Subdivision:Milentz Lt Pts 1-6 & Lt Pt A & Ludewig
A great deal for any investor, this 18 unit apartment complex holds the promise to be a real money maker. With market rents of $625/unit & a CAP rate of near 9%, profits are highly favorable compared to rentals in the area. All units are ~650 sqft, w/ 1 bed, 1 bath, & tons of updates in the past 2 years. Updates include new flooring, new water heaters in most, new heating & cooling wall units in most, as well as new kitchens in most. The building as a whole has also been kept up to date: a new TPO roof, new soffit, & new facia installed by the current owner. A huge bonus, every unit has passed occupancy inspections within the past 6 months & 15 units are currently occupied, w/ the remaining 3 currently being marketed for rent. As an added point of value, the building has 6 possible washer/dryer coin laundry locations, only 1 of which is currently in use. With great market rents, so many great updates, plus very low maintenance & turnover cost on these units, this one is a no-brainer!
Lot & Building Features
Community and Schools
Elementary School:Bayless Elem.
Junior High School:Bayless Jr. High
Senior High School:Bayless Sr. High
Price History of 8009 Gravois Road, St Louis, MO
*Information provided by REWS for your reference only. The accuracy of this information cannot be verified and is not guaranteed.
Listed by Keller Williams Chesterfield, Adam Droege
Principal & Interest
Monthly Home Ins.
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