7401 S Broadway

St Louis, MO, 63111

$3,750,000

$3,750,000
Active
Active
 - For Sale
property_type
Commercial
calendar
Built 1892
Investment opportunities like this seem to be rare in the current market: turn-key (truly), attractive ROI, and good property management. There are 9 buildings in this 36-unit package: 13 one bed units, 16 two bed units, 3 three bed units, and 4 commercial spaces. All are located within a ¼ mile radius of one another in the Carondelet area and all underwent major renovations about 12 years ago (roof, plumbing, electrical, kitchens, baths, etc.). Due to their condition, amenities, and layouts, these properties easily stay rented - currently fully occupied except for 1 apt for showings. With current financials, this portfolio offers a nice return on investment at 5.5+% cap rate. The good news is that current rents are averaging around 5% below market rate creating an opportunity for additional income generation (and this is using conservative rent increases so perhaps there is more wiggle room). If you’ve been looking - THIS IS THE ONE! Duplicate Listing #22051358.
MLS® ID:
22052300
Updated:
10/4/22

Interior Features

Total Bedrooms
0
Total Bathrooms
0
Cooling
Electric
Heating
Forced Air

Exterior/Building Features

Roof
Asphalt, Flat, Pitched
Sewer
Public Sewer

Other Property Details

Area Name
South City
Taxes
$26418
Tax Frequency
per YEAR
Garage
No
Parking
Other
View
N
County
St Louis City
Utilities
Electricity Available, Gas to Site, Water Available, Sewer Available
Water Source
Public
Pool
No
Zoning
Neighborhood Commercial-F

Courtesy of St. Louis Real Estate Society

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