2311 Indiana Ave., 63104
$115,000 (Listed Sold)

Pre MLS – 5,310 SqFt McKinley Heights – Wholesale Four Family – Ideal For Townhome Conversion

*click image to start slideshow

Invest in St. Louis

 

Built in 1896 and located in McKinley Heights within walking distance to Lafayette Park, Fox Park and Soulard. The building is a three story four family that is 5,310 sq ft with two 3 bed units and two 1 bed units. The building needs rehab and the highest and best use is to convert to two townhomes. The two townhomes would each be 2,655 SqFt with 4 beds and 2 baths.

Comparable Townhome sales:

1829 Allen Ave St. Louis, MO 63104
3 Bed 3 Bath 2,007 SqFt.
Price: $235,900 – $117 Per SqFt.

725 Shenandoah Ave. St. Louis MO 63104
3 Bed 3 Bath 2,144 SqFt.
Price: $236,000 – $110 Per Sq Ft.

2270 S. Jefferson St. Louis, MO 63104
3 bed 3 bath 2,200 SqFt.
Price: $244,900 – $114 Per SqFt.

2042 Geyer St. Louis, MO 63104
3 Bed 3 Bath 2,032 SqFt.
Price: $251,000 – $122 Per SqFt.

At $110 per SqFt (which is the lowest price per SqFt of any of the comparable townhome sales) the after repair value would be $292,050 for each townhome with a total after repair value of $584,100.

At $100 per SqFt which is considerably lower than any of the sales the after repair value is $265,000 for each townhome with a total after repair value of $530,000.

If kept as a 4 family after updating the 3 bed units would rent for approximately $1,100 and the 1 bed units for $625 for a total of $3,450 a month and $41,400 a year. With expenses estimated at $1,000 a month the building would net $29,400 a year after expenses.

 

Paying Buyers Agents: 2.7%

N/A
Property Details:
Square Footage: 5,310 County: St. Louis City Units: 1-4 Condition: Rehab Needed Occupancy: Vacant Parking: On Street Parking Heating: Gas Heat Cooling: Central Electric Construction: Brick, Stone Basement: Other
Home Amenities:
  • Some Dishwashers
  • Microwaves
  • Fridge
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.

Search The MLS

Search the MLS below using the city, postal code, address or listing id of the desired property.