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3613-3617 Alberta Street, St. Louis, MO 63116

Multifamily Investment Opportunity



Acquisition Price

$435,000


11 Unit Mix

(10) 1 bed/1baths - (1) 2 bed/1bath


Great opportunity to own a multifamily investment property in the St. Louis real estate market. This property actually appraised for $450,000 in April of 2020. Gut renovated about 18 months ago, the building is all electric with individual HVAC wall units. It is located just south of the gentrified area, Grand South Grand & Tower Grove South and in proximity to several highly impact developments:


https://www.cityscene-stl.com/post/garcia-properties-moves-ahead-with-grandview-arcade-melba-theater-redevelopment https://nextstl.com/2018/02/garcia-properties-purchases-grandview-arcade-building-gravois-park/


Rent Roll:


Unit 1 - Residential (3613 Alberta 1s St. Louis, Mo 63116)

Studio / 1 Baths / 582 Sq.Ft.

Gross Rent: $ 500 Per Month


Unit 2 - Residential (3613 Alberta 1n St. Louis, Mo 63116)

Studio / 1 Baths / 582 Sq.Ft.

Gross Rent: $ 425 Per Month


Unit 3 - Residential (3613 Alberta 2n St. Louis, Mo 63116)

Studio / 1 Baths / 582 Sq.Ft.

Gross Rent: $ 425 Per Month


Unit 4 - Residential (3613 Alberta 2s St. Louis, Mo 63116)

Studio / 1 Baths / 582 Sq.Ft.

Gross Rent: $ 495 Per Month


Unit 5 - Residential (3615 Alberta 1s St. Louis, Mo 63116)

Studio / 1 Baths / 582 Sq.Ft.

Gross Rent: $ 450 Per Month


Unit 6 - Residential (3615 Alberta 2n St. Louis, Mo 63116)

Studio / 1 Baths / 582 Sq.Ft.

Gross Rent: $ 425 Per Month


Unit 7 - Residential (3615 Alberta 2s St. Louis, Mo 63116)

Studio / 1 Baths / 582 Sq.Ft.

Gross Rent: $ 400 Per Month


Unit 8 - Residential (3617 Alberta 2n St. Louis, Mo 63116)

Studio / 1 Baths / 582 Sq.Ft.

Gross Rent: $ 450 Per Month


Unit 9 - Residential (3617 Alberta 1s St. Louis, Mo 63116)

2 Beds / 1 Baths / 582 Sq.Ft.

Gross Rent: $ 799 Per Month


Unit 10 - Residential (3615 Alberta 1n St. Louis, Mo 63116)

Studio / 1 Baths / 582 Sq.Ft.

Gross Rent: $ 400 Per Month


Unit 11 - Residential (3617 Alberta 2s St. Louis, Mo 63116)

Studio / 1 Baths / 582 Sq.Ft.

Gross Rent: $ 450 Per Month


Gross Rent Total: $5,219


Cash Flow (Year 1)


Monthly Yearly


CASH FLOW

Gross Rent: $5,219 $62,628

Vacancy (10%): - $522 -$6,263

Other Income: + $0 $0

Operating Income: = $4,697 $56,365

Operating Expenses (40.6%): - $ 1,906 $22,870

Net Operating Income: = $ 2,791 $33,495

Loan Payments: - $1,531 $18,374

Cash Flow: = $1,260 $15,121

Cash Flow Per Unit: $115 $1,375


Monthly Yearly


EXPENSES

Property Taxes: $135 $1,620

Insurance: $150 $1,800

Property Management: $522 $6,263

Maintenance: $522 $6,263

Capital Expenditures: $0 $0

HOA Fees: $0 $0

Utilities: $477 $5,724

Landscaping: $0 $0

Accounting & Legal Fees: $0 $0

Replacement Reserve: $100 $1,200

Total: $1,906 $22,870





"Invest Wisely"





PROMISE LAND REALTY, LLC

Work: 313-307-6616

sarter@promiselandrealtyllc.com

www.promiselandrealtyllc.com


All Off Market Properties are sold 'As-Is'. Buyer must do their due diligence. Sold on warranty deed. We are selling our assignable interest. Proof of Funds is required with all offers. Earnest Money Deposit due within 48 hours of accepted offer. Closings are done quickly and with a title company/closing attorney. *Realtors add your fee on top*

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