$4,730,000 $25,392 est/mo Sourced by Back At You

763 Chamberlain Place,St Louis, MO 63119

St Louis MO, 63119

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Description

Fully renovated 38 unit apartment building in Webster Groves, 100% occupied with 20 units already leased at proforma rents. Currently the property is bringing in $41,618/month. The 1beds are leasing for $1075/month to $1210/month. The 2beds are leasing for $1350/month to $1425/month. EVERY APARTMENT has IN UNIT LAUNDRY, stainless steel appliances, white shaker cabinets, granite counters, tiled bathrooms and are a great size- extremely easy to lease. 36 GARAGE PARKING spaces + over a dozen off street parking spaces. The property has a pool in the center of the gated courtyard. If you annualize the current rent roll, factor in 5% vacancy and use the 2023 expenses- you arrive at a CAP RATE OF 7.83%. Once you bring all the units to proforma rents, you will be over a 9% cap rate. An in-place cap rate of a building this nice in Webster Groves is truly unheard of. This is extremely popular for Webster University students as they can walk to class. Ask for T12, rent roll and appraisal.

Details

MLS#24019919
Listing TypeFor Sale
StyleTown House
Sub-TypeResale
StatusActive
Year1960
Days On Site12
Listing Provided ByThe Agency | Anthony Klier

Features

Units38
Acreage1.71

Market Activity 63119

 Listings courtesy of Maris MLS as distributed by MLS GRID. 

Based on information submitted to the MLS GRID as of April 16, 2024 at 1:04:45 AM PDT All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

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Learn More About This Property

StateMO
CountySt Louis
CitySt Louis
Zip Code63119
AreaWebster Groves
Community NameJohn D Finney
School DistrictWebster Groves High
Elementary SchoolAvery Elem.
Middle SchoolHixson Middle
High SchoolWebster Groves High
Listing VS Median (in John D Finney)
Price:
$4,730,000
low | high
Med:
$0
On Site:
12
low | high
Med:
Sourced by Back At You
Listing Updated: April 3, 2024 at 10:10:26 PM PDT