Property Overview: This fully leased four-family building in Affton features all 2-bedroom, 1-bath units, generating a total monthly rental income of $3,875, or $46,500 annually. Relative to four families further in the city, multi-family buildings in this area are young with brick in great condition, as well as an A-frame pitched roof with shingles for low maintenance and extended life. The neighborhood is quiet & low-key, with well kept landscaping throughout.

Unit Features: Each unit is 832 square feet, with a combined building square footage of 3,328. The lower-level units have hardwood flooring, while the upper units are carpeted. All units include modern upgrades such as granite countertops, stainless steel appliances, and cherrywood-finished cabinetry – “A” level finishes relative to the area. This should allow for top level market rate rents for the foreseeable future without making any major upgrades.

Utilities & Appliances: The building is equipped with central heating (gas forced air) and electric condensers for cooling. No systems are ancient and all are in good working order. All windows are upgraded to durable vinyl.

Tenant Amenities: Community laundry is available in the basement for tenant use. Additionally, the property offers two 2-car garages with power doors, alongside on-street parking options.

Video Walkthrough of Common Areas and Exterior: https://youtu.be/tQt16gfZTDw

Link to a Google Drive folder with Disclosures, Rental Verification, Leases, and Other Supplemental Documents: bit.ly/9546HydeParkSupp

Complete 3D Scan / Virtual Tour of Unit B: https://my.matterport.com/show/?m=tmc59okZEz2

Prime investment opportunity with strong rental demand and potential for increased income.

• Meticulously maintained property situated in the vibrant Tower Grove South neighborhood.
• The property is located within walking distance to Tower Grove Park, Botanical Gardens, numerous restaurants, shops, and nightlife on Morganford.

Property Overview:

• This property is made up of three tax parcels consisting of each building and the parking lot.
• Two side-by-side 10-unit brick buildings, built in 1965.
• The total above grade square footage is 10,852 with a total leasable area of 11,136 sq ft.
• 1-bedroom apartments, all above grade units are 543 sq ft and all below grade units are 612 sq ft.
• The buildings are configured with four units per floor with eight above grade units in each building.
• Easy-to-rent and maintain units with low turnover.

Building Features:

• Each building has 3 levels.
• On-site laundry facilities in both buildings (coin-operated washers and dryers).
• Private storage for tenants and a large storage room for supplies.
• Maintenance shop in the basement with slop sink and shelving.
• Copper and PVC stacks for plumbing.
• Baseboard heating and hotel-style cooling units which keep costs and maintenance low.
• Pitched roofs, with exterior doors featuring key code access.
• Security cameras installed for enhanced safety.
• Ample tenant parking at the rear of the property.

Unit Upgrades:

All units have received significant updates:

• Appliances: Stove, fridge, and garbage disposals were replaced.
• New interior and exterior doors were installed.
• Refinished hardwood and laminate floors.
• New vanities, countertops, and medicine cabinets in all units were added.
• Six units feature new cabinets and bathtubs.
• Units 3537-09 and 3541-10 now have private washer and dryer laundry hook-ups added.

Full Renovations (Units 3537-09, 3537-10, and 3541-09):

• Renovations included new front doors.
• Updated plumbing and electrical.
• Renovations also included new windows, floors, and walk-in closets.
• Brand-new kitchen and bathroom in Unit 3541-10.

Building Improvements:

• New front entry doors with secure coded access.
• Public halls and stairs carpeted (May 2021).
• Federal Pacific electrical panels replaced with Murray panels in 2015.
• Asphalt resealed and restriped (2013, 2021, and July 2023).
• Quarter-turn shut-offs at all sinks and toilets.
• Icemaker hookups added for refrigerators.

Plumbing & Safety Features:

• Roofs replaced in September 2011 (25-year architectural shingles).
• Water shut-offs updated in 2023 (main and basement access for each unit).
• Sixteen new security cameras installed in 2023 (long-distance viewing, 2+ week backup).
• Fire extinguishers, exit lighting, and railings installed for safety and insurance compliance.

Potential Rent Increases:

• Current rents are below market rent for nearby apartments, current average rent is $725.
• Average market rent for similar sized 1-bedroom apartments in the area range from $895 – $1,050.
• There is an additional opportunity for rent increases with minor cosmetic updates.

Additional Features:

• Smart lock key system on all deadbolts for enhanced security.
• New larger satin nickel mailboxes, including office mailboxes in hallways.
• 2024 improvements include new stair railings, updated flooring in 2 units, and new AC units.

Virtual Tours Available:

• 3541 Morganford – Unit 2: https://bit.ly/3541_Unit_2
• 3541 Morganford – Building Laundry Facilities and Storage: https://bit.ly/3541_Basement

The seller will be reviewing offers at 2 p.m. Friday, October 25th.

Updated brick duplex in South City’s Princeton Heights, just half a mile from Christy Park, offers two distinct units with lots of character.

• The first-floor unit has one large bedroom, a small bedroom/office, and a private deck. The upstairs unit features two large bedrooms and one bathroom.
• Both units include refinished hardwood floors, central air and heat, new vinyl windows (2020), original stain glass windows, and walk-in closets with French doors.
• The property sits on a large corner lot including a fenced-in backyard and a 21×19 detached garage.
• Tenants have access to basement laundry facilities.
• The duplex generates $25,800 annually, with the first-floor unit renting for $1,050/month (lease ends 12/31/24) and the upstairs unit at $1,100/month (lease ends 3/31/25).
• This combination of modern updates and steady rental income makes it an appealing investment.

Paying buyers agent 2.5%

Investment Summary:

1. Property Basics: 46-unit updated apartment complex built in 1960, with all 2-bedroom, 1-bathroom units.
2. Prime Location: Located close to major highways, with easy access to Lambert Airport and Downtown St. Louis.
3. Recent Updates: Newer windows, hardwood floors, and updated kitchens, many of which feature granite countertops.
4. Convenient Amenities: Separate laundry building with coin-operated washers and dryers for tenant use, as well as plenty of parking available.
5. Spacious Layout: Spread across 13 buildings, the complex offers approximately 27,930 square feet of building space and sits on a lot of approximately 74,331 square feet.
6. High Occupancy Rate: Currently 100% occupied, indicating strong demand and stability in the complex.

Paying buyers agent 1.25%.