Remarks

This portfolio features seven diligently maintained condos located close to each other in Hazelwood on Sieloff Drive. All 7 units are currently occupied. These condos are all two-bedroom, one-bathroom units with the exception of one 3-bedroom, 1-bathroom unit. Many of these units have had the same tenants for several years and are in good condition.

The current monthly rental income totals $63,900 annually with current annual expenses of $21,666, resulting in a net annual income of $42,234. At the current list price, assuming 80% LTV 30yr amortization and 7% rate this condo portfolio is lender friendly, exceeding a 1.5 DSCR. There is potential for even higher net income as the units are currently rented below market rates. Property maintenance is hassle-free with the condo association handling all exterior repairs, landscaping, and parking areas. Amenities include off-street parking, in-unit or on-site laundry, and all-electric utilities, covering water, trash, and gas expenses.

Details

MLS#: 25016936
Price: $420,000

Style: Multi-Family 5+
Sq Ft: 5722.0
Year Built: 1966

County: St Louis
Subdivision: Hazelcrest Iii Condo
Lot Size: 565x1266x431x59x58x182x82x1514
Tax Fee: 632

School Elementary: Combs Elem.
School Middle: Cross Keys Middle
School High: Mccluer North High
School District: Ferguson-Florissant R-II