancy is at 98%. There have been updates to many of the units including updated kitchen cabinets, flooring, double pane windows, etc. Other recent capital improvements include emergency fire escapes, welding, and PVC plumbing stack replacement.

Paying buyers agents 2.00%

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%