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5321 Michigan Ave - 5321 Michigan Ave. 4 Unit Apartment Building Offered at $245,000 at a 8.16% Cap Rate Saint Louis, MO 63111
Investment Highlights
- Separate basements
- Private interior entrances
Executive Summary
This well-maintained 4-family building is a smart and solid income-producing property, perfect for an investor or an owner-occupant looking to have 3 tenants help cover the mortgage! Each unit is approximately 900sf and features a private interior entrance, spacious living room, bedroom, kitchen and bathroom. 2 units have recently been vacated and received cosmetic updates, making them move-in ready for lease or owner occupancy. The remaining 2 units are occupied; 1 on a month-to-month lease (also an updated unit) offering the potential to renovate and re-lease at higher rental rate. Each side has a separate basement that includes PVC sewer stacks, laundry hookups and ample storage, rounding out an excellent investment opportunity.
Property Facts
| Price | $245,000 | Property Type | Multifamily |
| Price Per Unit | $61,250 | Building Size | 3,536 SF |
| Sale Type | Investment | Average Occupancy | 50% |
| Cap Rate | 8.16% | No. Stories | 2 |
| No. Units | 4 | Year Built | 1926 |
| Zoning | B - Two Family Residential-B | ||
| Price | $245,000 |
| Price Per Unit | $61,250 |
| Sale Type | Investment |
| Cap Rate | 8.16% |
| No. Units | 4 |
| Property Type | Multifamily |
| Building Size | 3,536 SF |
| Average Occupancy | 50% |
| No. Stories | 2 |
| Year Built | 1926 |
| Zoning | B - Two Family Residential-B |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | - | - |
1 1
Fairly walkable
50/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 2823-00-0060-0 | Improvements Assessment | $28,440 |
| Land Assessment | $1,200 | Total Assessment | $29,640 |
Property Taxes
Parcel Number
2823-00-0060-0
Land Assessment
$1,200
Improvements Assessment
$28,440
Total Assessment
$29,640
Contacts
-
Jenifer Garcia -
Tara Hacker -
Garcia Properties
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5321 Michigan Ave - 5321 Michigan Ave.
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