Amazing location & historically significant brick building w/ extra lot providing private green space for tenants. Fully occupied, 12 unit building in the hot "Patch" neighborhood with a 10.4% Cap rate. This 2-story brick building once housed a local bakery & confectionery before being converted to residential use. There are (10) 1-bedrm units & (2) 2-bedrm units, dry basement w/ storage lockers & a huge shed currently used for storage & work shop but could easily be converted to more tenant storage or on-site laundry. All units have circuit breakers & forced air gas heat - all individually metered. Renewable silicone roof is less than 3 yrs old & shed roof is less than a year old, both with 10 year warranties @ install. Updates in the last 3 years include tuck pointing, roof, (6) water heaters & interior updates. In the last 10 years - wood decks & vinyl windows. Owners have spent the last 3 years improving the property & placing solid tenants. This property is truly turn key!
Listing courtesy of St. Louis Home Brokers.
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