Webster Groves, MO 63119

$859,000
7,224
SqFt
List Price
$859,000
Price Change
▼ $20,000 1489655056
Days on Market
87
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

Immaculate 9 unit apartment building in the desirable Webster Groves neighborhood! Loads of updates. Newer shingle roof, thermal replacement windows, majority of the kitchens and baths are upgraded/renovated, some with higher end finishes, many newer HVAC units, gleeming hardwood floors, New asphalt shingle roof, garages plus offstreet parking makes it easy to lease these apartments. Fully leased. Several units are well below most recent lease rate of $795 so there is instant rent upside when those units turn! Cap rate with current below market rents is 6.34% with projected 7.37% cap rate and 11% cash-on-cash return once below market rents are brought to market. 20+% 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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