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.
Courtesy of St. Louis Real Estate Society
Listings displaying the MARIS logo are courtesy of the participants of MO - Mid America Regional Information Systems (MARIS) Internet Data Exchange. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor The Dooley Rowe Network shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
©2022 All rights reserved.