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

[mappress mapid=”162″]

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%

[mappress mapid=”160″]

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

[mappress mapid=”158″]

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

[mappress mapid=”156″]

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

[mappress mapid=”155″]

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%

[mappress mapid=”153″]

• 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%

[mappress mapid=”152″]

This property is located in a neighborhood undergoing a transformation, with many new single family homes being built nearby. There are also many buildings currently undergoing complete renovation along with new businesses and restaurants opening in the neighborhood. Located within walking distance to the Botanical Gardens and Tower Grove Park. Property would make a great investment or is ideal for an owner occupant.

4217 Blaine

Originally a 4 family that was converted to a 3 family with 2 units on the top floor being converted to one large 3 bedroom 2 bath unit. This fully rented building features hardwood floors, updated vinyl windows, updated kitchen and baths with ceramic tile, and window AC units. The plumbing and electric have been updated and there is a fenced back yard and off street parking.

Annual Expenses and Income:

Expenses
Taxes: $578.00
Insurance: $550.00
Sewer: $1318.20
Water + Trash: $1162.04
———————————
Total: $3,608.24

Rents
1E: $440/mo (month to month)
1W: $475/mo (month to month)
2nd Fl: $850/mo (month to month)
———————————
Gross Monthly: $1,765.00
Gross Annual: $21,180.00

Net Income: $17,571.76

Asking $150,000
Paying Buyer’s Agents 2.7%

[mappress mapid=”151″]