8700 Crocus, St Louis, MISSOURI 63114

$2,975,000
39,600
SqFt
List Price
$2,975,000
Price Change
▼ $125,000 1573178796
Days on Market
197
MLS#
19040346
Status
ACTIVE UNDER CONTRACT
Living Sq. Ft
39,600
Lot Size
78,844
Sq. Ft. Above
39,600
Acres
1.81
Year Built
1959
Age
60
Subdivision
Crocus Court
Municipality
St. John
County
St Louis
Listing Type
Multifamily

Property Description

56 Unit apt complex located on 1.8 acres across the street from Home Heights Park and minutes from downtown Clayton and the airport. Comprised of 10 brick buildings with pitched roofs & plenty of parking for the tenants. 24 two-bed & 32 one-bed apts. Rents have been, and can be, increased to as much as $550 for the 1 beds & $650 for the 2 beds. From August 2018 to July 2019 the property generated $363,261 with a net income of $230,129. With 1 bed rents at $550 & $650 for 2 bed across the board, the gross rent would be nearly $400k/yr, current occupancy is at 96%. There have been updates to many of the units including updated kitchen cabinets, flooring, double pane windows, etc. Other recent capital improvements include emergency fire escapes, welding, and PVC plumbing stack replacement. There is an on-site management company in place which is currently charging a 4% management fee that would be open to continuing to manage the property.

Additional Information

Gross Operating Income
363261
Total Expenses
$133,132
School District
Ritenour
Elementary School
Marvin Elem.
Jr. High School
Ritenour Middle
Sr. High School
Ritenour Sr. High
Construction
Brick/Stone Msn Pred
Parking Description
Parking Lot
Cooling
Wall Unit(s), Central-Electric, Window Unit(s)
Sewer
Public
Heating
Baseboard, Forced Air, Individual Furnaces
Water
Public
Heat Source
Electric, Gas
Price Per Sq. Ft
75.13
Taxes Paid
38760
Selling Terms
Cash, Conventional, Private, VA, Other

Mortgage Calculator

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Listing courtesy of Invest St. Louis.

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