815 Ann, St Louis, MO 63104

$7,600,000
List Price
$7,600,000
Days on Market
24
MLS#
MAR22037009
Status
ACTIVE
Lot Size
69,260
Sq. Ft. Above
61,946
Acres
1.59
Subdivision
Soulard
Municipality
St. Louis City
School District
St. Louis City
County
St Louis City
Year Built
1906
Listing Type
Commercial

Property Description

Exquisite Trophy property in the heart of Soulard***36 loft-style apartments in an iconic Ittner-designed former school building***Existing Fannie Mae financing to be assumed - 3.62% interest with 8.5 years remaining - well below current market rates!***Gracious entryway and hallways with impressive scale and elegance - feels like a quality hotel***top-to-bottom renovation in 2017, loft-style apartments with 10-12+ foot ceilings, huge windows providing ample natural lighting, refinished concrete and original hardwood floors, original built-ins from former school days, designer lighting, gym, numerous outdoor spaces on the 1.59 acre lot. Solar panels reduce building electric costs, 33 car gated, secured parking lot plus the nicest 11 car garage you'll ever see. 18.43% projected 10 year IRR with existing loan assumed. 6.21% cap rate and 10.87% cash-on-cash on Y1 proforma. 6.15% cap on May RR. Add in-unit laundry to boost cash-on-cash returns into the 13-14% region. Qualified buyers only

Additional Information

Elementary School
Peabody Elem.
Jr. High School
Peabody Elem.
Sr. High School
Vashon High
Association Fee
$[u'0']
Construction
Brick
Parking Description
Space/Unit - 1, Parking Garage, Security Parking
Lot Dimensions
140X462X154X490
Amenities
Some Balc/Some Terrc, Fitness Center
Cooling
Electric
Sewer
Public Sewer
Heating
Forced Air
Water
Public
Heat Source
Electric
Price Per Sq. Ft
122.69
Taxes Paid
12948
Selling Terms
Assumable

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Listing courtesy of RE/MAX Results.

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