Multi Family In St Louis

One-of-a-kind Investor’s dream, Turnkey 9-Family + 4 Bay Unit commercial spaces in South City!
Excellent cash-flowing opportunity with low maintenance. Perfect for a seasoned investor or first time investor. Cap rate is currently 8.84% and NOI is $59k. Lease-up is exceptionally strong with almost no vacancy... Unit rents vary from $790-$850 and have been gradually growing as the leases come up for renewal. Additionally a 4 bay commercial building in the front of the lot will be included in the sale. The commercial units can easily be turned into residential units for additional cashflow opportunity.
Each unit has been thoughtfully updated in 2020 with new electric meters, new water heaters, brand-new electrical, plumbing, new drywall, new hybrid mini splits, ensuring low maintenance for years to come. Interiors feature new hardwood flooring, white shaker cabinets, gas stovetops, refrigerators, and laundry hookups and stackable washer/dryer in dedicated closets. The basement has individual storage lockers dedicated for each unit. All units have private rear access, with the building situated behind a commercial space for added seclusion.
A true turnkey asset in a great rental market—perfect for any investor looking for strong returns and long-term stability.