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.
Lot & Building Features
Assoc Fee Paid:None
Construction:Brick/Stone Msn Pred
Heating:Baseboard, Individual Furnaces, Electronic Air Fltrs
Parking Description:On Street Parking, Parking Lot
Lot Dimensions:125x60x292x51x74x560x192 ft
Community and Schools
Elementary School:Highland Elem.
Junior High School:R. G. Central Middle
Senior High School:Riverview Gardens Sr. High
Price History of 9640 Diamond, St Louis, MO
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9640 Diamond (MLS #19067306) is a multi-family listing located in St Louis, MO.
This multi-family listing is 46,442 sqft and on a lot of 62,901 sqft (or 1.44 acres) and is 43 years old. This property was listed on 09/05/2019 and has been priced for sale at $2,225,000.