Raphael Hayes - Coldwell Banker Premier Group
631 N 5th St
St Charles, MO 63301

Description

Location, location, location!!! Very rare opportunity to acquire a multi-family historic building in a popular historic St. Charles downtown area. Recently renovated and 100% occupied 9-unit apartment building - 3 one bedrooms and 6 large studio apartments with 10' ceilings. Rents below market, well positioned to increase rents substantially by making cosmetic changes. A great value-add opportunity, all 9 leases have been renewed till spring 2019, listed at an attractive 8.3% cap rate. Conveniently located on a popular 5th street, very smooth running and low maintenance. New architectural shingles, new gutters, new hallway flooring, interior hallway paint. Enjoy Main Street, Frenchtown, and all the activities of city living. Within minutes of Main Street, Lindenwood University, Ameristar Casino, Shopping centers, Restaurants, Bars. Parks, and St. Johns Hospital. Walking distance to River Front, Main Street, and Frontier Park. Owner is a licensed real estate professional.

Details

MLS#18095277
Sub-TypeResale
StatusPending - Show
Year1861
Days On Site32

Features

SQ Feet7,882
Building(s)1

Market Activity 63301

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Area Information

StateMO
CountySt Charles
CitySt Charles
Zip Code63301
AreaSt. Charles
Listing VS Median (in 63301)
Price:
$560,000
low | high
Med:
$259,450
100% of Average
SqFt:
7,882
low | high
Med:
2,011
100% of Average
$ / SqFt:
$71
low | high
Med:
$135
39.847149662233% of Average
On Site:
32
low | high
Med:
143
22.377622377622% of Average
Listing Updated: 01/18/2019
MLS Number: 18095277
Listing Provided By:
Austin Andrews  of  Apartment Advisors of America