7411 S Broadway, St Louis, MO 63111

$3,500,000
List Price
$3,500,000
Days on Market
25
MLS#
MAR22069437
Status
ACTIVE
Subdivision
Eilers Add
Municipality
St. Louis City
School District
St. Louis City
County
St Louis City
Year Built
1899
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 great condition, amenities, and layouts, these properties easily stay rented - currently fully occupied except 1 unit for showings. With current financials, this portfolio offers a nice return on investment at 6.16+% 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!

Additional Information

Elementary School
Woodward Elem.
Jr. High School
Lyon-Blow Middle
Sr. High School
Roosevelt High
Construction
Brick
Parking Description
On Street, Other, Parking Lot, Unassigned
Cooling
Ceiling Fan(s), Electric
Sewer
Public Sewer
Heating
Forced Air
Water
Public
Heat Source
Electric
Taxes Paid
26418
Selling Terms
Cash Only, Conventional

Mortgage Calculator

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Calculator source: Real Geeks

Listing courtesy of St. Louis Real Estate Society.

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