1131-1147 Hodiamont Ave, Saint Louis, MO 63112
$6,100,000 (Inactive)

59 Fully Renovated Apartments For Sale Near Washington University

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Investment Summary

  • Conveniently located a half mile from Washington University’s North Campus, and the Delmar Loop.
  • Washington University’s Medical School is ranked 11th in the U.S. News & World Report ranking for 2023 for research. The undergraduate program was ranked 14th in the U.S. in 2022.
  • The Loop is known as one of the cultural centers of St. Louis with many shops, restaurants, and entertainment options. The Loop was named one of the 10 Great Streets In America by the American Planning Association.
  • Also located 1.3 Miles from Washington University’s main campus, and Forest Park. Forest Park is home to the St. Louis Zoo, the St. Louis Art Museum, the St. Louis Science Center and the Missouri History Museum.
  • Washington University just purchased 9 buildings in The Loop as they continue to expand their footprint north of the main campus.
  • There are 5 total buildings in the complex which have 9 (1) bed units,13 (2) bed units, and 37 (3) bed units. There are 146 total bedrooms in the Complex.
  • The unit mix percentage breakdown for the property is (63%) 3-bed units, (22%) bed units, and (15%) 1-bed units.
  • The entire complex is fully renovated with 100% occupancy.
  • There is potential to raise the rents to the market rents for a good portion of the units, which could generate an additional $40,000+ annually in revenue.
  • Current management company charges 5% management fee. There is an additional payroll charge for on-site management.
  • Current Fannie Mae rates for a property like this would be 170bps +/- over the 10 year UST, which would equate to a 5.64% interest rate.
  • With renovation completed the complex is similar to being new construction, which will keep maintenance and turnover costs very low.
  • A laundry facility and playground was added to the property. There is secure gated parking with 76 parking spots.
  • There is a bus line that has a stop directly in front of the complex. St. Vincent’s Greenway Trailhead is across the street, which has a paved trail that stretches all the way to Forest Park. There is also an extensive playground area, splash pad for kids, and basketball court.
  • The Station House Apartments located two blocks away have 1 beds renting from $1,295-$1,495, 2 beds from $2,150-$2,365, and 3 beds from$2,275-$2,325.

Improvements To The Exterior Of The Property

  • New Exterior Fence throughout the Property with Automatic Gates
  • New Security System With Cameras
  • New Playground
  • New Facade
  • New Sloped Metal Roofs and Siding Roofs
  • Repaired and Replaced New Façade Texture & Painting
  • Newer Vinyl windows
  • New Awnings
  • New Mailboxes
  • Paving In Parking Area Resurfaced
  • Landscaping

Improvements To The Interior Of the Property

  • New Plumbing
  • New Electrical
  • New Bathrooms
  • New Kitchens
  • New Stainless Steel Appliances
  • Drywall Repaired and Replaced
  • New Flooring Throughout the Units
  • New Laundry Room

Supplemental Documents

Property Location

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Property Details:
Square Footage: 53400 County: St. Louis City Units: 40+ Condition: Rehabbed Occupancy: Fully Occupied Parking: Off Street Parking, Parking Lot Heating: Electric Heat Cooling: Central Electric Construction: Brick, Wood Basement: Poured Concrete
Home Amenities:
  • Some Dishwashers
  • Microwaves
  • Fridge
  • Stove
Agent Details:
Owner / Broker: Jordan Schoen Phone: (314) 255-5117 Fax: (314) 480-7053
Contact Agent: Please use the form below to contact agent Jordan Schoen about this listing.

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