225 W Steins ST new Save Request In-Person Tour Request Virtual Tour
St Louis,MO 63111
Key Details
Property Type Multi-Family
Sub Type 5 Family or More
Listing Status Active
Purchase Type For Sale
Square Footage 4,217 sqft
Price per Sqft $106
Subdivision John C Ivorys Sub
MLS Listing ID 25076014
Style Low/1-2
Year Built 1870
Annual Tax Amount $1,925
Lot Size 5,967 Sqft
Property Sub-Type 5 Family or More
Property Description
This renovated property features 6 truly, turn-key, 1 BR units that stay in demand & are easily rented. The property underwent a wholesale renovation roughly 15 years ago with updates to all major components (roof, plumbing, electrical, HVAC, windows, etc.). All units offer updated kitchens with dishwashers, spacious bathrooms with tub/ shower combo, central heating & cooling, and in-unit Washer/ Dryer). Plus, the building is all electric which is another big selling point for tenants. Over half the building is occupied by long-term tenants, some of which have been there 5+ years. There is off-street parking on a concrete pad in back. All tenants are on market rate leases and gross monthly revenues surpass $4,500 at 100% occupancy. At current financials (let's repeat that - at current financials - not some dream world), the cap rate is exceeding 8%. The building is located in the Historic, Carondelet neighborhood within walking distance to several desirable amenities: Upgraded YMCA Rec-Plex; Grocery & Retail Stores; Carondelet Park with lake, trails and playgrounds; Great Rivers Greenway trails; locally-owned restaurants like Stacked & Perennial Artisan Ales; and easy access to public transportation. This is a stable, cash-flowing investment that you'll want to add to your portfolio! 1 unit was built-out as ADA compliant. Seller is currently keeping 1 unit vacant for showings but it will likely fill quickly. Make your appointment to view soon! This property can be sold together as a package with MLS #s: 25076015 & 25065186
Location
State MO
County St Louis City
Area 3 - South City
Interior
Heating Electric,Forced Air
Cooling Central Air,Electric
Laundry In Unit
Exterior
Parking Features false
View Y/N No
Roof Type Shingle
Building
Story 2
Water Public
Structure Type Brick
Schools
Elementary Schools Woerner Elem.
Middle Schools Lyon-Blow Middle
High Schools Roosevelt High
School District St. Louis City
Others
Acceptable Financing Cash,Conventional
Listing Terms Cash,Conventional
Special Listing Condition Standard