Opportunity to purchase a portfolio of 18 three and four bedroom single family homes located within a 4 mile radius in a suburban location in St. Louis County. These homes have been well maintained with a mix of section 8 and market rate tenants who pay their own gas and electric. With an 88% occupancy rate these homes would generate $158,400 annually and provide a normalized NOI of $79,229, an 11.3% Capitalization Rate.
ONLY OFFERS ON ENTIRE PORTFOLIO WILL BE CONSIDERED AT THIS TIME. PLEASE NO OFFERS ON SINGLE PROPERTIES.
Photos in this listing are of selected portfolio properties. Photos of all properties will be sent in marketing brochure upon request.
All properties lie within an approximate 4 mile radius of one another. Adjusting for outlying properties, 15 of 18 properties are within an approximate 2 mile radius of one another. See area map below.
Contact:
Jordan Schoen – 314.255.5117 – jordan@investstl.com
William Springer – 314.817.6620 – will@investstl.com
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This centrally located single family home is walking distance to the Maplewood business district, close to Forest Park and highway 44 & 40. The home has 4 rooms and large fenced backyard. Features include central air with newer condenser, updated electric, pvc plumbing, and a newer furnace. Home needs cosmetic updates including updated bath and kitchen, paint, flooring. Recent comparable sales of similar sized frame homes within a half mile have sold from $82,000-$98,000.
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Home Features Stained Glass Windows, Fireplace & Hardwood Floors
Located On A Shady Tree Lined Street With Garage
There Is An Enclosed Porch On Rear of Home
Large Clean and Dry Basement With A Bar and High Ceilings That Could Easily Be Finished.
Home Features Central Air and Has Two Bedrooms on The Second Floor
Furnace and Water Heater Are Newer
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Complete Rehab including
New kitchen with custom cabinets, granite counter tops, new stainless steel appliances
2 New bathrooms
Refinished hardwood floors
New dual zoned HVAC
New Plumbing with new sewer lateral
New Electrical
All new windows
Recessed lighting
New deck on back of the home
Entire home was repainted
Open floor-plan
2nd floor laundry
Large clean and dry basement with plenty of room for storage
1 Bedroom has attached living/work space
Jordan Schoen is a Licensed Broker in the State of Missouri
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