9640 Diamond, St Louis, MISSOURI 63137

$2,225,000
46,442
SqFt
List Price
$2,225,000
Days on Market
17
MLS#
19067306
Status
ACTIVE
Living Sq. Ft
46,442
Lot Size
62,901
Sq. Ft. Above
46,442
Acres
1.444
Year Built
1976
Age
43
Subdivision
Riverview Gardens
Municipality
Riverview
County
St Louis
Listing Type
Multifamily

Property Description

Opportunity to purchase a large well maintained 86 unit apt complex located on secluded 1.5-acre lot overlooking the Mississippi River. This 46,442 sq ft complex is comprised of 68 one-bed units, 17 two-bed units & one efficiency unit. The total gross inc for 2018 was $400,928 with net operating inc of $205,823 which is a 9% cap rate with the ability to raise rents and add value. 81 units were recently renovated and there have been significant recent capital improvements totaling $233k over the last few years including new HVAC, appliances, a new roof on the 20 unit building, porches, railings and staircases were replaced along with plumbing stacks, tuckpointing and a retaining wall. On-site management office, on-site laundry, large maintenance storage space, camera monitoring system. All-electric complex. 78 of the 86 units are rented, a 91% occupancy rate. Rare opportunity to purchase large profitable multi-fam complex with growth potential. Property mang co interested to stay on.

Additional Information

Gross Operating Income
400928
Total Expenses
$195,105
School District
Riverview Gardens
Elementary School
Highland Elem.
Jr. High School
R. G. Central Middle
Sr. High School
Riverview Gardens Sr. High
Construction
Brick/Stone Msn Pred
Parking Description
On Street Parking, Parking Lot
Cooling
Central-Electric
Sewer
Public
Heating
Electronic Air Fltrs, Baseboard, Individual Furnaces
Water
Public
Heat Source
Electric
Price Per Sq. Ft
47.91
Taxes Paid
43769
Selling Terms
Cash, Conventional, Government, Private, VA, Other

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Listing courtesy of Invest St. Louis.

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