Rare opportunity to purchase under-rented 10 and 8-unit multi-family buildings next door to each other in the Botanical Heights neighborhood. 18 total units across 3 buildings. 15 of 18 units are occupied, with current rents below market. 11 units have been updated with 1 in process which will be completed prior to closing. There is the potential to add value and raise rents significantly in the future both as-is and with additional updates. Updated apartments are now leasing for $725, this would yield $13,050 of gross rental income a month, $156,600 annually based on all tenants as $725. Rent comps for similar size apartments range from $750-$1,350 depending on amenities and updates. Located in close proximity to Forest Park, Washington University School Of Medicine, St. Louis University, University Of Health Science And Pharmacy In St. Louis, Botanical Gardens and Tower Grove Park. Addresses are 4156 Folsom (10 units) and 4164 Folsom 63110 (8 units). Price Reduced $100,000.
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