Four blocks from St. Louis University with neighboring new construction homes being built. Great tenant base and future potential development. Lot to the South of the building also listed separately. All 17 units are efficiency apartments; approximately 13 have been updated with high most recent rent of $580. Owner also just started implementing a $30 fee for sharing utilities. The 50ft lateral line has just been replaced. Roof and Boiler installed in 2017. Units are individually metered electric. Property is offered at a 7.27% cap rate with a 12% Cash on Cash and a 10% Proforma Cap Rate. Call listing agent for additional information for this well positioned cash flowing property's Offer Memo. Property includes 2 adjacent lots of over 4,000 sq ft. Great for additional parking lot. First showing is July 15th by appointment only.
Listing courtesy of Apartment Advisors of America LLC.
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