Investment dream in Tower Grove South!

This building is a rental owners dream. Rather than inherit tenants, you can place your own. And with this great location in Tower Grove South and great unit features, the potential to get excellent market rents is great. The building does need work, but each unit has great features such as a private bedroom in the rear, original stained glass, original wood flooring, forced air and a large eat-in kitchen. On the exterior many of the windows have been replaced with vinyl, the exterior is all historic brick, there is a large parking pad, and each unit has it’s own private entrance out front. This one really does have great potential and would be a great addition to any portfolio.

Building is currently vacant and ready to finish to the level you see fit. Expect market rent to be roughly $550 per unit at current finish level and $660+ if upgraded to higher-end finishes. Projecting a cap rate of 12.0%% with upgraded units or 12.0%% if left at roughly the current finish level. NOTE – Property value basis for figuring current numbers includes $10,000 in work to get units up and running.