Check out this beautiful and large four-family property with 3 successful medium-term rentals (with five-star reviews). The furnished apartments rent for $2,000, $1,800, and $1,800 for a total of $5,600 a month for the 3 apartments.
Located in the tree-lined and quiet neighborhood of Southwest Gardens, which is a short walk to the Botanical Gardens, Tower Grove Park, The Hill, and a short drive to Barnes or SLU Hospitals (making it very convenient for travel nurses and other medical professionals). Each unit has 2 bedrooms and one bathroom. The three furnished units are professionally updated throughout with high-end furnishings and offer tenants absolutely everything a tenant would need for their stay including Casper mattresses, blackout curtains, Internet TVs, fully stocked kitchens, etc. Each tenant also has their own dedicated laundry. All furnishings are included in the sale.
The tenants love having a second bedroom so they can travel in pairs or have visitors while they are away. There is also a fenced backyard in case they travel with a dog. The two upstairs units each have a porch. Off-street parking is also available behind the building. One unit is not furnished and will be made available for an owner-occupant. An investor could also make the last unit a medium-term rental or fill it with a long-term tenant.
There is a lot of demand for these apartments, they rent quickly when available and are easy to manage. If the non-furnished apartment was also rented as a furnished apartment at $1,800 the monthly income for the building would be $7,400 a month, which is $88,800 annualized. The average rent for an unfinished 2-bedroom apartment within a mile in the last 12 months is $1,439.
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