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Key Details
Sold Price $650,000
Property Type Multi-Family
Sub Type Multi-Family 5+
Listing Status Sold
Purchase Type For Sale
Square Footage 6,400 sqft
Price per Sqft $101
Subdivision Lanes Add 03
MLS Listing ID 24047537
Sold Date 10/01/24
Construction Status 97
Year Built 1927
Building Age 97
Lot Size 6,290 Sqft
Acres 0.1444
Lot Dimensions 49x130
Property Description
Fully updated 8-unit apartment building in the historic Tower Grove East neighborhood. Located 1.5 miles from Tower Grove Park, and all the amenities of South Grand. Built in 1927, this brick building has a total square footage of 6,400, and is priced to sell at $102 per square foot. Each 1-bedroom, 1-bathroom unit has 750 square feet of modern living space. All units were completely renovated in 2021 with granite countertops, stainless steel appliances (including gas stoves, refrigerators, microwaves, & dishwashers), in-unit washers and dryers, and keyless locks throughout. Additional upgrades in 2021 include new condensers, PVC and pex plumbing, sewer laterals, and a TPO roof. There is potential to increase rent as-is. The average rents of 33 one-bed rentals within 1 mile in the past year is $1,024/mo on rentometer. If the apartments were rented at average rent, a fully-occupied building would generate $8,192 per month, or $98,304 annualized.
Location
State MO
County St Louis City
Area Central East
Interior
Heating Forced Air
Cooling Gas
Fireplace N
Laundry Prvt Laund all units
Building
Sewer Public Sewer
Water Public
Structure Type Brick
Construction Status 97
Schools
Elementary Schools Shenandoah Elem.
Middle Schools Fanning Middle Community Ed.
High Schools Roosevelt High
School District St. Louis City
Others
Ownership Private
Acceptable Financing Cash Only, Conventional, Exchange, Other
Listing Terms Cash Only, Conventional, Exchange, Other
Special Listing Condition Renovated, None
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Bought with Thomas Makowsky
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