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Multifamily For Sale

3605 Meramec, St Louis, Missouri 63116

$459,000
0 Bedrooms
0 Bathrooms
14,216 Sqft
Listing ID #19067245
Property Description

Well maintained 14 unit mixed-use building with 10 apartments and 4 commercial spaces. There are 4 one-bed units and 6 efficiency units, all have balconies. Great for someone looking for a turn-key investment or a business owner who could have their business in the building and have tenants pay the mortgage. Building generated $73,548 in income in 2018 with $24,011 in exp creating a net inc of $49,537 which is a 10.7% cap rate. The inc for 2019 is on track for very similar inc and exp. Plenty of room to raise the rents, market rent for these units is approx $495 for the studios, $525-$550 for the 1 beds and $550-$700 for the comm units depending on the space. The building is solid, plumbing and electric have been updated and 7 of the 10 residential units have recently undergone cosmetic makeover with new laminate flooring, new hotel style heating and AC wall units. Any vacant units will be made rent-ready and filled prior to closing. Seller is licensed agent in state of MO.

Basic Details
Property Type : Multifamily
Listing ID : 19067245
ListingStatus : Active
Price : $459,000
Bedrooms : 0
Bathrooms : 0
Square Footage : 14,216 Sqft
Floors : 4
Year Built : 1926
Lot Area : 0.12 Acre
Tax Year : 2018
Tax Amount : $5,132
Property Type : Apartment
PropertySubType : Apartment Complex
Address Info
Click Here!
3605 Meramec
US
MO
St Louis City
St Louis
Grand Meramec Park Add
63116
W91° 45' 19.1''
N38° 34' 52.4''
https://goo.gl/maps/2ppH4tgV9NtdpQA96
School Information
St. Louis City,St. Louis City,St. Louis City,St. L
Buder Elem.,Roosevelt High,Long Middle Community Ed. Center
Agent Info
Listing
Invest St. Louis
Jordan
Schoen
Broker Info
Invest St. Louis
(314) 255-5117
St. Louis
MO
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