- Opportunity to purchase turn key side by side 5280 Sq Ft four families with 2 bed units.
- 8 total units with 16 bedrooms with 1250 sq ft units that will be sold as a package.
- 6 of 8 units are currently rented below market rent. Current rents are $625,$625,$600,$625,$625,$625
- Market rent for similar size 2 bedrooms units in St. Charles is $750-$1,000
- Fully rented at $750 each building would generate $6,000 monthly and $72,000 a year.
- Building features off street parking, central air, updated electric, newer vinyl windows
- Hardwood floors have all been refinished, 7 of 8 furnaces have been replaced in the last 6 years.
- Roof, Soffits and fascia were replaced 6 years ago.
- Each tenant has their own private storage and the building comes with security cameras that stay with the building.
- Electric $751
- Water/Sewer $2,255
- Trash $2,460
- Pest Control $480
- Landscaping/snow removal $500
- Taxes $5,486
- Insurance $3,800
- Total 15,732
- Potential Gross Rent $72,000
- Vacancy (6%) $4,320
- Expenses $15,732
- Potential net income $51,948
- Potential cap rate based off market rent is 9.1%
- Paying buyers agents 2.7%
Jordan Schoen Is A Licensed Broker In The State Of Missouri