449-463 Olian. Well maintained side by side 4 fams w/ large 3 story 2 bed 1.5 bath town-home units w/ 1,000 sq ft above ground + 500 sq ft of lower level finished space in basement. Located in quiet sub div in Hazelwood West district buildings fully leased w/ gross rents of $6,880 a month with projected 2019 gross rental income of $80k, projected expenses of $23k and a projected net income of $57k, a 9% cap rate. 2018 income was $75k with expenses of $21k w/ a net inc of $54k. Plenty of potential w/ the ability to raise rents. The current rents range from $800- $925, if rents in all of the units were raised to $925 the buildings would generate an additional $520/month & $6,240/year for a net inc of $61k, a 10% cap rate. Easy to rent w/ updated kitchens & baths, in unit laundry, off street parking w/ dedicated parking spot, newer windows throughout, newer roofs, some newer furnaces and condensers. There is a park w/ playground directly behind buildings. Buildings to be sold together.
Listing courtesy of Invest St. Louis.
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