5101 S. Kingshighway, St. Louis, MO 63109
$1,695,000 (Available Now)

Rare Opportunity To Purchase 19 Unit Complex In South Hampton Neighborhood

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-Well-maintained apartment complex located in the South Hampton neighborhood, across the street from Christy Park and a half mile from a $72M development that has broken ground covering 12 acres on Kingshighway.

-Built in 1928 this building has beautiful architectural detail with interior features like common areas with terrazzo floors.

-There is a value add component to the property with a strong rental market in the area. The owner has raised rents considerably for some of the original units to $850 a month.

-The seller has updated 4 units with 4 in the process of being renovated with a completion timeline of 2-3 months. The asking rent after completion will be $995. The updated units currently rent from $895 to $920. Similar-sized updated one-bedroom apartments nearby are renting for as much as $995 a month.

– Seller will complete the four apartments and rent the units prior to closing.-Completing a cosmetic update of the rest of the units including kitchens, baths, HVAC and in-unit laundry could generate top-of-the-market rents. There are also several units with low rents that can be raised as-is with a lease renewal or new tenant.

-If all apartment rents were raised to the top rents in the building it would generate an additional $34,974 annually.

-Building has updated electric panels and exterior service, storage units for tenants, some pvc plumbing.

-The building has common area laundry. Additional laundry machines were added in the basement. There is a closet in the apartments that would work well for in-unit laundry.

-Seller currently provides heat through a boiler system. Electric heating units in renovated apartments were added in order to reduce use of the boiler and reduce gas costs.

-There is also the potential to add additional storage in the basement and charge for storage.

– Roofing above the exterior stairwells is being replaced with new plywood, foam board, and TPO Roofing. The remainder of roof is in great shape according to Lifetime Roofing.

-There are 3 commercial spaces rented on the first floor. These commercial spaces could also be converted to apartments to have an all-apartment complex in the future.


Property Location

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Property Details:
Square Footage: 13869 County: St. Louis City Units: 10+ Condition: Turn Key Occupancy: Some Units Vacant Parking: On Street Parking Heating: Electric Heat, Gas Heat Cooling: Central Air Construction: Brick, Stone Basement: Stone
Home Amenities:
  • Some Dishwashers
  • Fridge
  • Stove
  • Hardwood Floors
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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