449 Olian, Hazelwood, MISSOURI 63042

$599,000
8,020
SqFt
List Price
$599,000
Price Change
▼ $31,000 1572554938
Days on Market
55
MLS#
19076317
Status
ACTIVE UNDER CONTRACT
Living Sq. Ft
8,020
Lot Size
24,219
Sq. Ft. Above
8,020
Acres
0.556
Year Built
1970
Age
49
Subdivision
Joi Manor
Municipality
Hazelwood
County
St Louis
Listing Type
Multifamily

Property Description

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.

Additional Information

Gross Operating Income
75210
Total Expenses
$20,231
School District
Hazelwood
Elementary School
Mcnair Elem.
Jr. High School
West Middle
Sr. High School
Hazelwood West High
Construction
Brick Veneer Predom, Brick/Stone Msn Pred
Parking Description
1 Space/Unit
Cooling
Central-Electric
Sewer
Public
Heating
Forced Air
Water
Public
Heat Source
Gas
Price Per Sq. Ft
74.69
Taxes Paid
7679
Selling Terms
Cash, Conventional, Government, Private

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Listing courtesy of Invest St. Louis.

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