- Property is a 3,328 sq. ft. brick four family in the up and coming Dutchtown area, overlooking a quiet park, and just 1.5 miles from Tower Grove Park. Perfect for owner-occupant or an investor looking to generate easy passive income!
- Property built in 1929.
- Each unit is 1br/1b, with walkthrough floor plan and plenty of open space.
- Three of four units are recently updated with new paint and lighting fixtures, and refinished wood floors. Kitchens have new linoleum and cabinets. Building has updated electrical wiring, and pvc plumbing. All units have new appliances. New water heaters.
- New roof installed in 2013.
- Units currently rent at $520, $495, $495, and $435 for the unit that hasn’t been updated.
- All four units rented on yearly leases.
- Gross rents of $1945 monthly, $23,340 annually.
- Annual Expenses:
- Taxes – $753.72
- Insurance – $2,124
- Sewer – $1,217.88
- Water – $693.08
- Maintenance/Repairs – $1,600
- Services (trash, etc..) – $528
- Total Annual Expenses – $6,916.68
- NOI – $16,423.32 – Cap Rate of 13.8%
Paying Buyer’s Agents 2.7%
Call Will Springer 314.817.6620 to set up showing – 24 hr notice required, one occupied unit on lockbox and basement available to show. Please do not disturb tenants.