8828 Riverview BLVD Active Save Request In-Person Tour Request Virtual Tour
St Louis,MO 63147
Key Details
Property Type Multi-Family
Sub Type 2-4 Units
Listing Status Active
Purchase Type For Sale
Square Footage 3,264 sqft
Price per Sqft $91
Subdivision Veronica Park Add
MLS Listing ID 25068562
Style Traditional
Year Built 1941
Annual Tax Amount $550
Lot Size 4,830 Sqft
Property Sub-Type 2-4 Units
Property Description
8828 Riverview Blvd is an uncommon investment opportunity. What makes it so? The building is positioned in a neighborhood sweet spot & filled with good tenants. The monthly rental amounts are at or near market rates (see attachment). The monthly expenses are low (especially real estate taxes - a variable outside of investor's control). The collection of various systems serving the building have been replaced or updated by licensed technicians under permit (i.e. roof 2023, HVAC systems 2019, plumbing 2022, electrical 2022, 24, 25,). The investment returns are high, 9.545% Capitalization (Cap) Rate at offer price. Deploying a Ratio Utility Billing System (RUBS) would lower your expenses further and elevate the Cap rate to 10.527%.
The building was constructed in 1941, each apartment is a one bedroom/one bathroom unit. These apartments have a modern floor plan which feature secluded bedrooms, a separate space for dining, and a generous living room. The original hardwood floors are the star of the show, beautiful, long lasting and durable: The kitchens feature newer shaker style white cabinets with upgraded plywood bases, updates include an over the range microwave. Deep thought and planning have gone into this investment which in turn will, effectuate a strong performance now, and long into the future. PLUS, you have the ability to watch over your investment from anywhere in the world, literally. High quality surveillance lets you peek in on the investment at any time.
The building is full, showings will be available with an accepted contract. Additional photographs of the apartments and improvement projects are available in the attachments.
Location
State MO
County St Louis City
Area 5 - North
Interior
Heating Forced Air,Natural Gas
Cooling Central Air,Electric
Flooring Ceramic Tile,Hardwood,Linoleum
Fireplaces Type None
Laundry In Basement
Exterior
Exterior Feature Balcony
Parking Features false
Fence None
Pool None
Utilities Available Electricity Connected,Natural Gas Connected,Sewer Connected,Water Connected
View Y/N No
Roof Type Architectural Shingle,Asphalt,Pitched/Sloped
Building
Lot Description Level,Rectangular Lot
Story 2
Water Public
Structure Type Brick
Schools
Elementary Schools Earl Nance Sr. Elem.
Middle Schools Yeatman-Liddell Middle School
High Schools Vashon High
School District St. Louis City
Others
Acceptable Financing 1031 Exchange,Cash,Conventional
Listing Terms 1031 Exchange,Cash,Conventional
Special Listing Condition Standard