There are 4 properties (74 units total) being offered as a package. All are beautiful, historic buildings with timeless brick exteriors located in Dutchtown – a historic & vibrant South City STL neighborhood experiencing significant revitalization. Addresses are:
3801-3811 Keokuk St. - 24 units
3858 Bamberger Ave. – 24 units
3763 Keokuk St. – 2 units
4054-4064 S. Grand Blvd. – 24 units
Summary below:
• Attractive unit mix – Studios, One-Bedroom, & Two-Bedroom floor plans.
• Avg. in-place rents are significantly below market rate – offers immediate upside w/ rent increases.
• Economies of Scale – owning multiple properties w/in close proximity allows for centralized management, shared maintenance resources, & reduced operational expenses.
• Asking Price of $4,300,000 ($58k per unit).
• Projected Year 1 NOI of $346,367 w/ reserves, so 8% cap on proforma year one.
