Remarks

This property has a total of 11,536 sq. ft. across three buildings. There is opportunity to significantly enhance property value and cash flow by increasing below-market rents to align with current market rates, coupled with optimizing property management efficiencies for improved operational performance. There is the added potential to reduce or entirely eliminate utility expenses by billing tenants for their usage. All 2-bedroom, 1-bathroom of the units have been recently updated. Significant improvements include a roof less than 5 years old and a newly redone parking lot within the past 2 years. Safety is a priority, with onsite cameras located at the complex. The property includes seven basements with 2 apartments sharing one basement. There are 14 washer and dryer hookups (no machines currently in place). The current rents total $8,965/month, with potential for increases. The nearby 2202 Hord, 63136 recently sold for $60,000 per unit, with each unit rented at $605/month.

Details

MLS#: 25017274
Price: $890,000

Style: Multi-Family 5+
Sq Ft: 11536.0
Year Built: 1960

County: St Louis
Subdivision: Chambers Forest
Lot Size: 98x411x98x413
Tax Fee: 8939

School Elementary: Griffith Elem.
School Middle: Ferguson Middle
School High: Mccluer High
School District: Ferguson-Florissant R-II