Skip to content
Archived about 2 years ago

$425,000

rooms 1 ba 5000 sqft

9982 South Broadway, Saint Louis, MO 63125

Commercial Commercial Occupied Off MLS

Current Rent **

$5,940

Projected Rent **

$6,300

Estimated Cap Rate *

Pro Only

Estimated Cash on Cash ROI *

Pro Only

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

Looking for an agent?
Start a rental property calculator report
Use the rental calculator to determine this property's potential profit.
Analyze this property

* The cap rate and cash on cash return calculations found on BiggerPockets Listings are estimated and designed to be used for informational and educational purposes only, and when used alone, do not constitute investment advice. They assume 3 months worth of expenses and estimate taxes and insurance. BiggerPockets recommends that you seek the advice of a real estate professional before making any type of investment. The results presented may not reflect the actual return of your own investments. BiggerPockets is not responsible for the consequences of any decisions or actions taken in reliance upon or as a result of the information provided by these tools. Furthermore, BiggerPockets is not responsible for any human or mechanical errors or omissions.

** 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.