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College Hill Apartments 2002 Obear Ave 145 Unit Apartment Building $7,250,000 ($50,000/Unit) 10.43% Cap Rate Saint Louis, MO 63107
EXECUTIVE SUMMARY
Well-cared for clean, quiet, 1989 buildings in a stable neighborhood. All electric, individually metered, separate water heaters. Units are large mix of townhomes and garden style average square footage 1,000+. Improvements made: New windows, new appliances, updated kitchens, updated baths, new carpet and/or vinyl and paint in every unit. Occupancy is 85%. Owner is motivated and willing to pay a 3% commission to represented buyers.
DATA ROOM Click Here to Access
- Miscellaneous
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS Under Contract
| Price | $7,250,000 | Building Class | B |
| Price Per Unit | $50,000 | Lot Size | 6.00 AC |
| Sale Type | Investment | Building Size | 171,805 SF |
| Cap Rate | 10.43% | Average Occupancy | 81% |
| No. Units | 145 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1987 |
| Property Subtype | Apartment | Parking Ratio | 0.84/1,000 SF |
| Apartment Style | Garden | Opportunity Zone |
Yes
|
| Zoning | B | ||
| Price | $7,250,000 |
| Price Per Unit | $50,000 |
| Sale Type | Investment |
| Cap Rate | 10.43% |
| No. Units | 145 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 6.00 AC |
| Building Size | 171,805 SF |
| Average Occupancy | 81% |
| No. Stories | 3 |
| Year Built | 1987 |
| Parking Ratio | 0.84/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | B |
AMENITIES
- Smoke Detector
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Dishwasher
- Disposal
- Washer/Dryer Hookup
- Heating
- Eat-in Kitchen
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Carpet
- Yard
- Deck
- Family Room
- Freezer
- Handrails
- Lawn
- Linen Closet
- Porch
- Vinyl Flooring
- Window Coverings
- Large Bedrooms
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
- Property Manager on Site
- Maintenance on site
- Public Transportation
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 2 | $800.00 | 643 |
| 2+1 | 136 | $900.00 | 1,024 |
| 3+1.5 | 2 | $1,000 | 1,376 |
| 4+2 | 1 | $1,300 | 1,593 |
| 3+2 | 4 | $1,000 | 1,376 |
1 1
PROPERTY TAXES
| Parcel Number | 2477-00-0185-0 | Improvements Assessment | $26,320 |
| Land Assessment | $3,170 | Total Assessment | $29,490 |
PROPERTY TAXES
Parcel Number
2477-00-0185-0
Land Assessment
$3,170
Improvements Assessment
$26,320
Total Assessment
$29,490
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Acorn Residences
College Hill Apartments | 2002 Obear Ave
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