UPDATED:
Key Details
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Pending
Purchase Type For Sale
Square Footage 1,736 sqft
Price per Sqft $64
Subdivision Randolph Place
MLS Listing ID 26052525
Style Traditional
Bedrooms 3
Full Baths 1
Half Baths 1
Year Built 1936
Annual Tax Amount $1,929
Lot Size 7,840 Sqft
Acres 0.18
Property Sub-Type Single Family Residence
Property Description
Fifteen of the 16 homes are currently leased, and the remaining property is expected to have a Section 8 tenant in place by closing. Twelve of the homes have or are expected to have Section 8 leases, with the other four rented at market rates. The tenant history is especially strong, with an average tenure of approximately six years and three tenants who have lived in their homes for more than 10 years.
The seller has also taken some of the guesswork out of evaluating the portfolio. Professional pre-listing inspections were completed on 15 of the 16 homes, giving buyers detailed information about the condition of the properties before making an offer. Some of the homes have older roofs and mechanical systems, and the asking price reflects that future capital expense. The portfolio is being sold as-is, with no seller repairs or credits.
For an investor looking to grow an existing St. Louis rental operation, this is an opportunity to acquire 16 homes at once with nearly full occupancy, long-term tenants, substantial Section 8 income and a great return from day one without having to assemble the portfolio one property at a time.
Please view the virtual tour of this property at: https://my.360tourlink.com/70f1e6d7-d752-4897-
8607-56304418588b?type=unbranded Please see the documents section for a brochure with complete details on the package.
Location
State MO
County St. Louis
Area 63 - Mccluer
Rooms
Basement Partially Finished, Full
Main Level Bedrooms 2
Interior
Heating Forced Air
Cooling Central Air
Fireplaces Number 1
Fireplaces Type Decorative
Fireplace Y
Exterior
Parking Features false
Fence Back Yard, Chain Link
Utilities Available Cable Available
View Y/N No
Building
Lot Description Level
Story 1.5
Sewer Public Sewer
Water Public
Level or Stories One and One Half
Structure Type Brick,Vinyl Siding
Schools
Elementary Schools Central Elem.
Middle Schools Ferguson Middle
High Schools Mccluer High
School District Ferguson-Florissant R-Ii
Others
Acceptable Financing 1031 Exchange, Cash, Contract
Listing Terms 1031 Exchange, Cash, Contract
Special Listing Condition Package
Virtual Tour https://my.360tourlink.com/70f1e6d7-d752-4897- 8607-56304418588b?type=unbranded
NEARBY SCHOOL & BUSINESS
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