Located In The Grove & Botanical Heights Neighborhoods
$12,000,000 (Inactive)

Unique Opportunity To Purchase A Portfolio Of 19 Multi-Family Properties

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Investment Highlights

● Located in close proximity to Forest Park, Barnes Jewish Medical Complex, Washington University School Of Medicine, St. Louis University, Cortex, University Of Health Science And Pharmacy In St. Louis, The Central West End, Botanical Gardens and Tower Grove Park.

● There are 19 buildings with 81 total units with 125 bedrooms in the portfolio.

● Total square footage for the buildings in the portfolio is 69,880.

● The portfolio is stabilized with many updates throughout the buildings with strong historical occupancy.

● The current rent roll is approximately $74,400 a month which is approximately $893,000 annualized.

● Approximately 90% of the units have been fully renovated.

● There is the potential to add value and raise rents significantly in the future.

● If these apartments were rented at the same rates as the highest rental rates in neighborhood the annual gross rental income could potentially be over $1,250,000.

● Current rents for the apartments in the portfolio average $1.06 per square foot.

● Rents for updated apartments in The Grove and Botanical Heights rent for as much as $2-$2.50 per sq ft depending on size and amenities. (Rentometer.com)

● Seller currently pays water, sewer and trash costs. Starting in September of 2022 the seller will charge new tenants $50 a month for water, sewer and trash. If this is done with all tenants the monthly income will increase by $4,050 a month and $48,600 annually.

● The average rent price in The Grove and Botanical Heights is $1,669. (Provided by Rent Cafe)

● There is the potential to sell these buildings off individually in the future.

● The buildings are clustered close to each other making it easy to manage.

● These buildings are only to be purchased all together.

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Property Details:
Square Footage: 69880 County: St. Louis City Units: 40+ Condition: Rehabbed Occupancy: Some Units Vacant Parking: Garage, Off Street Parking, On Street Parking Heating: Electric Heat, Gas Heat Cooling: Central Air Construction: Brick Basement: Stone, Other
Home Amenities:
  • Some Dishwashers
  • Disposals
  • Fridge
  • Stove
  • Washer/Dryer Hookup
  • Hardwood Floors
  • Tile Floors
  • Carpet
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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