7300 & 7304 Pennsylvania AVE Active Save Request In-Person Tour Request Virtual Tour
St Louis,MO 63111
Key Details
Property Type Multi-Family
Sub Type Multi-Family 5+
Listing Status Active
Purchase Type For Sale
Square Footage 6,216 sqft
Price per Sqft $72
Subdivision Eilers Sub
MLS Listing ID 24075297
Year Built 1927
Building Age 97
Lot Size 7,275 Sqft
Property Description
The French settlement of Carondelet (est. 1757) enjoys a rich history and overlooks the Mississippi River. In the heart of it all is this 6,216 sf brick building with six 1/1 units and two 2/1 units. One was a storefront so the layout is different. Sellers rehabbed 3 units, partially rehabbed 3 more, and installed 4 new window units, water heater, stove, & fridge. You’ll find pex water lines, some PVC stacks, copper & romex wiring, gas furnaces, gas & electric water heaters, and some updated windows. One unit is vacant for showing; one is vacant and needs rehab due to a problem tenant. This is a value-add opportunity with some heavy lifting already done. Tenants enjoy living minutes from Carondelet Park, restaurants like Stacked STL, Perennial Artisan Ales, River City Casino, and I-55. Using a pro forma $750 for vacancies, annual income is 66,000 - operating expenses of 30,134 = NOI of 35,866, a 7.9% cap rate at asking price. Ask your agent for financials available in the listing.
Location
State MO
County St Louis City
Area South City
Interior
Heating Forced Air
Cooling Window Unit(s)
Building
Sewer Public Sewer
Water Public
Structure Type Brick
Schools
Elementary Schools Woerner Elem.
Middle Schools Lyon-Blow Middle
High Schools Roosevelt High
School District St. Louis City
Others
Acceptable Financing Cash Only,Conventional,Exchange,Private
Listing Terms Cash Only,Conventional,Exchange,Private
Special Listing Condition None