24 Unit Complex. All Occupied. 11% Cap

[Mark Callicott]

24 Unit Complex

Price $695000

$11105 Monthly

100% Occupancy

11% Cap

Performing with rental history

Have available: BPO, Inspection report, repair estimate, financials, etc.

This complex is located in the Tower Grove South Area of St Louis, MO. This neighborhood was rated the best restaurant neighborhood in St Louis. The management company we had look at determined it was well maintained and needed very little deferred maintenance($2950). Goldbridge management is in place for the out of area investor to handle repairs, and handle all aspects of the property management.

Property was purchased for $875000 in 2005

Another 24 unit complex just sold in August 2 blocks away for $899000

Management says this is a C class property but is in a B class area and there is the opportunity to increase rents as well as take advantage of the garage spaces in the building for additional rental income. This building is mostly 1 bed units and the tenants pay utilities other than sewer/water. It is next door to a nice park and the street it boarders has a median with planters which adds to the curb appeal, the building has attractive architectural features, and is an excellent investment opportunity.

The price to rent ratio in St Louis is incredible and this is an excellent investment at current rent rates with the opportunity to increase rents immediately by 10% based on surrounding rent rates.

Feel free to contact me for additional information.

[email protected]

5736297092