$425,000
9982 South Broadway, Saint Louis, MO 63125
Current Rent **
$5,940
Projected Rent **
$6,300
11 Apartment Building, great and quite neighborhood
This is an excellent Off-Market real estate purchase of an 11-unit apartment building. The units are below market ranging from $425 to $495 per unit. The Apartment building consists of 11 1bd/1bath (500 sq. ft) studio units and a laundry room inside the building.
All the units are all-electric services from the water heater, wall heater, window AC units, stove, and refrigerator. As of the time of writing, the building is 65% occupied. All the units beside one have been updated, and all the units have passed inspection and are ready to be leased.
The Asking price is $425,000
The tenant pays for electric, and the owner pays for water, trash, sewer, hallway lights, and internet (for the camera system).
Currently, there is a 25-year warranty and a brand new TPO roof, multiple brand new water heaters, stoves, and refrigerators in the building.
The owner will give preferences to all-cash buyers, then subject two and seller financing depending on terms.
Please contact Mr. Bowles with any questions or interests.
Projected Potential income: $65,340
Laundry : $2400
Expenses: (8%) $5227
Utilities: $5640
Property Taxes $7900 for (2022)
Insurance $3500
Net Operating Income: $45,473
Location:
9982 South Broadway, Saint Louis, MO 63125
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** Current rent and projected rent are provided by the lister.
† Rental comps are pulled by looking at property characteristics (beds, baths, structure type), date the rent listing was captured, and proximity to the searched location.
‡ Confidence levels range from low to very high. Confidence is determined by the number of recent and relevant comparable properties for any given search. A very high confidence level indicates a high number of recent and similar rental listings.
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