Rock Island Realty

763 Chamberlain Place

St Louis , MO 63119

MLS#: 24019919

$4,730,000

Status: Closed
Listing number: 24019919
Listing provided by: The Agency
Listing agent phone: None
Last update: N/A
On site: N/A
Browse Properties
John D Finney - Residential Income

Property

Beds

None

Full Baths

None

1/2 Baths

None

Year Built

1960

Sq.Footage

N/A

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.

Features & Amenities

Interior

  • Total Bedrooms

    N/A

  • Bathrooms

    N/A

  • Basement YN

    NO

  • Cooling YN

    YES

  • Cooling

    Central Air, Electric

  • Fireplace YN

    NO

  • Heating YN

    YES

  • Heating

    Natural Gas, Forced Air

  • Pet friendly

    N/A

Exterior

  • Garage

    No

  • Parking

    Assigned, Guest, Garage

  • Pool

    No

  • Waterfront YN

    NO

Area & Lot

  • Lot Size(acres)

    1.71

  • Property Type

    Residential Income

  • Property Sub Type

    Multi Family

Price

  • Sales Price

    $4,730,000

  • Tax Amount

    $25,486

  • Sq. Footage

    N/A

  • Price/SqFt

    N/A

HOA

  • Association

    No

School District

  • Elementary School

    Avery Elem.

  • Middle School

    Hixson Middle

  • High School

    Webster Groves High

Property Features

  • Sewer

    Public Sewer

  • Water Source

    Public

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Location

County

St. Louis-MO

Elementary School

Avery Elem.

Middle School

Hixson Middle

High School

Webster Groves High

Listing Courtesy of Anthony M Klier , The Agency

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(573) 480-8130

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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.

763 Chamberlain Place

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