Twelve unit apartment complex located in a quiet residential neighborhood in the Hazelwood School District with mostly single family homes.
Built in 1960 with 12 Ranch style units with the ability to build out a 13th unit which is currently a shell.
There are currently 11 one bedrooms and 1 efficiency.
Sale includes two lots, 25 Nordell Ct, the main lot with the apartment complex which is .97 acres and there is also 20 Nordell Ct, a.47 acre buildable residential lot totalling almost 1.5 acres.
Complex features a laundry facility with Hoppy’s coin operated laundry for tenants and there are also storage units for tenants.
1 Bedroom apartment rents for as much as $700 which provides an opportunity to raise rents.
If fully rented with rents of $700 for the 1 beds, $600 for the efficiency and the potential future unit rented for $700 the building would generate $9,000 a month.
WIth the future unit rented out with rents of $700 for the 1 beds and $600 for the efficiency the building would generate $102,600 with 5% vacancy.This is a low maintenance building with a number of long term tenants.
Building is easy to rent and has been at 97% occupancy.
Plenty of off street parking in the back of the building.
Located close to a Walgreens and Fire Station.
Search the MLS below using the city, postal code, address or listing id of the desired property.