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$ 1,349,000
Est. payment /mo
Active
8433 1st ST Berkeley, MO 63134
816 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type 5 Family or More
Listing Status Active
Purchase Type For Sale
Square Footage 816 sqft
Price per Sqft $1,653
Subdivision Kinloch Park
MLS Listing ID 26041366
Style Ranch
Year Built 1953
Annual Tax Amount $942
Lot Size 10,201 Sqft
Acres 0.2342
Property Sub-Type 5 Family or More
Property Description
Rare opportunity to acquire a 12-home single-family rental portfolio offered as one package in the St. Louis market. Located throughout Spanish Lake, Ferguson, and Unincorporated North St. Louis County, the properties are positioned within close proximity for efficient management and maintenance. The portfolio features a desirable unit mix of all 3- and 4-bedroom homes, creating strong tenant demand from both Section 8 voucher holders and market-rate renters. Professionally managed and largely renovated/rent-ready, the portfolio offers a strong mix of in-place income with immediate lease-up upside. Current gross rental income is approximately $11,519/month, with four vacant homes fully rent-ready and actively being leased. Seller anticipates at least two additional homes leased prior to closing, increasing in-place income to approximately $14,100/month. Fully stabilized pro-forma gross rental income is projected at approximately $16,700/month, with estimated annual operating expenses of approximately $53,000 and projected stabilized NOI of approximately $147,000/year. At the $1,350,000 asking price, the portfolio offers a projected stabilized cap rate approaching 10.9%. An excellent opportunity for investors seeking immediate scale, efficient scattered-site operations, dependable rental demand, and value-add upside through lease-up of rent-ready homes.
Location
State MO
County St. Louis
Area 65 - Mccluer South
Interior
Heating Forced Air
Cooling Central Air
Fireplace N
Exterior
View Y/N No
Building
Structure Type Vinyl Siding
Schools
Elementary Schools Berkeley Elementary School
Middle Schools Berkeley Middle
High Schools Mccluer South-Berkeley High
School District Ferguson-Florissant R-Ii
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition Standard
Listed by Matt Guignon • Invest St. Louis