Attention value-add buyers! - rare opportunity to own one of the last remaining value-add high-rise buildings in the Central West End, situated on prestigious Lindell Boulevard. The Leonardo underwent a gut-rehab in the 1980's so all the building systems are modern - plumbing, electric, elevator, windows, drywall finishes. The value-add is an easy kitchen/bath/flooring/lighting/ laundry remodel. Occupancy hovers near 100% so you'll have stable rental income while unit upgrades are completed. Plus, a new elevator and new roof eliminate 2 of the largest rehab costs from your budget. The Leonardo has 2 ground floor office spaces (leased), 34 apartments (17 one bed and 17 two bed), plus a rooftop cell tower earning $1,342/mo. All-electric building with separate furnaces and water heaters keep the owner costs down. Midway between Forest Park & Barnes/Jewish/Childrens hospitals 6 blocks west and St. Louis University to the east. Upper floors have unobstructed, breathtaking views.
Courtesy of RE/MAX Results
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