Wholesaler · Lake Saint Louis, MO · Member since 2016 · 21 posts · 4 votes
11 Unit Apartment Building Fully Occupied and Well Maintained
5622 W Florissant St Louis, MO 63120
Asking $268000
Generating $4550 Monthly, Fully Occupied
10.8% Cap
Broker Price opinion at $375000
Priced below value for quick sale
Lots of equity at purchase
Property has been inspected and needed very little deferred maintenance.
Property management in place for the out of area investor.
Repair estimate $2870 Property management would handle the repairs.
2 story all brick building with 11-1 bedroom units. Highly visible on a major road with high traffic count and close to public transportation. Long term tenants in place. Off street parking lot in the rear as well as on street parking in front of the building. A health clinic was recently built next door.
Excellent opportunity for a high return, fully occupied building in good condition that is priced well below recent valuation by a licensed agent.
The St Louis market is extremely hot right now. Historically in any market with such low purchase prices and high rents there is appreciation due to investor activity. The numbers speak for themselves. Priced at less than $25k per door for a cash investor who can close quickly.