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763 Chamberlain Place

St Louis, MO 63119
  • $4,730,000
  • STATUS: Active
  • ON SITE: 14 Days
  • ID#: 24019919
UPDATED: 169 min ago
$4,730,000
  • 0
    BEDS
  • 1.71
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1960
County:

School Information

Elementary School:
Middle School:
High School:
School District:

Description

Fully renovated 38 unit apartment building in Webster Groves, 100% occupied with 20 units already leased at proforma rents. Currently the property is bringing in $41,618/month. The 1beds are leasing for $1075/month to $1210/month. The 2beds are leasing for $1350/month to $1425/month. EVERY APARTMENT has IN UNIT LAUNDRY, stainless steel appliances, white shaker cabinets, granite counters, tiled bathrooms and are a great size- extremely easy to lease. 36 GARAGE PARKING spaces + over a dozen off street parking spaces. The property has a pool in the center of the gated courtyard. If you annualize the current rent roll, factor in 5% vacancy and use the 2023 expenses- you arrive at a CAP RATE OF 7.83%. Once you bring all the units to proforma rents, you will be over a 9% cap rate. An in-place cap rate of a building this nice in Webster Groves is truly unheard of. This is extremely popular for Webster University students as they can walk to class. Ask for T12, rent roll and appraisal.

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Listing information © 2024 Mid America Regional Information Systems, Inc. Information from third parties deemed reliable but not verified. Data last update 2024-04-18T16:28:42.433.

The Becky O'Neill Power Home Selling Team | RE/MAX RESULTS: 314-394-5499
www.beckyoneill.com/homes/149164850
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763 Chamberlain Place St Louis, MO 63119

  • Price: $4,730,000
  • Status: Active
  • On Site: 14 Days
  • Updated: 169 min ago
  • ID#: 24019919
0
Beds
0
Baths
0
½ Baths
1.71
Acres
1960
Built
Neighborhood:
John D Finney
County:
St Louis
Area:
Webster Groves
Elementary School:
Avery Elem.
Middle School:
Hixson Middle
High School:
Webster Groves High
School District:
Webster Groves
Property Description
Fully renovated 38 unit apartment building in Webster Groves, 100% occupied with 20 units already leased at proforma rents. Currently the property is bringing in $41,618/month. The 1beds are leasing for $1075/month to $1210/month. The 2beds are leasing for $1350/month to $1425/month. EVERY APARTMENT has IN UNIT LAUNDRY, stainless steel appliances, white shaker cabinets, granite counters, tiled bathrooms and are a great size- extremely easy to lease. 36 GARAGE PARKING spaces + over a dozen off street parking spaces. The property has a pool in the center of the gated courtyard. If you annualize the current rent roll, factor in 5% vacancy and use the 2023 expenses- you arrive at a CAP RATE OF 7.83%. Once you bring all the units to proforma rents, you will be over a 9% cap rate. An in-place cap rate of a building this nice in Webster Groves is truly unheard of. This is extremely popular for Webster University students as they can walk to class. Ask for T12, rent roll and appraisal.
Exterior Features

Attached Garage YN No Lot Size Dimensions 180x263 Parking Features Space/Unit - 1Guest ParkingParking Garage

Interior Features

Cooling Electric Heat Source Gas Heating Forced Air Heating YN Yes

Property Features

Association St. Louis Association of REALTORS Current Financing Cash OnlyConventionalExchange Disclosures UnknownSellers Discl Not Av Inclusions Building & Land Lease Term Leases Net Operating Income 302807 Possession Close Of Escrow Property Sub Type Multi-Family 5+ Property Sub Type Additional Apartment ComplexApt Bldg/Exterior En Sewer Public Sewer Special Listing Conditions None Tax Annual Amount 25486 Tax Year 2022 Tenant Pays ElectricityGas Transaction Type Sale Two Bed Units 9 Water Source Public

Listing provided courtesy of The Agency: 6771477. Listing information © 2024 Mid America Regional Information Systems, Inc.
Listing information © 2024 Mid America Regional Information Systems, Inc. Information from third parties deemed reliable but not verified. Data last update 2024-04-18T16:28:42.433.

The Becky O'Neill Power Home Selling Team | RE/MAX RESULTS: 314-394-5499
 
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The Becky O'Neill Power Home Selling Team | RE/MAX RESULTS
13208 Manchester Road
St. Louis MO, 63131