$50,000 price drop! It’s not often you find two side-by-side 4-families for sale, but it’s even more uncommon for them to be located in such a stellar location. Sitting right off of the northwest corner of Chouteau and Taylor, these 8 units are located in the Grove just across the bridge from the amazing Cortex Innovation Community and only a few buildings away from Home2 Suites by Hilton. Just down the block is the Aventura at Forest Park apartments, which has 1-bed’s starting from $1295 and 2-bed’s from $1650.
The 4509 building has two occupied units and 4515 building has 3 occupied units ranging from $550 to $636. The vacant units have been left so to allow for renovation work should buyer desire. Each unit has the same 4-room layout with a private bedroom in the rear and one bath. The current layout makes for a very spacious 1-bed, but with a renovation, these units could easily be converted to 2-beds with private beds in the front and rear of each unit.
The returns, as things stand, are modest but with a rehab, fetching rents of $1,200 a month or higher should be easy. This would make a great long-term addition to any rental portfolio if you are willing and able to get the buildings renovated and running up to peak efficiency. Seller willing to split the buildings under the right circumstances, but prefers to sell as a package.