2040-50 Yale Avenue
Saint Louis, MO 63143 ·
60 Units · Multifamily For Sale
The New Haven Apartments
|Building Size||45,000 SF||No. Stories||2|
|Property Type||Multifamily||Year Built||1970|
|Property Sub-type||Garden/Low-Rise||Lot Size||0.96 AC|
|Property Use Type||Investment|
|Listing ID: 15413468||Date Created: 10/30/2007||Last Updated: 05/06/2008|
Located in the Heart of MAPLEWOOD!!!This (60) unit apartment complex is conveniently located on the Maplewood/ Richmond Heights border, a suburb of St. Louis, just a short walk to Downtown Maplewood's "main strip" of booming nightlife, first class restaurants, and kwirky boutique specialty shoppes. New Haven' s central location is a moment' s drive to Downtown Clayton, Forest Park, Washington and Fontbonne Universities, Barnes Hospital and the Central West End. Maplewood' s nightlife has been revitalized with the additions of Mosaic, Monarch and Acero Restaurant' s, and entertainment venues such as the Jive and Wail Piano Bar and the Schlaffly Botlleworks Brewery. New Haven' s unit mix includes (22) 2 - Bedroom units, (35) 1 - bedroom units, and (3) Jr. Suites for a total of (60) units. Property was built in 1970 and features individual C/A and Electric forced air furnaces to ease tenant's heating costs. Building is ALL ELECTRIC. All brick construction and rents current rents of $600 for (2) bedrooms, $495 for (1) bedrooms and $450 for Junior Suites make this an investment to last well into the future if run properly.
Location, Location, Location....
Conveniently located within walking distance of all types of employment and entertainment (hospitals, universities, restaurants and bars, a specialty brewery, a bowling alley, grocery store, and more)
- Many recent capital improvements including Marble Entryways
- Beautifully manicured municipal park next door where tenant's children play
- Additional laundry income, received bid to cut trash expense by 60%
- Ample parking lot spaces and street parking for guests
- Room to bump rents to market rate without making capital improvements
- (60) units (2) roofs!!! Furnaces and water heaters located in tenant's units
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