Verda Vista Apartment Complex – 52 Units:

• 4 all brick buildings
• 28 one bedroom units renting at $415
• 24 two bedroom units renting at $500
• Rents are below market
• All electric
• Tenant pays for water
• Private sewer system
• Great rural location
• 6.25 Acres, room for growth
• Central air
• Individual furnaces

Rent Income:   $250,730

Laundry:          $2,544

Total Revenue: $253,274

Expenses:

Insurance          $9,900

Taxes                $15,677

Maintenance     $12,120

Sewer               $2,850

Electric             $5,912

Water                $999

Trash                $3,288

Total Expenses: $50,746

Net Income:      $202,528

Potential Rental Income:

1br x 28 at $465: $156,240

2br x 24 at $575: $165,600

Total Potential Rental Income: $321,840

Total Potential Net Income:  $271,094

This property can be purchased individually, or with the 18 Unit Cimarron Apartment Complex – see listing for Cimarron on our current listings.  Asking $2,700,000 for both properties.

Features:

• 8 Townhomes
• 2 all brick buildings
• 2 story 2 bedroom 11/2 bath
• Over 1200 sq ft of living space per unit
• Central air
• Forced heat
• Backs to a secluded wooded area
• Rents are $600, potentially $700
• Individual basements
• Washer and dryer hook ups
• 100% occupied
• Thermal windows
• Updated kitchen and bathes
• Ceramic tile
• Built  in 1970
• Individual decks

Annual Income       $58,140

Annual expenses

• Taxes              $5006
• insurance       $3870
• Sewer             $2844
• Electric           $300
• Trash/lawn      $2400
• Maintenance  $2890

Total                $17,310

Net                      $40,830     

Asking $425,000
2.7% Buyer’s agent commission

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Building is located at the corner of Tamm and West Park, just four blocks from Forest Park and the Saint Louis Zoo.

• These apartments are in good condition and feature four 2bed/2bath townhouse style units each with their own separate basement with washer/dryer hookup.
• Each unit has a dedicated off street parking spot and there is an additional vacant lot adjacent to the building that is included in the sale.
• Built in 1984, the building features updated electric and plumbing, central air, vinyl windows and there is a private back porch for each unit.
• The building is currently rented for $995, $995,$950 & $895 for a total of $3,835 a month and $46,020 annually.
• The lower rents are due to longer term tenants, with all units rented at $995 the building would generate $3,980 a month and $47,760 a year.
• This building is an ideal for an owner occupant who could potentially live in one unit and have the other units cover the mortgage and expenses.

2015 Expenses:

Maintenance: $560
Repairs: $3,485
Gas: $197
Electricity: $45
Sewer: $2,280
Water: $1,755.84
Insurance: $3,595
————————-

Total Expenses: $11,917

2015 Net Income: $29,801

2016 Net Income  $34,103

(Based off of current rents and expenses)

Priced at a 7.9% Cap Rate

Asking $429,000

Paying buyer agents 2.7%

-This Four Family has great curb appeal and is located within walking distance to Forest Park, Barnes Hospital, The Central West End and is one mile from St. Louis University.
-This building has been recently renovated and features updated kitchens with new stainless steel appliances including dishwashers.
-Other features include new systems including furnaces, pvc plumbing, vinyl windows and updated electric.
-Building has new flooring, paint, lighting, a two story back deck with fenced back yard and off street parking in the rear of the building.
-Market rent for these units are $725
-One unit just recently rented for $725, two other units are rented to long term tenants for $635 and $520.
-With all units rented at $725 the building would generate $2,900 a month and $34,800 annually.
-This building would be ideal for an owner occupant who could live in one unit and have the other units pay for the mortgage.

Expenses

Taxes                     $671

Insurance               $2,217

Sewer                    $859

Water/Trash           $937

Total                       $4,684

Asking $265,000.00

Paying Buyers Agent 2.7%

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Features:

