UPDATED:
Key Details
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Coming Soon
Purchase Type For Sale
Square Footage 936 sqft
Price per Sqft $112
Subdivision Kinloch Park
MLS Listing ID 26020101
Style Ranch
Bedrooms 3
Full Baths 1
Year Built 1990
Annual Tax Amount $1,160
Lot Size 5,662 Sqft
Acres 0.13
Property Sub-Type Single Family Residence
Property Description
This property is part of an 8 home single family rental portfolio, and the seller would prefer to sell the portfolio together or in groups, though each home is also being offered individually. The portfolio is made up entirely of 3 bedroom houses, including six 3 bed 1 bath homes, one 3 bed 1.5 bath home, and one 3 bed 2 bath home.
6/8 houses currently occupied, with current rents totaling $8,140 per month. Once the two vacant units are leased, scheduled rents are projected to reach $10,640 per month. There is also additional upside as units turn, with pro forma rents projected to exceed $11,000 per month.
Ownership and management have been hands on and proactive during their time operating the portfolio, with a focus on maintaining safe, solid housing and keeping the properties in good condition making this portfolio a true turnkey investment. Most of the tenants are Section 8, with one market rate tenant currently in place, providing stable income in a strong rental area. The properties are also located near one another, which helps from both a management and operational standpoint.
This is a great opportunity for an investor looking to add quality rental doors to an existing portfolio, or for someone looking to get started with a well positioned group of income producing properties.
Location
State MO
County St. Louis
Area 65 - Mccluer South
Rooms
Basement Full
Main Level Bedrooms 3
Interior
Heating Natural Gas
Cooling Central Air
Fireplace N
Exterior
Parking Features false
View Y/N No
Building
Lot Description Other
Story 1
Sewer Public Sewer
Water Public
Level or Stories One
Structure Type Vinyl Siding
Schools
Elementary Schools Airport Elem.
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
Nearby School & Business
Get More Information
Joe LoPiccolo
Broker Associate | License ID: 2005026477
Broker Associate License ID: 2005026477