Agent Photo
Ted Wight
Dielmann Sotheby's International Realty
Dielmann Sotheby's International Realty home

9640 Diamond
9640 Diamond St. Louis, Missouri 63137 United States

$2,225,000
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Listing Courtesy of Invest St. Louis Opportunity to purchase a large well maintained 86 unit apt complex located on secluded 1.5-acre lot overlooking the Mississippi River. This 46,442 sq ft complex is comprised of 68 one-bed units, 17 two-bed...
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Listing Courtesy of Invest St. Louis
$2,225,000
1.44 Acres
Exterior
Multi-Family Homes
Property Type
19067306
Web Id
19067306
MLS ID
Riverview Gardens
Subdivision
Riverview Gardens
School District
Highland Elem.
Elementary
R. G. Central Middle
Middle
Riverview Gardens Sr. High
High
301
days ago

About 9640 Diamond

Listing Courtesy of Invest St. Louis

Opportunity to purchase a large well maintained 86 unit apt complex located on secluded 1.5-acre lot overlooking the Mississippi River. This 46,442 sq ft complex is comprised of 68 one-bed units, 17 two-bed units & one efficiency unit. The total gross inc for 2018 was $400,928 with net operating inc of $205,823 which is a 9% cap rate with the ability to raise rents and add value. 81 units were recently renovated and there have been significant recent capital improvements totaling $233k over the last few years including new HVAC, appliances, a new roof on the 20 unit building, porches, railings and staircases were replaced along with plumbing stacks, tuckpointing and a retaining wall. On-site management office, on-site laundry, large maintenance storage space, camera monitoring system. All-electric complex. 78 of the 86 units are rented, a 91% occupancy rate. Rare opportunity to purchase large profitable multi-fam complex with growth potential. Property mang co interested to stay on.

PROPERTY INFORMATION

Cooling
Central-Electric
Heating
Electronic Air Fltrs, Baseboard, Individual Furnaces
Location
Rural, Suburban
Parking Description
On Street Parking, Parking Lot
Sewer
Public
Water
Public

EXTERIOR

Construction
Brick/Stone Msn Pred

ADDITIONAL INFORMATION

Number of Units
86
Listing Courtesy of Invest St. Louis