8700 Crocus

Estimated Monthly Payment: $17,367/mo 8700 Crocus, St Louis, MO 63114 MLS# 19040346 Multi-Family 5+ Listing Status: Pending
39,600 sqft
142
82
0
4

REMARKS:

56 Unit apt complex located across the street from Home Heights Park and minutes from downtown Clayton and the airport. Comprised of 10 brick buildings with pitched roofs & plenty of parking for the tenants. 24 two bed & 32 one bed apts. Rents have been, and can be, increased to as much as $550 for the 1 beds & $650 for the 2 beds. Building is currently grossing $381k/yr with a net income of $252k; an 8.1% cap rate. With 1 bed rents at $550 & $650 for 2 bed across the board, the gross rent would be nearly $400k/yr. There have been updates to many of the units including updated kitchen cabinets, flooring, double pane windows, etc. Other recent capital improvements include emergency fire escapes, welding, and pvc plumbing stack replacement. There is an on site management company in place which is currently charging a 4% management fee that would be open to continuing to manage the property. Current vacancy is under 2% and there have been long waiting lists for tenants wanting to move in.

OVERVIEW:

Multi-Family 5+
Pending
Ritenour
Crocus Court
39600
78844
Brick/Stone Msn Pred
Baseboard, Forced Air, Individual Furnaces
Electric, Gas
Wall Unit(s), Central-Electric, Window Unit(s)
Public
Public
1959
Parking Lot
1.81

FEATURES:

St. John

SCHOOLS:

Marvin Elem.
Ritenour Middle
Ritenour Sr. High
Ritenour

FINANCIAL:

$3,100,000
$38,760
2018

NEIGHBORHOOD & SCHOOL INFORMATION:

Broker Reciprocity Courtesy of Invest St. Louis

 

 

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