New to the market! 12 unit apartment building close to Lindenwood University. (8) 1- bedroom units(some over-sized) and (4) Studio apartments. Rents range from $400 -$550 p/m. Property underwent a large renovation in 2016 which included some new HVAC units as well as windows and the complete exterior of the building was repainted. 10 units had full renovations completed and 3 units were lightly rehabbed. All tenants are current and the historical vacancy rate is 3%. Value added possibilities are to remodel units 1 and 2 and increase rents so be receiving an extra $200 p/m. Also the addition of storage lockers could add an extra $25 p/m to each unit Landlord pays for water, sewer and trash and a house electric meter. Gross Income: $67,230 / Expenses: $27,882 / NOI $39,348. Cap Rate is 9.84%
Property Type: Multi Family Home
Sub Type: Multi-Family 5+
Listing Status: Active
County/Area: St Clair County
Zip Code: 62226
Year Built: 1936
Subdivision/Neighborhood: E Of Sub
School District: Belleville Dist 118
Elementary School: Belleville Dist 118
Middle School: Belleville Dist 118
High School: Belleville High School-West
Lot Size: 4922 sq ft
Association: Realtor Association of Southwestern Illinois
Copyright 2019, Mid America Regional Information Systems, Inc.(MARIS). All rights reserved. Berkshire Hathaway HomeServices Elite Properties does not display the entire IDX database of Mid America Regional Information
Systems, Inc. (MARIS MLS) on this web site. Property listings of some REALTORS ®
brokerage firms have been excluded. Listings displaying the MARIS logo are courtesy of the participants of Mid America Regional Information Systems Internet Data Exchange.
Information provided deemed to be reliable but is not guaranteed to be accurate. Buyers are advised to verify all facts before making a decision on purchasing a property. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user. Mid America Regional information Systems, Inc. (MARIS) will not be held responsibility for the content of such records.
Last Updated On: 2018-05-22.