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
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*