This is a rare chance to purchase a two-family investment property in a quiet neighborhood on almost 1/3 acre. Located 3 blocks from Lindenwood University, near the new Schnucks and the St. Charles Historic District.
The building has 2 bed, 1 bath units featuring central air conditioning, in-unit full size washer and dryer hookups. The average rent for a 2-bedroom apartment within 2 miles in the last year is $1,141 with the average rent $1.41 per sq. ft., with apartments renting for $1,105, $1,250, $1,396, and $1,500 depending on size and updates. One unit is being left vacant to show and the other unit is occupied month-to-month to a 12-year tenant below market rent at $850. Units are individually metered with tenants paying water, sewer, gas, and electric bills. This keeps expenses low, creating an attractive investment opportunity.
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