• This 4200+ sq. ft. building features updated 2 bedroom units with over 1000 sq. ft. units with central air, separate living room and dining room.
• Located a short walk from Heman Park, Pool and Rec Center and close to Washington University and the U City Loop.
• Seller has recently put $65,000 in updates into the building including 2 brand new bathrooms, and 2 fully renovated kitchens.
• Kitchen renovations included new refrigerator, microwave, dishwasher, garbage disposal, lighting, cabinets, backsplash, sink.
• Apt 1E features renovated bathroom with new bath tub, toilet, vanity, sink, lighting, shower heads, and medicine cabinets.
• Apt 1W is the owners unit and features renovated bathroom with new rainfall dual showerhead shower, new bath tub, toilet, vanity, sink, lighting and art deco tile design.
• Building features 6 room units with hardwood floors throughout, a slate roof, 60 vinyl windows that were just replaced 6 years ago.
• Four new 40 gallon water heaters were recently installed.
• There is a 4 car detached garage with parking and separate private storage for each unit. This would be perfect for an investor or an owner occupant.
• An owner occupant could possibly live in one unit and have the other three tenants cover the mortgage and expenses.
• Building is currently 100% occupied, the owner lives in one unit and the other units are rented at $775,$750,$750 for a total of $2,250 a month and $27,300 a year.
• Owners unit would rent for $800 a month, fully rented this building could potentially gross $36,600 a year and operate at a 8% return after expenses.

Rental Income: $27,300

Expenses:

Taxes                   $5,100
Insurance           $3,000
Maintenance      $250
Water/Trash      $1050
Electric                $200

Total                  $9,600

Net Income     $17,700

Asking $335,000

2.7% Buyer’s agent commission

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Features:

• 9 one-bedroom units
• Rents are $475
• New roof
• New HVAC
• New electrical panels
• New thermal windows
• Updated kitchen and baths
• New concrete  poured parking lot

Income – $46,170

Expenses
Taxes – $3240
Insurance – $3800
Water/Trash – $2720
Electric – $324
Maintenance – $2440
MSD – $3840
Total – $16364

Net – $29,806

Asking Price – $275,000

2.7% Buyer’s Agent Commission

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Features:

• Quiet residential neighborhood
• Easy to operate and low maintenance required
• New roof in 2015
• Individually metered
• Forced heat and central air
• Hardwood and ceramic flooring
• Owner manages the property
• Nice floor plans
• Off street parking

Current Rents:

• 10 one-bedroom units currently $487, potentially $575
• 8 two-bedroom units currently $616, potentially $700
• 1 three-bedroom unit currently $825, potentially $900
• Occupancy rate is 94%
• Annual income $119,827

Expenses:

Taxes                   $7780
Insurance             $4432
Maintenance        $5720
Sewer                  $5880
Water/Trash        $6112

Total                    $29,824

Net Income         $90,003

Asking $875,000

2% Buyer’s agent commission

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Features

• Unique opportunity to purchase a historic 9000+ sq ft six family
• The building is surrounded by a large open space and is just a couple of blocks from Anheuser Busch Brewery & across the street from the Lemp Brewery.
• The 2007-2008 gut rehab included all new kitchens and baths, new HVAC, plumbing, electric, roof, drywall, windows, doors, sewer, water service, gutters, deck, etc…
• Three units were just recently underwent a cosmetic rehab.
• Building features hardwood floors and updated kitchens and baths throughout.
• There are a mix of large 1 and 2 bedroom units.
• Two bedroom units have a 2 story townhouse layout that would be great for an owner occupant and range from 1400-1650 sq ft.
• In unit washer dryer hookups
• The building is completely rented.
• The building grosses $4,090 monthly and $49,080 annually
• Net annual income after expenses are $27,384 which is a 9.78% Cap Rate

Unit Breakdown

• Apt 3546A- 2 bed 1650 sq ft townhouse unit rented, rents at $750

• Apt 3544A- 2 bed 1500 sq ft townhouse unit rented $820

• Apt 3542A- 2 bed 1400 sq ft townhouse unit rented $820

• Apt 3546- 1 bed 900 sq ft rented for $575

• Apt 3544- 1 bed 825 sq ft rented for $550

• Apt 3542- 1 bed 800 sq ft rented for $575

Total: $4,090 Monthly

$49,080 Annually

Expense Breakdown

Taxes – $2,096

Insurance – $2,200

Sewer – $1,000

Water/Trash – $1,400

Avg. Maintenance/Upkeep – $12,000

Management – $3,000

Total: $1,808 Monthly

$21,696 Annually

Asking Price – $285,000

Paying buyers agents 2.5%

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• Four fully rented studio apartments that have recently rehabbed/
• Apartments are rented for $400,$400,$375,$375 for a total of $1,550 a month and $18,600 annually.
• Building features updated electric, new water lines, new security doors, some new water heaters and furnaces are newer.
• Each unit has there own private storage in the basement.
• Building provides great cash flow with a cap rate of approximately 25%.

Asking Price – $54,900

Paying buyers agents 2.7%

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