Remarks

Extremely rare 36 unit gut rehabbed apartment complex in the heart of the Central West End. Walk to SLU, Wash U, Barnes/BJC, Forest Park and much more. The building is an even split: 17 1 beds and 17 2 beds + 2 extra offices or studio units on the first floor. The buildings were completely gutted in the 80's while preserving tons of historic charm. All of the systems have been updated: new PVC, copper pipes, forced heat/central air, a brand new elevator a few years back and a drywall finish throughout. The apartments are spacious with an open floor plan, large balcony and an unobstructed view of the arch, forest park or cathedral basilica. The property with in-place NOI $302,000 is a 8.4% CAP RATE; the building stays 100% leased with mostly international students from SLU. Current rents are about $350 below market; Add some personal touches, update kitchens & baths or just cash your rent checks – perfect value for someone looking to live & invest in a Class A neighborhood.

Details

MLS#: 25008695
Price: $3,600,000

Style: Multi-Family 5+
Year Built: 1922

County: St Louis City
Subdivision: Lindell Add 02
Lot Size: 57X212
Tax Fee: 42252

School Elementary: Pamoja Prep / Cole
School Middle: L'Ouverture Middle
School High: Sumner High
School District: St. Louis City