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8700 Crocus, St Louis, MO 63114
0 Beds
0 Baths
39,600 sqft

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56 Unit apt complex located across the street from Home Heights Park and minutes from downtown Clayton and the airport. Comprised of 10 brick buildings with pitched roofs & plenty of parking for the tenants. 24 two bed & 32 one bed apts. Rents have been, and can be, increased to as much as $550 for the 1 beds & $650 for the 2 beds. Building is currently grossing $381k/yr with a net income of $252k; an 8.1% cap rate. With 1 bed rents at $550 & $650 for 2 bed across the board, the gross rent would be nearly $400k/yr. There have been updates to many of the units including updated kitchen cabinets, flooring, double pane windows, etc. Other recent capital improvements include emergency fire escapes, welding, and pvc plumbing stack replacement. There is an on site management company in place which is currently charging a 4% management fee that would be open to continuing to manage the property. Current vacancy is under 2% and there have been long waiting lists for tenants wanting to move in.
  • Price:
  • $3,100,000
  • Square Footage:
  • 39,600
  • Acreage:
  • 1.81
  • Year Built:
  • 1959
  • Listing ID #:
  • 19040346
  • Street Address:
  • 8700 Crocus
  • City:
  • St Louis
  • State:
  • Missouri
  • Postal Code:
  • 63114
  • County:
  • St Louis
  • Subdivision:
  • Crocus Court
  • Listing Status:
  • Pending
  • Age Of Dwelling:
  • 60
  • Construction Description:
  • Brick/Stone Msn Pred
  • Dwelling Type:
  • Apartment Complex
  • Square Footage Source:
  • County Records
  • Total Building Square Footage:
  • 39600
  • Expenses:
  • 129123.00
  • Net Operating Income:
  • 252477.00
  • Approximate Lot Size Range Source:
  • County Records
  • Lot Square Footage:
  • 78844
  • Days On Market:
  • 80
  • For Sale Or Lease?:
  • Sale
  • Included In Sale:
  • Building & Land
  • Terms:
  • Cash, Conventional, Private, Va, Other
  • Tax Municipality:
  • St. John
  • Property Taxes:
  • $38,760
  • Tenant Pays:
  • Cable Tv/Satellite, Electric, Gas
  • Parking Description:
  • Parking Lot
  • Cooling System:
  • Wall Unit(s), Central-Electric, Window Unit(s)
  • Existing Water:
  • Public
  • Heating:
  • Baseboard, Forced Air, Individual Furnaces
  • Heating Fuel:
  • Electric, Gas
  • Laundry:
  • Coin Operated, Common Laundry
  • Sewage Type:
  • Public
  • Water Heater:
  • Electric, Gas
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The amounts for the Tax, Insurance, and HOA are estimates and not actual amounts.

Your Payment
$1,400/mo
  • Listing Provided By: Invest St. Louis
  • LOUIS
  • Schools information provided by ATTOM

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