Fully renovated 38 unit apartment building in Webster Groves, 100% occupied with 20 units already leased at proforma rents. Currently the property is bringing in $41,618/month. The 1beds are leasing for $1075/month to $1210/month. The 2beds are leasing for $1350/month to $1425/month. EVERY APARTMENT has IN UNIT LAUNDRY, stainless steel appliances, white shaker cabinets, granite counters, tiled bathrooms and are a great size- extremely easy to lease. 36 GARAGE PARKING spaces + over a dozen off street parking spaces. The property has a pool in the center of the gated courtyard. If you annualize the current rent roll, factor in 5% vacancy and use the 2023 expenses- you arrive at a CAP RATE OF 7.83%. Once you bring all the units to proforma rents, you will be over a 9% cap rate. An in-place cap rate of a building this nice in Webster Groves is truly unheard of. This is extremely popular for Webster University students as they can walk to class. Ask for T12, rent roll and appraisal.
Some words will not translate correctly. By using this feature, you accept this risk and agree to release Berkshire Hathaway HomeServices and its franchisees from any claims or damages resulting from incorrect translation.
Berkshire Hathaway HomeServices does not endorse any of the products or vendors, referenced on this material.
Any mention of vendors, products, or services is for informational purposes only.
Member of: Berkshire Hathaway HomeServices Select Properties, (314) 835-6000
Our website uses cookies, including third parties’ profiling cookies, to improve your user experience. You can learn more about how we use cookies and how to change your
cookies settings in our Privacy Policy. By closing this message, clicking above or continuing to use this site, you consent to our use of cookies.