9801 S. Broadway
$119,000 (Listed Sold)

7 unit apartment building and fully furnished bar

*click image to start slideshow

Invest in St. Louis

-7 Unit apartment building with fully furnished bar for sale.

-Building is 7,223 sq ft and is located in Lemay on Broadway just 1 mile from the River City Casino.

-Currently 5 apartments are rented for $475, $425, $425, $425, $425, all to long term tenants.  2 vacant apartments are rent ready.

-Bar generated $90,000 in net income in 2015

-The building comes with a fully furnished bar with coolers, keno, TVs, tables, chairs, glassware, cash register, etc. The only items not included are the pool table and juke box.

-This would be ideal for someone who would operate a bar and have additional rental income coming in from the apartments or the bar could also be leased out to a tenant.

-The bar space could also be converted to additional apartments, an office, store or other retail space.

 

Current monthly income with 5 of 7 Apartments rented – $2,175

Monthly income with 7 apartments rented –  $3,025

Current Annual income with 5 of 7 apartments rented – $26,100

Annual income with 7 apartments rented – $36,300

Expenses (Including bar, utilities paid by owner):

Monthly:

Taxes       – $417.92

Insurance – $208.85

Electric    – $452.23

Gas          – $330.50

Trash       – $201.00

Water      – $13.11

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Total Monthly – $1623.61

Annually:

Taxes       – $5,015

Insurance – $2,506.20

Electric    – $5,426.76

Gas          – $3,966

Trash       – $2,412

Water      – $157.32

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Total Annual Expenses – $19,483

Potential Net Annual Income With 7 Apartments Rented: $16,817

Annual net income with 2015 bar income included: $106,817

Asking $169,000

Paying buyers agents 2.7%

Please do not disturb the tenants

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Property Details:
Square Footage: 7,233 County: St. Louis City Units: 5+ Condition: Turn Key Occupancy: Fully Occupied Parking: On Street Parking Heating: Gas Heat Cooling: Central Electric Construction: Brick, Wood Basement: Other
Home Amenities:
  • 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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