For Sale $289,000 - Apartment Building
Well maintained and fully rented four family built in 1966 located in Mehlville. The building has two 2 bedroom units and two 1 bedroom units featuring kitchens with lots of cabinet space, central air conditioning, washer dryer hookups and storage units for each apartment and a pitched roof. Currently rented to long term tenants that have all been there for at least 4 years. Units are rented for well below market rent at $575, $550, $470 and $465. Market rent for similarly updated 2 bedroom units are approximately $700 and $625 for the 1 bedrooms, with units rented at market rent and fully rented the building could generate $2,650 a month and $31,800 annually. Annual expenses are $8,204 for a potential an annual net income of $23,595.
Paying buyers agents 2.70%
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