Fully renovated 38 unit apartment building in Webster Groves, 100% occupied with 20 units already leased at proforma rents. Currently the property is bringing in $41,618/month. The 1beds are leasing for $1075/month to $1210/month. The 2beds are leasing for $1350/month to $1425/month. EVERY APARTMENT has IN UNIT LAUNDRY, stainless steel appliances, white shaker cabinets, granite counters, tiled bathrooms and are a great size- extremely easy to lease. 36 GARAGE PARKING spaces + over a dozen off street parking spaces. The property has a pool in the center of the gated courtyard. If you annualize the current rent roll, factor in 5% vacancy and use the 2023 expenses- you arrive at a CAP RATE OF 7.83%. Once you bring all the units to proforma rents, you will be over a 9% cap rate. An in-place cap rate of a building this nice in Webster Groves is truly unheard of. This is extremely popular for Webster University students as they can walk to class. Ask for T12, rent roll and appraisal.
107 W Lockwood Ave Webster Groves, MO 63119 314-962-1100
Listed by The Agency, Anthony Klier
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763 Chamberlain Place (MLS #24019919) is a multi-family listing located in St Louis, MO.
This multi-family listing is on a lot of 74,488 sqft (or 1.71 acres) and is 64 years old. This property was listed on 04/03/2024 and has been priced for sale at $4,730,000.
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