Remarks

This 24-unit apartment complex is located in the heart of St. Clair in Franklin County situated near I-44, Gravois, and plenty of shopping and other amenities,. It features two well-maintained buildings constructed in 1986, offering a total of 18,886 square feet of revenue-generating potential. Unit mix is 8 1-bed/1-bath (567 sf) and 16 2-bed/1-bath units (714 sf). About 50% have been updated with LVP flooring and stainless appliances; others with carpet/vinyl flooring and mixed appliances provide value-add opportunity. Property features newer vinyl windows, exterior entrance, electric water heaters, circuit breaker panels, and 48 parking spaces. Coin-operated laundry facility generates $290/month (included in income).  Gross income = 187,584, expenses = 45,884, and NOI = 141,700 - a 8.33% cap rate at asking price.

With its location, updates, 100% occupancy, and NOI, this property has plenty to offer. Ask your agent/broker for the financials located in the supplements.

Details

MLS#: 25003997
Price: $1,700,000

Style: Multi-Family 5+
Sq Ft: 18866.0
Year Built: 1986

County: Franklin
Subdivision: none
Lot Size: IRR
Tax Fee: 12413

School Elementary: St. Clair Elem.
School Middle: St. Clair Jr. High
School High: St. Clair High
School District: St. Clair R-XIII