3910 Lindell, St Louis, MISSOURI 63108

$950,000
15,132
SqFt
List Price
$950,000
Days on Market
37
MLS#
19052667
Status
ACTIVE
Living Sq. Ft
15,132
Lot Size
10,672
Sq. Ft. Above
15,132
Acres
0.245
Year Built
1897
Age
122
Subdivision
Lindell Add 02
Municipality
St. Louis City
County
St Louis City
Listing Type
Multifamily

Property Description

Central West End Commercial Redevelopment Opportunity. Prime location next to St Louis University and Cortex. 15,132 SF Building (3 floors @5,044 each). Former Law Offices since 1970's, Vacant and needs renovation. Potential uses include multi-family student housing, office space, co-working, micro apartments, mixed use with retail or restaurant on the first floor. Location and high rents for student housing make this an attractive conversion. Spec drawings and renderings are available for 18 apartments with 6 apartments on each floor with (14) one bedroom and (4) two bedroom apartments. With market rent for updated 1 beds close by renting from $1,252-$1,370 and 2 beds from $1,195 to $1,795 there is the potential for $22,308-$26,360 in gross monthly income and $267,696-$316,320 in annual gross income based off of rent comps. With a 40% expense/vacancy of the gross rent the net income could range from $160,617-$189,792. Rear parking lot with 12 spaces. Located in an opportunity zone.

Additional Information

School District
St. Louis City
Elementary School
Hamilton Elem. Community Ed.
Jr. High School
Fanning Middle Community Ed.
Sr. High School
Beaumont Cte High School
Construction
Brick/Stone Msn Pred
Parking Description
Accessible Parking, Parking Lot
Cooling
Central-Electric
Sewer
Public
Heating
Forced Air
Water
Public
Heat Source
Electric
Price Per Sq. Ft
62.78
Taxes Paid
12896
Selling Terms
Cash, Conventional, Exchange, Private, Other

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Listing courtesy of Invest St. Louis.

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