UPDATED:
Key Details
Property Type Multi-Family
Sub Type 5 Family or More
Listing Status Active
Purchase Type For Sale
Square Footage 51,640 sqft
Price per Sqft $83
Subdivision City/St Louis
MLS Listing ID 25057527
Style Apartment Style,Historic
Year Built 1930
Annual Tax Amount $17,632
Lot Size 0.963 Acres
Acres 0.963
Property Sub-Type 5 Family or More
Property Description
3801-3811 Keokuk St. - 24 units
3858 Bamberger Ave. – 24 units
3763 Keokuk St. – 2 units
4054-4064 S. Grand Blvd. – 24 units
Summary below:
• Attractive unit mix – Studios, One-Bedroom, & Two-Bedroom floor plans.
• Avg. in-place rents are significantly below market rate – offers immediate upside w/ rent increases.
• Economies of Scale – owning multiple properties w/in close proximity allows for centralized management, shared maintenance resources, & reduced operational expenses.
• Asking Price of $4,300,000 ($58k per unit).
• Projected Year 1 NOI of $346,367 w/ reserves, so 8% cap on proforma year one.
Location
State MO
County St Louis City
Area 3 - South City
Interior
Heating Forced Air
Cooling Central Air
Flooring Hardwood, Linoleum
Fireplace N
Exterior
Parking Features false
View Y/N No
Building
Water Public
Structure Type Brick
Schools
Elementary Schools Oak Hill Elem.
Middle Schools Long Middle Community Ed. Center
High Schools Roosevelt High
School District St. Louis City
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition Standard
