4269 Bates, St Louis, MO 63116

$524,000
6,120
SqFt
List Price
$524,000
Price Change
▼ $15,900 1486164880
Days on Market
466
MLS#
16002132
Status
ACTIVE
Living Sq. Ft
6,120
Lot Size
9,017
Sq. Ft. Above
6120
Acres
0.207
Year Built
1989
Subdivision
Bates Street Terrace Add
Municipality
St. Louis City
County
St Louis City
Listing Type
Multifamily

Property Description

Built in 1988, this ten unit apartment building at Bates and Morganford stays leased and won't present the future owner with all of the question marks 100+ year old buildings face. All units are individually metered and have their own central heating and cooling systems. Off street parking in the rear of the building for eight cars. The leases in place allow the Landlord to collect sewer and water - Typically a sunk cost for landlords. Rent range for the apartments are currently $400-$500/mo with the average over the ten units being $470/mo. New owner may be able to drive up rents through cosmetic rehab of each unit when it become available. No vacant units - Must schedule appointments through listing agent and allow at least one day for access. Rent roll is in the attachments, past three years of financials are available upon request. True NOI for 2015 was over $44,000. Hurry, a 10-unit building less than 30 years old won't last long at a 7.5% cap rate!

Want to see this home? Call 844-657-7483

Additional Information

Gross Operating Income
57890
Total Expenses
$13,475
School District
St. Louis City
Elementary School
Woerner Elem.
Jr. High School
Long Middle Community Ed. Center
Sr. High School
Roosevelt High
Construction
Brick/Stone Msn Pred
Parking Description
Parking Lot, Unassigned
Cooling
Central-Electric
Sewer
Public
Heating
Forced Air
Water
Public
Heat Source
Gas
Price Per Sq. Ft
85.62
Taxes Paid
3963
Selling Terms
Cash, Conventional

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Listing courtesy of Red Brick Realty.

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