1640 S Compton Ave, St. Louis, MO 63104, USA
Triangle 1 Created with Sketch. For Sale Triangle 1 Created with Sketch. $500,000 - Apartment Building, Residential

This property is an old church less than a mile from Lafayette Park.

  • Should be able to convert into a 14 to 16 unit property
  • Rents should be around 20,000-21,000 monthly
  • At 3,000,000 all-in the investor would be able to get roughly a 6.25 cap. 3,000,000 would be what we would shoot to sell it for if we completed the construction.
  • Construction time would be 12-16 months and could be developed between 2.4-2.8M
  • It’s not a tax credit eligible area but we applied to the national registrar to have this property added (a preliminary review came back positive)
  • Assuming that it is eligible for tax credits (if formal review is approved), you can then get 25% state tax credits for everything that applies and an additional 20% federal tax credits

Contact Ryan W. at (314) 805-3033 or rwessels@threedoors.com.

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