St Louis Fourplex, 11 Cap
| Dutchtown Fourplex, 11 Cap! | $134,900 |
| 4242 Dewey Avenue, St Louis, MO 63116 |
Property Summary:Legal Description: C.B. 2644 Dewey 42ft x 127 Ft Bingham Est Addition pt lots 5&6 Bnd S-50 Ft 0 7/8 In N NL Bingham
Located at Dewey/Bingham; safe and up in coming neighborhood
Low Maintenance, Extensive renovation (Roof, Mechanical, Plumbing, Electrical, Units) in 2013. All brick exterior, new exterior windows.
Large open spacious units rent themselves. Low turnover.
Strong Upside Potential! Market is $550-$600 per unit.
Exceeds the 1% rule by 50% with current rents. Raise rents and have a 2% property!
| Property at a Glance | ||||
| Property Type: | Fourplex | Units: | 4 | |
| Building Size (SF): | 3,536 | Unit Size (sf) Lot Size (acre) | 884 (1 BR units) 0.12 (+/-) | |
| Construction: | Brick on Concrete Foundation/Full Basement | Roof/Windows: | TPO 60mil roofing system, 15 year warranty/New vinyl | |
| Year built/Renovation | 1925/2013 | Parking: | Street | |
| Occupancy: | 100% | Price: | $134,900 | |
| CAP (act/mar) | 10.9% | 13.9% | Price/Unit: | $33,725 |
| Unit Mix Information | ||||
| # Units | Type | Actual | Market | |
| 4 | 1BD/1Bth | $475-$500 | $550-$600 | |
| Annual Income (Total Property) | ||||
| Gross Income | $23,280 | $27,600 | ||
| Vacancy Allowance (5%) | $1,164 | $1,380 | ||
| Effective Gross Income | $22,116 | $26,220 | ||
| Proforma Expenses | ||||
| Maintenance (8%) | $2,208 | |||
| Insurance (Actual 2016) | $1,046 | |||
| Property Taxes (Actual 2016) | $1,020 | |||
| Management (varies) | $1,700 | |||
| Gas/Electric | $0 | |||
| Water/Sewer/Trash (based on trailing 6 month) | $1,429 | |||
| Total Expense: | $7,403.00 | |||
| Net Operating Income: | $14,713 | $18,817 | ||
| Feel Free to drive the property, but under NO CIRCUMSTANCES MAKE ANY CONTACT WITH THE TENANTS OR ONSITE MANAGEMENT. FOR MORE INFORMATION CONTACT DEREK PETERSEN AT 760.517.6490. ONLY SERIOUS INQUIRIES PLEASE. | ||||
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