Webster Groves, MO 63119

$859,000
7,224
SqFt
List Price
$859,000
Price Change
▼ $20,000 1489655056
Days on Market
171
MLS#
17006397
Status
ACTIVE
Living Sq. Ft
7,224
Lot Size
12,458
Sq. Ft. Above
7224
Acres
0.286
Year Built
1960
Subdivision
J D Richmond
Municipality
Webster Groves
County
St Louis
Listing Type
Multifamily

Property Description

Back on market due to no fault of seller ** latest 1 bed just leased for $845/mo**Immaculate 9 unit apartment building in desirable Webster Groves! Loads of updates. New shingle roof 2015, thermal replacement windows, 8 of 9 kitchens and baths are upgraded/renovated, some with higher end finishes, newer HVAC units, gleeming hardwood floors, brand new commercial grade water heater. 6 garages plus 4 offstreet parking makes it easy to lease these apartments. Some units with below market rents and are being increased as they turn - rent upside for next owner! Cap rate with current rents is 6.88% and 7.25% with market rents (9+% cash-on-cash). Approaching 23% projected 10 year IRR. Turnkey investment in one of st. Louis' most desired inner suburban neighborhoods. Less than 5 minutes to Webster University! Minutes from downtown Maplewood, blocks from I-44 entrance, 10 minutes from Clayton CBD, forest Park, Wash U.

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

Additional Information

Gross Operating Income
73997
Total Expenses
$18,286
School District
Webster Groves
Elementary School
Avery Elem.
Jr. High School
Hixson Middle
Sr. High School
Webster Groves High
Construction
Brick Veneer Predom, Brick/Stone Msn Pred
Parking Description
Parking Garage, Parking Lot
Cooling
Central-Electric
Sewer
Public
Heating
Individual Furnaces
Water
Public
Heat Source
Gas
Price Per Sq. Ft
118.91
Taxes Paid
4976
Selling Terms
Cash, Conventional

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Listing courtesy of Berkadia Real Estate Advisors, LLC.

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