Well maintained 4,400 sq ft four-family located in Tower Grove South a couple of blocks from the restaurants on Grand and a short walk to Tower Grove Park. This updated building features 1,000+ square foot units with large rooms, these are 1 bed units with a smaller 2nd room that could be used for a kids bedroom or office. Features include updated kitchen cabinets, decorative fireplaces, claw foot tubs in the bathroom. Building has updated HVAC, updated electric panels, PVC stacks, separate storage lockers in the basement for the tenants and a privacy fence in the backyard. The apartments are rented for $720, $675, $550 and there is one vacant that was previously rented for $675. If you include what the previous tenant was paying in rent the total monthly rental income would be $2,620 a month and $31,440 over an annual basis. If you raised all rents to $720 the monthly income would be $2,880 and $34,560 annually. Great for either an owner occupant or investor. Showings to start Friday October 9th.

Paying buyer’s agents 2.5%

Opportunity to purchase a two family in the Central West End across the street from the Cortex and walkable to Barnes Jewish Hospital, Siteman Cancer Center, St. Louis School Of Pharmacy and Forest Park.

This 3,332 square foot building built in 1904 has two large townhouse units, one unit has 3 bedrooms with 1.75 baths with hardwood floors, updated kitchen with granite countertops, breakfast bar and some never used stainless steel appliances, in-unit laundry. There is a large open 2 story window in the living room and an additional space on the second floor that could be used as an office. The other unit is 2 bedrooms and 1.5 baths and has updated cabinets, a combination of tile, hardwood and carpet, in-unit laundry. The basement is set up where each townhouse unit has its own separate basement.

This building has many updates with vinyl windows, the furnaces were replaced, PVC stacks and some updated plumbing, updated electric panels. There is a detached garage and there is a two story deck on the rear of the building. Similar size apartments in the area rent for $1400-$1980 depending on updates and amenities. This would also be ideal for an owner occupant who could live in one unit and rent the other out. This building does need work and is being sold as-is by an estate. The seller has no information to provide regarding the condition of the property.

Apartments For Rent Nearby:

4319 Lindell 63108 2 Bed 2 Bath 1,000 Sq. Ft. $1,400

3902 Lindell 63108 3 Bed 1 Bath 1,200 Sq Ft. $1,695

4040 Laclede 63108 3 Bed 1 Bath $1,695

4534 Olive 63108 2 Bed 2 Bath 1,400 Sq Ft. $1,799

226 N. Boyle 63108 63108 2 Bed 2 Bath 1,602 Sq Ft. $1,980

3939 West Pine 63108 3 Bed 2 Bath 1,399 Sq Ft. $2,325

This is 18 total condos for sale. All units are occupied. They are all 3 Bedroom, 2 & 1/2bath, all electric, some with finished basements. 6 of the 9 buildings on the property have new siding in the last 3 years and the last 3 are scheduled to be sided next year. The tenants pay electric and water. The owner pays the sewer bill. They are individually metered so future residents could pay for sewer. Washer and dryer hookups in all units, PVC plumbing, circuit breakers, central air, dishwashers, fireplace, private balconies, patios, decks and covered parking. Other units in this complex are renting between $1200‐$1300 a month.

The seller is a licensed real estate broker in Missouri.

Updated 24 unit apartment complex located in Shaw across the street from Tower Grove Park and walking distance to the Botanical Gardens. This meticulously maintained turn key building has 8 two beds that are 800 sq ft, 4 large one beds that are 800 sq ft and 12 one beds that are 700 sq ft. Building features updated kitchens with newer cabinets and breakfast bar, stainless steel appliances, bathrooms have been updated, there are hardwood floors, on site laundry, off street parking, storage lockers for the tenants, central air and forced air heat. The gross income for the building after 5% vacancy is $222,220 with expenses of $57,164 for a net income of $165,056. Buildings like this rarely become available for sale.

Two 12 unit side by side buildings for a total of 24 units located in the heart of Maplewood within walking distance to all of the restaurants and shops on Manchester. Close to Washington University, Webster University, Downtown Clayton, highway 40 and 44 and the metro link. These buildings were completely renovated 8 years ago and have updated 1 bedroom and studio apartments that range from 525-625 sq ft. Rents range from $550 to $685 and there is the potential to raise rents on the apartments as is. Apartments feature new bathrooms, updated kitchens with updated cabinets and some with granite counter tops, there are walk in closets, new plumbing and electrical, beautiful refinished hardwood floors, ceiling fans, all electric except for gas stove. Windows are in the process of being completely replaced throughout both buildings, there are storage lockers, on site laundry. There are 3 public parking lots close to the building. The building grosses $14,865 a month and $178,380 annually with expenses of $54,788 creating a net income of $123,592. The apartments are almost always full and are easy to rent. Buildings are deeded as one property.

