5705 South Broadway, St Louis, MISSOURI 63111

$995,000
List Price
$995,000
Days on Market
101
MLS#
20021240
Status
ACTIVE UNDER CONTRACT
Lot Size
40,816
Acres
0.937
Year Built
1926
Age
94
Subdivision
Eilers Surv/Carondelet
Municipality
St. Louis City
County
St Louis City
Listing Type
Multifamily

Property Description

Castle-looking structure overlooking the park and the Mississippi River. The unique architectural style gives a royal appearance especially sitting high upon a hill. Balconies afford a sunrise view facing east. 24 units with a mix of 1-bedroom+ and studios with interesting floor plans and more than normal closet / storage space for their size. Rents average around $550 per month. Garages provide additional rental income. Enter the Off-street parking lot from Pennsylvania Street up to the small back yard area. This under-performing investment has been improved immensely and is posed to turn a profit. Big upside potential now. There was a pipe break which put 3 units out of service & the owner has a pending claim for the damage of $40,000 which could be assigned to the buyer. Priced at a 7.78 Cap rate. A Proforma is an attached document to this listing.

Additional Information

Gross Operating Income
122640
Total Expenses
$40,000
School District
St. Louis City
Elementary School
Woodward Elem.
Jr. High School
Lyon-Blow Middle
Sr. High School
Roosevelt High
Construction
Brick/Stone Msn Pred
Parking Description
Parking Lot, Unassigned
Cooling
Central-Electric, Window Unit(s)
Sewer
Public
Heating
Forced Air
Water
Public
Heat Source
Gas
Taxes Paid
13186
Buyer's Agent Commission
3
Selling Terms
Cash, Conventional, Seller May Pay SmCls

Mortgage Calculator

Amount of Loan
Annual Interest Rate
%
Term of Loan
Years

Does not include any taxes or fees.
Please consult a financial professional.
Calculator source: Real Geeks

Listing courtesy of RE Source, LLC.

Listings displaying the MARIS logo are courtesy of the participants of Mid America Regional Information Systems Internet Data Exchange. Information From Third Parties, Deemed Reliable But Not Verified