Value-Add Appartment Opportunity

4981 Rosalie Street, St. Louis, MO, is a 16-unit, 2-story L-shaped apartment Building with a rich history, constructed in 1928. All 16 units are 1-bedroom, 1-bath with rear door access to a private level fenced yard. The units are approximately 600 SF with tall 8+ Ft ceilings. Currently, 9 units are rented (56%), with 7 vacant units. Kitchens are complete with gas stoves/ranges and refrigerators. Some units have central air/heat, and others have window units. Tenants pay for Natural Gas and Electric. Each apartment has 100 AMP electric service. Most windows have been replaced with aluminum replacement windows. Some vacant units require minor cosmetic work, while others need more extensive renovations. Monthly rents are $595-$620. Proforma Net Operating Income is $89,132 with all units occupied, a promising figure. Break-even occupancy is 24.9%. This property has much upside; according to “RentoMeter.com” in this neighborhood, the average rent for a similar-sized apartment is $706 a month, presenting a significant potential for increased revenue. This is a significant Value-Add Opportunity Through stabilization of the property, immediate rent increases, and completion of the unit renovation. A 5% assumable loan for $370,000 is available as an added incentive.

This 16-family Apartment Complex is priced to sell at $74,277/Key—$1,188,425.00, making it a worthwhile investment.

Portfolio Purchase Opportunity: This property and 5437-5445 Page Blvd can both be purchased for $2,250,000, a 17.9% Savings.

Location:

Step into a unique opportunity with this 16-family Apartment Building, one of the few in the area. The majority of the residential dwellings are single-family, with 57% of those being owner-occupied. This exclusive Location offers easy access to Downtown St. Louis, nestled in the heart of North St. Louis City, in the Mark Twain neighborhood. The proximity to I-70 ensures a quick, less than 10-minute drive to Downtown St. Louis. Moreover, the excellent public transportation system with two bus routes at Kings Highway and West Florissant, including Route #95 Kings Highway and Route #74 Florissant, provides a convenient connection to all points in St. Louis.