7401 S Broadway, St Louis, MO 63111

$3,750,000
List Price
$3,750,000
Days on Market
55
MLS#
MAR22052300
Status
ACTIVE
Subdivision
Motiers
Municipality
St. Louis City
County
St Louis City
Year Built
1892
Listing Type
Commercial

Property Description

Investment opportunities like this seem to be rare in the current market: turn-key (truly), attractive ROI, and good property management. There are 9 buildings in this 36-unit package: 13 one bed units, 16 two bed units, 3 three bed units, and 4 commercial spaces. All are located within a ¼ mile radius of one another in the Carondelet area and all underwent major renovations about 12 years ago (roof, plumbing, electrical, kitchens, baths, etc.). Due to their condition, amenities, and layouts, these properties easily stay rented - currently fully occupied except for 1 apt for showings. With current financials, this portfolio offers a nice return on investment at 5.5+% cap rate. The good news is that current rents are averaging around 5% below market rate creating an opportunity for additional income generation (and this is using conservative rent increases so perhaps there is more wiggle room). If you’ve been looking - THIS IS THE ONE! Duplicate Listing #22051358.

Additional Information

Construction
Conventional
Parking Description
Other
Cooling
Electric
Sewer
Public Sewer
Heating
Forced Air
Water
Public
Taxes Paid
26418
Selling Terms
Cash Only, Conventional

Mortgage Calculator

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Listing courtesy of St. Louis Real Estate Society.

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