Rock Island Realty

Historic

1936 Benton Street

St Louis, MO 63106

MLS#: 25053581

$1,150,000

Status: Closed
Listing number: 25053581
Listing provided by: Salient Realty Group, LLC
Listing agent phone: None
Last update: 4 months ago
On site: 8 months ago
Browse Properties
Union Addition - Residential Income

Property

Beds

None

Full Baths

None

1/2 Baths

None

Year Built

1890

Sq.Footage

26,085

The Benton Street Apartments are a 26-unit multifamily asset in St. Louis City in walking distance to the new NGA West Headquarters. This historic brick row-style property was completed renovated in April of 2013 and offers a classic architectural presence with updated interiors, in-unit laundry hook ups, updated appliances, updated flooring, kitchens, and more. The current rent roll totals $19,570 which includes four (4) down units. This allows investors to raise occupancy and renovate the down units to increase cash flow significantly. With the current rent roll annualized and T12 expenses, the property is performing at a 11.93% cap rate which offers incredibly strong returns with great upside potential. Please reach out to the brokers with any questions. The current rent roll totals $17,690 which includes two vacant units and two down units. This allows investors to raise occupancy and renovate the two down units to increase cash flow significantly. With the current rent roll annualized and T12 expenses, the property is performing at a 10.89% cap rate which offers incredibly strong returns with great upside potential. Please reach out to the brokers with any questions. 24 Multifamily Units Fully Renovated in 2013 12.80% Cap Rate w/ In Place RR & T12 Expenses Very Strong In-Place Performance w/ Significant Upside Walkable to the Brand New NGA Campus Mix of 1 Bd / 1Ba, 1 Bd / 1.5 Ba and 2 Bd / 1.5 Ba Units

Features & Amenities

Interior

  • Total Bedrooms

    N/A

  • Bathrooms

    N/A

  • Above Grade Finished Area

    34308.0

  • Basement YN

    YES

  • Cooling YN

    YES

  • Cooling

    Ceiling Fan(s), Central Air

  • Fireplace YN

    NO

  • Heating YN

    YES

  • Heating

    Forced Air

  • Pet friendly

    N/A

Exterior

  • Garage

    No

  • Construction Materials

    Brick

  • Parking

    Off Street, On Street

  • Patio and Porch Features

    Deck

  • Pool

    No

  • Waterfront YN

    NO

Area & Lot

  • Lot Features

    City Lot, Corner Lot, Near Public Transit

  • Property Type

    Residential Income

  • Property Sub Type

    Multi Family

  • Architectural Style

    Historic

Price

  • Sales Price

    $1,150,000

  • Tax Amount

    $1,701

  • Sq. Footage

    26, 085

  • Price/SqFt

    $44

HOA

  • Association

    No

School District

  • Elementary School

    Columbia Elem. Comm. Ed. Center

  • Middle School

    Yeatman-Liddell Middle School

  • High School

    Vashon High

Property Features

  • Foundation Details

    Block, Combination

  • Senior Community YN

    NO

  • Water Source

    Public

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Location

County

St Louis City

Elementary School

Columbia Elem. Comm. Ed. Center

Middle School

Yeatman-Liddell Middle School

High School

Vashon High

Listing Courtesy of Garen Lafser , Salient Realty Group, LLC

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Greg Tolbert

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(573) 280-1219

greg@homeatthelake.com


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The Benton Street Apartments are a 26-unit multifamily asset in St. Louis City in walking distance to the new NGA West Headquarters. This historic brick row-style property was completed renovated in April of 2013 and offers a classic architectural presence with updated interiors, in-unit laundry hook ups, updated appliances, updated flooring, kitchens, and more. The current rent roll totals $19,570 which includes four (4) down units. This allows investors to raise occupancy and renovate the down units to increase cash flow significantly. With the current rent roll annualized and T12 expenses, the property is performing at a 11.93% cap rate which offers incredibly strong returns with great upside potential. Please reach out to the brokers with any questions. The current rent roll totals $17,690 which includes two vacant units and two down units. This allows investors to raise occupancy and renovate the two down units to increase cash flow significantly. With the current rent roll annualized and T12 expenses, the property is performing at a 10.89% cap rate which offers incredibly strong returns with great upside potential. Please reach out to the brokers with any questions. 24 Multifamily Units Fully Renovated in 2013 12.80% Cap Rate w/ In Place RR & T12 Expenses Very Strong In-Place Performance w/ Significant Upside Walkable to the Brand New NGA Campus Mix of 1 Bd / 1Ba, 1 Bd / 1.5 Ba and 2 Bd / 1.5 Ba Units

1936 Benton Street

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