Opportunity to purchase a value-add historic brick home in The Grove, located 1 block from Forest Park, within walking distance to Barnes Jewish Hospital, Washington University Medical Center, St. Louis Children’s Hospital, and the Siteman Cancer Center.
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Investment Summary
Located within walking distance to Forest Park, Washington University North Campus, and The Loop, the building sits on a street with newer construction multi-family and single-family homes. One block from the recently renovated $100M Delmar Divine project, which includes apartments, national and local not-for-profits, and a café. Located two blocks from a recent $50M Delmar Trolley line that runs from The Loop to Forest Park and $1M+ homes on Washington Terrace.
2016 – 2018 Renovations Include:
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Welcome to this turn-key investment opportunity! This fully-renovated, two-unit property is 100% occupied and cash flowing on day 1. The property is fully stabilized with two long-term tenants (5+ years and 3+ years) at rents of $805/month and $865/month with tenants paying utilities directly (units are individually metered). With lease roll-overs in January and August 2024, and market rents for similar units at $1,039/month for similar units, this property has significant upside potential via near-term rent increases (or owner-occupancy if you prefer – live in one unit, collect rent on the other). Additional upside potential is available via the lease-up of the on-site two-car garage.
Each 2BR/1BA unit is approximately 1,150 sq ft for a total of 2,300 sq ft of living area. Unit amenities include full kitchens (oven/stovetop, dishwasher, garbage disposal, and refrigerator), central HVAC, ceiling fans, hardwood floors, and private decks. Building amenities include a +/-1,150 sq ft basement, washer/dryer hookups, lockable storage closets available to tenants and/or the landlord, a fenced yard with locking gates, and a two-car garage.
The property was fully renovated in 2015 with new building systems and unit renovations. New building systems include: 200-amp electric panels, PVC stacks, lateral piping under the basement slab, water heaters, HVAC systems, separate utility meters, gas furnaces (2017), and roof (2018). Interior renovations include: reconfigured open-concept floor plans along with new fully equipped kitchens (appliances, sink/countertop, and cabinetry), bathrooms, windows, drywall/paint, and other interior finishes.
Located in the Gravois Park neighborhood, the property is within walking distance to area amenities including: shops and restaurants on S Grand Ave, the Cherokee St entertainment district, Schnucks grocery store, schools, parks, the St Louis Public Library, Gravois Park, and a variety of public transportation options.
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Renovated 8 family for sale located in St. Louis County approximately a 15 minute drive to the airport and 20 minutes to downtown St. Louis and Clayton. The property has 2 four-family ranch style buildings consisting of 4 two bed units, and 4 one bed units.
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Check out this beautiful and large four-family property with 3 successful medium-term rentals (with five-star reviews). The furnished apartments rent for $2,000, $1,800, and $1,800 for a total of $5,600 a month for the 3 apartments.
Located in the tree-lined and quiet neighborhood of Southwest Gardens, which is a short walk to the Botanical Gardens, Tower Grove Park, The Hill, and a short drive to Barnes or SLU Hospitals (making it very convenient for travel nurses and other medical professionals). Each unit has 2 bedrooms and one bathroom. The three furnished units are professionally updated throughout with high-end furnishings and offer tenants absolutely everything a tenant would need for their stay including Casper mattresses, blackout curtains, Internet TVs, fully stocked kitchens, etc. Each tenant also has their own dedicated laundry. All furnishings are included in the sale.
The tenants love having a second bedroom so they can travel in pairs or have visitors while they are away. There is also a fenced backyard in case they travel with a dog. The two upstairs units each have a porch. Off-street parking is also available behind the building. One unit is not furnished and will be made available for an owner-occupant. An investor could also make the last unit a medium-term rental or fill it with a long-term tenant.
There is a lot of demand for these apartments, they rent quickly when available and are easy to manage. If the non-furnished apartment was also rented as a furnished apartment at $1,800 the monthly income for the building would be $7,400 a month, which is $88,800 annualized. The average rent for an unfinished 2-bedroom apartment within a mile in the last 12 months is $1,439.
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A rare chance to own an updated four-family in the North Hampton neighborhood, located near The Hill, Tower Grove Park, and the Botanical Gardens.
The building features updated vinyl windows, an updated kitchen with newer cabinets and an island, walk-in closets, and a 2 story deck on the back of the building. The building was recently tuck-pointed, there is off-street parking, updated PVC plumbing stacks, updated electric panels, and storage units for tenants.
Three units are rented at $950, $950, and $875 with the vacant apartment on the market for $975. There are numerous 1 bedroom apartments of similar size in the neighborhood that rent from $1,095 to $1,150. This would make a great investment property for an investor or ideal for an owner-occupant.
Property to be sold as-is.
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Well-maintained apartment complex located in the South Hampton neighborhood, across the street from Christy Park and a half mile from a $72M apartment development that has broken ground.
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Explore the potential of this promising 4-family property, featuring 1-bedroom, 1-bathroom units. Here’s what makes this property a compelling investment opportunity:
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Great opportunity for an owner occupant or investor to purchase this newly renovated two story townhouse with 3 bedrooms and 2 full baths.
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Welcome to this newly renovated duplex, where each unit offers a spacious and modern 3-bedroom, 2-bathroom layout. Here’s why this property stands out:
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