449 Olian, Hazelwood, MO 63042

$609,900
8,020
SqFt
List Price
$609,900
Days on Market
29
MLS#
18084407
Status
ACTIVE
Lot Size
24,219
Acres
0.556
Sq. Ft. Above
8,020
Price Per Sq. Ft
76.05
Year Built
1970
Age
48
Subdivision
Joi Manor
Municipality
Hazelwood
County
St Louis
Listing Type
Multifamily

Property Description

449-463 Olian- Well maintained side by side 4 families with large 1,000 sq ft, 2 bed 1.5 bath town-home units located in a quiet subdivision. Buildings are fully leased with gross rents of $6,500 a month and $78,000 annually. After expenses and vacancy the net annual income is $51,254 which is a 8.4% cap rate. There is plenty of potential with the ability to raise rents. Current rents range from $775-$895, if the rents in all of the units were raised to $895 the buildings would generate an additional $660 a month and $7,920 a year for a net income of $55,009 creating a 9.1% cap rate. There are apartments one block away with the same layout that rent for $1,200 a month. Apartments are easy to rent with updated kitchens and baths, additional lower level family room, in unit laundry, off street parking with dedicated parking spot, newer windows throughout, newer roofs, some newer furnaces and condensers. There is a park with playground behind the buildings. Buildings to be sold together.

Additional Information

Gross Operating Income
74100
Total Expenses
$22,846
School District
Hazelwood
Elementary School
Mcnair Elem.
Jr. High School
West Middle
Sr. High School
Hazelwood West High
Construction
Brick Veneer Predom, Brick/Stone Msn Pred
Parking Description
1 Space/Unit
Cooling
Central-Electric
Sewer
Public
Heating
Forced Air
Water
Public
Heat Source
Gas
Taxes Paid
7650
Selling Terms
Cash, Conventional, Government, Private

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Listing courtesy of Invest St. Louis.

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