Property
Beds
None
Full Baths
None
1/2 Baths
None
Year Built
1964
Sq.Footage
15,508
Ashby Heights Apartments is a 20-unit apartment complex property at 3225-33 Ashby Rd, in St. Louis, Missouri. Ashby Heights offers a tremendous value add opportunity with a proven cosmetic update plan. 6 of the 20 units have already been updated and are experiencing incredible demand from the rental market. Ashby Heights Apartments has an in place cap rate of 7.03% and once the cosmetic update plan has been completed, an 8.40% unlevered yield on cost ($1,499,000 purchase + $9,000 x 14 units = $1,625,000 total cost). The property offers abundant off-street parking (+/- 25 spaces). A new coin operated laundry room has been added to the basement to serve non-updated units while the renovation plan is executed. All units have central air conditioning and heat. The property has walk out basements that provide an option for an owner to offer storage to tenants for additional income.
Features & Amenities
Interior
-
Total Bedrooms
N/A
-
Bathrooms
N/A
-
Above Grade Finished Area
15508.0
-
Basement YN
NO
-
Cooling YN
YES
-
Cooling
Electric, Gas, Central Air
-
Fireplace YN
NO
-
Heating YN
YES
-
Heating
Forced Air, Natural Gas
-
Pet friendly
Cats OK, Dogs OK
Exterior
-
Garage
No
-
Construction Materials
Brick Veneer
-
Parking
Assigned, Open, Parking Lot
-
Pool
No
-
Waterfront YN
NO
Area & Lot
-
Lot Size(acres)
0.67
-
Property Type
Residential Income
-
Property Sub Type
Multi Family
-
Architectural Style
Low/1-2
Price
-
Sales Price
$1,499,000
-
Tax Amount
$18,733
-
Sq. Footage
15, 508
-
Price/SqFt
$96
HOA
-
Association
No
School District
-
Elementary School
Buder Elem.
-
Middle School
Hoech Middle
-
High School
Ritenour Sr. High
Property Features
-
Ownership
Private
-
Sewer
Public Sewer
-
Water Source
Public
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Location
County
St. Louis-MO
Elementary School
Buder Elem.
Middle School
Hoech Middle
High School
Ritenour Sr. High
Listing Courtesy of Tyler Alms , Salient Realty Group, LLC
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FOUNDER
Colleen Brown
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