9640 Diamond, St Louis, MISSOURI 63137

$2,125,000
46,442
SqFt
Sold Price
$2,125,000
List Price
$2,225,000
Closing Date
Jul 01, 2020
Days on Market
298
MLS#
19067306
Status
CLOSED
Living Sq. Ft
46,442
Lot Size
62,901
Sq. Ft. Above
46,442
Acres
1.444
Year Built
1976
Age
44
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 2019 was $393,524 with net operating inc of $198,398 which is a 8.8% cap rate with the ability to raise rents and add value. 29 units were recently renovated in 2020 and there have been significant recent capital improvements totaling $318k over the last few years including new HVAC, appliances, a new roof on the 20 unit building, porches, etc. On-site management office, on-site laundry with new cashless washer/dryers installed, large maintenance storage space, camera monitoring system. All-electric complex. Building is currently 85% occupied and rising, historical occupancy above 90%.

Additional Information

Gross Operating Income
393524
Total Expenses
$195,126
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
45.76
Taxes Paid
43769
Buyer's Agent Commission
2
Selling Terms
Cash, Conventional, Government, Private, VA, Other

Mortgage Calculator

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Listing courtesy of Invest St. Louis. Selling Office: Invest St. Louis.

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