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Key Details
Sold Price $200,000
Property Type Multi-Family
Sub Type Multi-Family 2-4
Listing Status Sold
Purchase Type For Sale
Square Footage 3,098 sqft
Price per Sqft $64
Subdivision Russell Place Add
MLS Listing ID 19089520
Sold Date 01/14/20
Construction Status 93
Year Built 1927
Building Age 93
Lot Size 5,750 Sqft
Acres 0.132
Lot Dimensions 40x144x145x40
Property Sub-Type Multi-Family 2-4
Property Description
Don't miss this great opportunity to own a value-add property in the highly desirable Tower Grove South Neighborhood! Walking distance to Tower Grove Park, and the South Grand business district with all of the arts, entertainment, and dining it offers. Current owner has owned the property for 20+ years and has taken great care of it. Each unit is 3/1/1, with hardwood floors, some updated windows, and some updated bathroom fixtures. Right out of the gates there is room to raise your bottom line, as current rents are below market across the board due to long term tenants. Currently renting at $530/475/455, with most recent tenant at $565.
Fully rented at market rate, this property would gross $27,120 and net $19,436, a solid 10+ Cap rate. With some targeted upgrades/updates, rents could go higher, and this property would be truly special!
Roof re-surfaced 1 year ago. Electric has been updated to breakers. Sale to be as-is, Seller to do no repairs or provide any warranties.
Location
State MO
County St Louis City
Area South City
Interior
Heating Gravity Air
Cooling Wall/Window Unit(s)
Fireplace N
Appliance Some Insulated Window(s), Some Refrigerator(s), Some Range Oven(s)
Building
Sewer Public Sewer
Water Public
Structure Type Brick
Construction Status 93
Schools
Elementary Schools Mann Elem.
Middle Schools Fanning Middle Community Ed.
High Schools Roosevelt High
School District St. Louis City
Others
Ownership Private
Acceptable Financing Cash Only, Conventional
Listing Terms Cash Only, Conventional
Special Listing Condition None
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Bought with Jesse Billadeau