$2,225,000

9640 Diamond

St Louis MO, 63137

Description

Opportunity to purchase a large well maintained 86 unit apt complex located on secluded 1.5-acre lot overlooking the Mississippi River. This 46,442 sq ft complex is comprised of 68 one-bed units, 17 two-bed units & one efficiency unit. The total gross inc for 2018 was $400,928 with net operating inc of $205,823 which is a 9% cap rate with the ability to raise rents and add value. 81 units were recently renovated and there have been significant recent capital improvements totaling $233k over the last few years including new HVAC, appliances, a new roof on the 20 unit building, porches, railings and staircases were replaced along with plumbing stacks, tuckpointing and a retaining wall. On-site management office, on-site laundry, large maintenance storage space, camera monitoring system. All-electric complex. 78 of the 86 units are rented, a 91% occupancy rate. Rare opportunity to purchase large profitable multi-fam complex with growth potential. Property mang co interested to stay on.

Details

MLS#19067306
Sub-TypeResale
StatusActive
Year1976
Days On Site13

Features

SQ Feet46,442
Building(s)1

Market Activity 63137

Loading Form

Loading Form

Area Information

StateMO
CountySt Louis
CitySt Louis
Zip Code63137
AreaRiverview Gardens
Listing VS Median (in 63137)
Price:
$2,225,000
low | high
Med:
$47,125
100% of Average
SqFt:
46,442
low | high
Med:
864
100% of Average
$ / SqFt:
$48
low | high
Med:
$55
35.750854436985% of Average
On Site:
13
low | high
Med:
54.5
23.853211009174% of Average
Listing Updated: 09/17/2019
MLS Number: 19067306
Listing Provided By:
Jordan Schoen  of  Invest St. Louis