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4432-4434 Olive St
Saint Louis, MO 63108
Multifamily Property For Sale
·
8 Units
Investment Highlights
- Large 2 bed/2 bath units with In-Unit Laundry
- Off-Street Secured Parking Lot
- Condo Conversion Potential | $285,000 average sale price
- Located in the Central West End
- Below Market Rents
Executive Summary
4432-4434 Olive presents a prime investment opportunity in the heart of St. Louis' prestigious Central West End neighborhood. The property consists of 8 apartments. The property underwent a total and complete redevelopment in late 2012. All systems were updated or installed at that time. This results in a fully updated building with modern finishes that retains its historic charm which tenants desire. Each unit is a large 2 bed & 2 bath unit with in unit laundry. The rear of the property has a secure eight car parking lot.
The property not only offers strong in place financial performance but also allows for significant appreciation through raising rents to market. This is truly an amazing opportunity in the City's premier Central West End neighborhood, with significant upside.
Another strategy is to convert the units to condos for resale. The immediate area has multiple sale comparables that average $285,000 for a 2 bed, 2 bath unit. This provides a very lucrative exit strategy.
The property not only offers strong in place financial performance but also allows for significant appreciation through raising rents to market. This is truly an amazing opportunity in the City's premier Central West End neighborhood, with significant upside.
Another strategy is to convert the units to condos for resale. The immediate area has multiple sale comparables that average $285,000 for a 2 bed, 2 bath unit. This provides a very lucrative exit strategy.
Property Facts
| Price Per Unit | $175,000 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.18 AC |
| Cap Rate | 7.12% | Building Size | 9,400 SF |
| No. Units | 8 | Average Occupancy | 75% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built/Renovated | 1897/2013 |
| Apartment Style | Low-Rise | Parking Ratio | 0.85/1,000 SF |
| Zoning | G | ||
| Price Per Unit | $175,000 |
| Sale Type | Investment |
| Cap Rate | 7.12% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.18 AC |
| Building Size | 9,400 SF |
| Average Occupancy | 75% |
| No. Stories | 2 |
| Year Built/Renovated | 1897/2013 |
| Parking Ratio | 0.85/1,000 SF |
| Zoning | G |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Washer/Dryer
- Heating
- Ceiling Fans
- Basement
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 8 | - | 1,085 |
Property Taxes
| Parcel Number | 4580-05-0060-1 | Improvements Assessment | $130,430 |
| Land Assessment | $11,780 | Total Assessment | $142,210 |
Property Taxes
Parcel Number
4580-05-0060-1
Land Assessment
$11,780
Improvements Assessment
$130,430
Total Assessment
$142,210
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