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$ 1,349,000
Est. payment | /mo
864 SqFt
$ 1,349,000
Est. payment | /mo
864 SqFt
Key Details
Property Type Multi-Family
Sub Type 5 Family or More
Listing Status Active
Purchase Type For Sale
Square Footage 864 sqft
Price per Sqft $1,561
Subdivision Larimore Hills
MLS Listing ID 26041344
Style Ranch
Year Built 1959
Annual Tax Amount $1,682
Lot Size 5,410 Sqft
Acres 0.1242
Property Sub-Type 5 Family or More
Property Description
Rare opportunity to acquire a 12-home single-family rental portfolio offered as one package in the St. Louis market. Located throughout Spanish Lake, Ferguson, and Unincorporated North St. Louis County, the properties are positioned within close proximity for efficient management and maintenance. The portfolio features a desirable unit mix of all 3- and 4-bedroom homes, creating strong tenant demand from both Section 8 voucher holders and market-rate renters. Professionally managed and largely renovated/rent-ready, the portfolio offers a strong mix of in-place income with immediate lease-up upside. Current gross rental income is approximately $11,519/month, with four vacant homes fully rent-ready and actively being leased. Seller anticipates at least two additional homes leased prior to closing, increasing in-place income to approximately $14,100/month. Fully stabilized pro-forma gross rental income is projected at approximately $16,700/month, with estimated annual operating expenses of approximately $53,000 and projected stabilized NOI of approximately $147,000/year. At the $1,350,000 asking price, the portfolio offers a projected stabilized cap rate approaching 10.9%. An excellent opportunity for investors seeking immediate scale, efficient scattered-site operations, dependable rental demand, and value-add upside through lease-up of rent-ready homes.
Location
State MO
County St. Louis
Area 46 - Hazelwood East
Interior
Cooling Central Air
Fireplace N
Exterior
View Y/N No
Building
Structure Type Vinyl Siding
Schools
Elementary Schools Larimore Elem.
Middle Schools Southeast Middle
High Schools Hazelwood East High
School District Hazelwood
Others
Acceptable Financing Conventional
Listing Terms Conventional
Special Listing Condition Standard
Listed by Matt Guignon • Invest St. Louis
Nearby Locations
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Gary Le Roi Newton
Broker-Owner | Lic# 1723924