9,632 SqFt
9,632 SqFt
Key Details
Property Type Multi-Family
Sub Type 5 Family or More
Listing Status Pending
Purchase Type For Sale
Square Footage 9,632 sqft
Price per Sqft $72
Subdivision Hornsby Addition
MLS Listing ID 25016792
Style Low/1-2
Year Built 1964
Annual Tax Amount $7,210
Lot Size 0.557 Acres
Acres 0.5568
Lot Dimensions 201X121
Property Sub-Type 5 Family or More
Property Description
All 18 units in 2 turnkey buildings are occupied & generating excellent cashflow - 2024 NOI was $100,000+++. Plus, there is an opportunity to make this 18-unit into a 24-unit if desired! The (4) 4-bed / 2 ba units could easily be reconverted back into 8 units, plus 2 units could be recreated in the lower level to make 24 units, as originally designed. Gated complex w/ parking. New roofs on both buildings. New sewer lateral line. Units have already been renovated but could be made even nicer for higher rents. There was a small fire a couple years ago that affected 2 units; both have been fully remedied and renovated, with proper permits. Contractor bids for ~ $450,000 to convert back to 24-units, add storage lockers & 2 coin laundry rooms (in each building's lower level) to increase cashflow, completely remodel all units, and update some mechanicals. All of that could be deferred or entirely skipped. The options are endless. Slam dunk on cashflow. Owner selling due to living out of state. Landlord pays trash, water & sewer. Tenants pay power.
Offers should include:
1. Closing in 2025
2. Upfront $3,000 nonrefundable earnest money and additional $7,000 nonrefundable earnest money after satisfied Inspection Period
3. $700,000+ purchase price
Location
State MO
County St Louis City
Area 5 - North
Rooms
Basement 9 ft + Pour, Concrete, Daylight, Egress Window, Exterior Entry, Full, Roughed-In Bath, Unfinished, Walk-Out Access
Interior
Heating Forced Air, Electric
Cooling Central Air, Electric, Window Unit(s)
Fireplace Y
Appliance Electric Water Heater
Laundry Common Area, Washer Hookup
Exterior
Exterior Feature Balcony
Parking Features false
Fence Fenced, Full, Gate, Security, Wrought Iron
Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
View Y/N No
Private Pool false
Building
Lot Description Cleared
Sewer Public Sewer
Water Public
Structure Type Brick,Brick Veneer,Stone Veneer
Schools
Elementary Schools Herzog Elem.
Middle Schools Yeatman-Liddell Middle School
High Schools Vashon High
School District St. Louis City
Others
Ownership Private
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition Standard
Real Estate Advisor | License ID: 2004026979
+1(314) 817-8178 | julie@lovethelou.homes