(Sold) Tired of running all over town while managing your rental portfolio?  Here is an incredible opportunity to own FIVE cash flowing duplexes in University City all located right next to one another.  This package includes (8) 2 bed/1 bath units (avg rent $715) and (2) 3 bed/1.5 bath units (avg rent $775).  Total yearly gross income is over $84,000 with room to grow.   Fully rehabbed 2 and 3 BR units on the street are currently renting for $995.

Located less than a mile from Clayton, these 2 story all brick masonry buildings are low maintenance and have been actively maintained by the current owner.  Each duplex offers central air, hardwood floors, an underground 2 car garage, and updated amenities.   All buildings have clean and dry basements with W/D hookups.  Given their central location, these units are easy to rent and have many long term tenants.

Sale includes 7715, 7716, 7720, 7728, and 7734 Wild Plum Ave.    Please do not disturb tenants as they are unaware of the sale.

John Cotsworth | Agent
314.479.3355 | john@investstl.com

Invest St. Louis
Office: 314.479.3355 / Fax: 314.480.7053
6201 Arsenal St. Louis Mo 63139

-Opportunity to rehab a historic home built in 1890 in Soulard.

-This home is a 3 story row house that is approximately 2300 sq ft with 4 beds and 2 full baths.

-This 9 room home has a nice layout with high ceilings, hardwood floors, original woodwork and trim, large original windows on a quiet street.

-This  home qualifies for federal and state historic tax credits up to 45% of the renovation costs.

-Renovation costs to completely renovate the home are approximately $115,000.

-Similar sized row houses close by in Soulard have recently sold for $440,000, $407,000, $396,000. (see photos and description of comparable home sales below).

-Potential equity/profit of $122,000 after rehab based off of lowest comparable sale along with potential tax credits of up to $51,750 based on $115,000 renovation cost for a total of $173,750.

Asking $137,500  Paying Buyers Agent 2.7%

Comparables:

-1925 S 10th St Louis, Mo 63104

2,000 Sq Ft home sold 9/30/16 for $440,000 ($220 ft)

-2342 S 12th St Louis Mo 63104

2,210 Sq Ft home sold 7/01/16 for $407,250 ($183 ft)

-1923 S 10th St Louis, Mo 63104

1,792 Sq Ft home sold for $396,000 ($220ft)

This 7 building, 62-unit apartment complex features:

• Large maintenance and storage shed
• In ground pool
• Playground area
• Common laundry area
• 100% Occupied with a waiting list

Tenants with 2-3 year lease agreements

• Private sewer system
• All electric

Income                                    $443,160

Expenses  

Real Estate Taxes                      $  24,100

Insurance                                  $  13,400

Maintenance and Repairs           $  43,000

Management                             $  30,000

Water                                       $    7,440

Trash                                        $    3,600

Electric                                     $  13,000

Sewer                                       $    5,100

Total                                         $139,640

Net                                           $303,520

Tenants with 2-3 year lease agreements

• Private sewer system
• All electric

This 3,340 sq ft four family is located in The Grove overlooking the Urban Chestnut Brewery and an 11 million dollar mixed use project with 60 apartments that is under construction at 4400 Manchester. The building could be converted to 2 townhouses that are each approximately 1670 sq ft, a nearby 1,122 sq ft townhouse just sold for $174,000. This could also be left as a 4 family with an after repair value of $250,000+. Property needs full rehab, sold as is.

Paying buyers agents 2.7%

Opportunity to purchase a home in a great location in the Clayton school district and walking distance to Oak Knoll Park.

-This 3 bed 1 bath 1,360 sq ft home would make a great starter home, rental property or cosmetic rehab project.  The approximate value for the home after updating and cosmetic renovations is $275,000+

-Home has newer furnace, updated electric and plumbing and would only need minor work to have it pass occupancy.

-Home is in good structural condition, has all of the original woodwork and is located on a large lot which is .181 acre.

Price $169,000

Paying buyers agents 2.7%

“][mappress mapid=”183”]This 2,450 sq ft Clifton Heights two family was fully rehabbed in 2014. Renovation included new kitchens with custom cabinets including islands and stainless steel appliances. The renovation also included new bathrooms with subway tile, refinished hardwood floors, new plumbing, electric, roof, central air, furnaces, water heaters, windows were replaced or restored, and new two story deck on rear of building. There is a fenced backyard with garage. There is a 3 bedroom unit on the second floor that rents for $1,100 a month and a 2 bedroom unit that just became vacant that rented for $950 with each unit over 1200 sq ft. Property would be ideal for an owner occupant who could have most of the mortgage paid for by the tenant. Walk-able to Clifton Park and many restaurants, easy access to both highway 44 and 40.   

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