Well maintained 12 unit apartment building. This building has 8 1-bedroom units and 4 studio units. Roof was replaced in 2017. This property has off-street parking, beautiful hardwood and ceramic flooring. There is forced air heat all units and 8 units have central air. This south city property is an excellent investment property.

Check out this updated turn-key fully rented four family in South Hampton. Building features units with hardwood floors, updated kitchens with dishwashers, completely updated bathrooms with updated title, shower system, vanity, floors. The building has central air throughout, there are newer condensers, vinyl windows, newer furnaces, PVC stacks, updated electric, private storage for tenants, washer dryer hookups for all tenants. There is a built in barbecue pit in the back yard and off street parking spots for all of the tenants. The units are rented for $775, $775, $700, $700. The building generates $2,950 a month for an annual total of $35,400, annual expenses are $7,458. There are two long term tenants of 4 and 5 years, apartments are due for a rent increase. This building has been meticulously maintained and would be a great low maintenance building for any investor or owner occupant.

Paying buyers agents 2.7%

Fantastic opportunity to purchase a turn-key four family located in the North Hampton neighborhood. This building was updated throughout featuring kitchens with updated cabinets, breakfast bar, dishwasher, microwave, stove, fridge, backsplash, tile flooring, USB charging ports. Bathrooms are updated throughout with new tile, new vanity, shower system. There is a bonus room off of the back bedroom that has electric that is ideal for a kids room or office. The units have central air conditioning, stained glass windows, there are original hardwood floors, new lighting and fans throughout. The building has off street parking, washer dryer hookups for the tenants in the basement. The electric has been updated, there is pvc plumbing and newer condensers. The building is currently fully rented at $3,387 a month which is $40,644 annually if fully rented with annual expenses at $8,247 creating a potential net income of $32,397 a year which is an 8.1% cap rate. Showing units only with an accepted contract.

Rents:

$800 (plus additional $12.00 washer rental for a total of $812) Lease through 3/3/2021

$850 Lease through 8/31/2020

$850 (plus additional $25 pet fee and $25 washer/dryer rental for a total of $900) Lease through 7/15/2020

$825 Month to month

Expenses:

Real Estate Taxes – $2,349.22

Insurance – $1,242.50

Sewer – $1,664.45

Water – $1,490.20

Maintenance – $1,500

Tenants pay Gas & Electric.

-Rare wholesale rehab apartment complex in Richmond Heights for sale a few blocks from Clayton, Forest Park, St. Marys Hospital.
-1930’s vintage building is approximately 33,600 square feet with a 21,344 square foot lot.
-This 36 unit apartment complex is comprised of 24 one bedrooms and 12 two bedroom units. This is a great Value Add opportunity for an experienced developer.
-The building is being offered for $450,000 which is $12,500 a unit. -The building can be purchased with a house with a 1/4 acre lot located directly behind it at 1327 Sunset 63117 for $200,000 which can be turned into a parking lot. Seller has applied for approval to construct a 36 unit parking lot.
-This building has substantial structural and framing work that needs to be completed with the rehab. 6 units will require significantly more work than the other units and those 6 units have been vacant for 15 years.
-The building has a tuck under garage that has 4 concrete columns that have settled. The garage is attached to the apartment building and foundation and would need to be saw cut and demolished. If the garage is demolished a surface parking lot could be used in the courtyard.
-Boiler heat- 10 year old boiler in working condition.
-There is a 160 gallon water heater for the building with a circulation pump.
-There is a 2″” copper main water line that comes into the parking garage.
-Electric- Each unit has 60 amp panel in apartment, main meter & fuse panel in the basement.
-The building is vacant, 30 of 36 units were recently occupied and it was officially fully vacant in November 2019.
-Development has the potential to qualify for historic tax credits. The building is not currently on the register and would take approximately 6 months to be added to the historic registry.
-There is the potential to complete a mid grade renovation that would not involve a full gut rehab to all of the units, the building had 30 units occupied last year. With a mid grade update these units could potentially rent for $800 for the 1 beds and $1,000 for the two beds depending on updates.
-A complete gut rehab and update of the building is also an option with market rate rents for 1 bedrooms in Richmond Heights in the $950+ range depending on size and updates. Two bedrooms in Richmond Heights rent from $900-$1,700 depending on size and updates.
-There is the potential to convert to condos, condos in Richmond Heights have sold from $309,000-$330,000 in the last year.
– Also possible to consolidate the amount of units and create townhouse apartments or create large 2 and 3 bed 2 bath apartments by opening up the walls in side by side apartments.

Property sold as is.
Paying buyers agents 2.7%
Inquire by email for additional information.
Proof of funds or bank letter will be required prior to viewing.

Four family featuring 2 bedroom units, new furnaces/ water heaters, and central AC. The units are fully occupied at $2150/month, this property is an easy addition to your portfolio as-is. With moderate updates, rent could be increased to enhance the already excellent 10% Cap Rate.

Paying buyers agents 2.50%