225-229 Steins – Turn-Key 6-Family, 8.04% Cap at List

Here is the next great turn-key investment for your rental portfolio! All this building 6 units are all 1-bed / 1-bath with great amenities so they are always in demand and are easy to rent! Currently, 5 of the 6 units are leased, with the 6th being left open for showings.  At current rents, the building is pulling in a monthly gross income of $4,544 for an 8.04% cap rate at current expenses. If rents were moved up to the current going rate of $787 a unit, total rents would go up to $4,722.

The property underwent major renovations roughly 13 years ago with updates to all major components (roof, plumbing, electrical, HVAC, kitchen, baths, etc.). Due to their great condition and convenient amenities like in-unit W/D, this building easily stays rented. This is a stable, cash-flowing investment that you’ll want to add to your portfolio!

Located in the Historic Carondelet neighborhood and within walking distance to several desirable amenities: Upgraded YMCA Rec-Plex; Grocery & Retail Stores; Carondelet Park with lake, trails, and playgrounds; Great Rivers Greenway trail system; locally-owned restaurants like Stacked and Perennial Artisan Ales; easy access to public transportation.

Looking for more units? Owner willing to consider a package deal for 225-229 Steins (6 Units), 7024-7028 Pennsylvania (8 Units), and 7413-7415 S Broadway (5 Units). Check out this potential 19-Unit Carondelet Package.