St Louis Fourplex, 11 Cap

[Derek Petersen]

Dutchtown Fourplex, 11 Cap!	$134,900
4242 Dewey Avenue, St Louis, MO 63116

Property Summary:

Legal Description: C.B. 2644 Dewey 42ft x 127 Ft Bingham Est Addition pt lots 5&6 Bnd S-50 Ft 0 7/8 In N NL Bingham

Located at Dewey/Bingham; safe and up in coming neighborhood

Low Maintenance, Extensive renovation (Roof, Mechanical, Plumbing, Electrical, Units) in 2013. All brick exterior, new exterior windows.

Large open spacious units rent themselves. Low turnover.

Strong Upside Potential! Market is $550-$600 per unit.

Exceeds the 1% rule by 50% with current rents. Raise rents and have a 2% property!

Property at a Glance
Property Type:	Fourplex	Units:	4
Building Size (SF):	3,536	Unit Size (sf) Lot Size (acre)	884 (1 BR units) 0.12 (+/-)
Construction:	Brick on Concrete Foundation/Full Basement	Roof/Windows:	TPO 60mil roofing system, 15 year warranty/New vinyl
Year built/Renovation	1925/2013	Parking:	Street
Occupancy:	100%	Price:	$134,900
CAP (act/mar)	10.9%	13.9%	Price/Unit:	$33,725
Unit Mix Information
# Units	Type	Actual	Market
4	1BD/1Bth	$475-$500	$550-$600
Annual Income (Total Property)
Gross Income	$23,280	$27,600
Vacancy Allowance (5%)	$1,164	$1,380
Effective Gross Income	$22,116	$26,220
Proforma Expenses
Maintenance (8%)	$2,208
Insurance (Actual 2016)	$1,046
Property Taxes (Actual 2016)	$1,020
Management (varies)	$1,700
Gas/Electric	$0
Water/Sewer/Trash (based on trailing 6 month)	$1,429
Total Expense:	$7,403.00
Net Operating Income:	$14,713	$18,817
Feel Free to drive the property, but under NO CIRCUMSTANCES MAKE ANY CONTACT WITH THE TENANTS OR ONSITE MANAGEMENT. FOR MORE INFORMATION CONTACT DEREK PETERSEN AT 760.517.6490. ONLY SERIOUS INQUIRIES PLEASE.