-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.   

[mappress mapid[mappress mapid=”184″]=”183″]

This is a portfolio of 38 units in North City, Saint Louis, perfect for an investor looking for buildings that are fully rented with reliable tenants, and a reliable stream of income.  The current owner has put an incredible amount of work into each of the buildings, and the pride of ownership shows.

Properties currently generate $19,550 monthly gross rent, $234,600 annually, with $49,195 annual expenses.  That translates to $185,405 net income.  Properties can be purchased as a package for $1,025,000, an 18% Cap Rate, or individually as listed below:

1) 1292-1298 Hamilton Ave 63112 (12 Family) and 5882 Page Ave 63112 (4 Family)

Owner would prefer these two properties be sold together.  A great example of the pride of ownership current owner has taken in these properties, these two buildings are in wonderful condition.  Shared lot has private, well-lit, fenced-in parking with approximately 12 parking spots.

The 12 family Hamilton building boasts 2 br units, with hardwood floors and updated kitchen/baths, thermal windows with three window units. Updated electric with modern breaker boxes.  Basement is clean and dry, with private storage area for each unit and private washer/dryer units, and individual furnaces. Roof is approximately 7 years old in good condition.  6 of the 12 units have dining rooms.

The 4 family Page building has 1 br units with dining rooms, high gloss tile flooring, thermal windows and window unit.  Updated electric with modern breaker boxes.  Basement is clean and dry, with private storage area for each unit and private washer/dryer units. Roof is approximately 10 years old in good condition.

Income and Expenses:

Monthly Rents:

Hamilton: 11@$550 = $6050

1@$600 = $600

Page:         1@$475 = $475

1@$500 = $500

2@$550 = $1100
—————————————-
Total Monthly Rents: $8725

Annual Rents: $104,700

Annual Expenses:

Water      $2148
Sewer      $4164
Lighting   $1356
Maintenance: $3600
Trash:     $1980
Taxes:    $3570
Insurance $4741
————————————
Total Annual Expenses:  $21,559

Net Income:  $83,141

Cap Rate: 15%

Asking $550,000

2) Goodfellow Complex – This 20 1 br unit complex is comprised of the following buildings:

• 2742 Goodfellow (4 Family)
• 2748 Goodfellow (4 Family)
• 2752 Goodfellow (4 Family)
• 5758 Terry Ave (4 Family)
• 5762 Terry Ave (4 Family)

Current owner has kept the buildings in immaculate condition.  Each 1 br unit has high gloss tile flooring, and updated kitchen and bath, thermal tilt-in windows with window units, and private balcony area.  Building improvements include approximately five year old rubberized roof, updated plumbing with PVC to main, copper water lines, updated electric with modern breaker boxes,  own water heaters.  Basement is clean and dry, with recent tuck-pointing, and private, walled off storage areas for each unit with personal washer/dryer units in each.  Owner recently added new glass brick  windows around perimeter of building,   There is private, well-lit, gated parking in the back with approximately 15 parking spots.

Income and Expenses:

Monthly Rents: $9,635

Annual Rents:  $115,620

Annual Expenses:
Water      $3,900
Sewer      $6,384
Lighting   $1,092
Maintenance: $4,320
Trash:     $2,112
Taxes:    $1,875
Insurance $4,770
————————————
Total Annual Expenses:  $24,453

Net Income:  $91,167

Cap Rate: 19.4%

Asking $475,000

3) 5928 Plymouth 63112 (Duplex)

Well maintained, cash-generating duplex.  First floor is a spacious 1 br unit renting at $550.  Second floor is 2 br unit renting at $640.  Basement is clean and dry, with private storage areas and private w/d for each unit.

Income and Expenses:

Monthly Rentals: 1 br @ $550, 2 br @ $640 = $1190 monthly

Annual Rentals: $14280

Annual Expenses:
Water      $408
Sewer      $792
Maintenance: $600
Trash:     $264
Taxes:    $414
Insurance $705
————————————
Total Annual Expenses:  $3183

Net Income:  $11097

Cap Rate: 14.8%

Asking $75,000

Please call listing agent to set up any showings.  Allow 24 hours notice to show.  Please do not disturb tenants.

Detailed financial breakdown available upon request.