Property
Beds
None
Full Baths
None
1/2 Baths
None
Year Built
1906
Sq.Footage
61,946
Exquisite Trophy property in the heart of Soulard***36 loft-style apartments in an iconic Ittner-designed former school building***Existing Fannie Mae financing to be assumed - 3.62% interest with 8.5 years remaining - well below current market rates!***Gracious entryway and hallways with impressive scale and elegance - feels like a quality hotel***top-to-bottom renovation in 2017, loft-style apartments with 10-12+ foot ceilings, huge windows providing ample natural lighting, refinished concrete and original hardwood floors, original built-ins from former school days, designer lighting, gym, numerous outdoor spaces on the 1.59 acre lot. Solar panels reduce building electric costs, 33 car gated, secured parking lot plus the nicest 11 car garage you'll ever see. 18.43% projected 10 year IRR with existing loan assumed. 6.21% cap rate and 10.87% cash-on-cash on Y1 proforma. 6.15% cap on May RR. Add in-unit laundry to boost cash-on-cash returns into the 13-14% region. Qualified buyers only
Features & Amenities
Interior
-
Total Bedrooms
N/A
-
Bathrooms
N/A
-
Above Grade Finished Area
61946.0
-
Basement YN
NO
-
Cooling YN
YES
-
Cooling
Central Air, Electric
-
Fireplace YN
NO
-
Heating YN
YES
-
Heating
Forced Air, Electric
-
Pet friendly
N/A
Exterior
-
Garage
No
-
Construction Materials
Brick
-
Other Exterior Features
Balcony
-
Parking
Assigned, Garage, Secured
-
Pool
No
-
Waterfront YN
NO
Area & Lot
-
Lot Size(acres)
1.59
-
Property Type
Residential Income
-
Property Sub Type
Multi Family
-
Architectural Style
Mid-Rise 3or4 Story
Price
-
Sales Price
$7,600,000
-
Tax Amount
$12,948
-
Sq. Footage
61, 946
-
Price/SqFt
$122
HOA
-
Association
No
School District
-
Elementary School
Peabody Elem.
-
Middle School
Peabody Elem.
-
High School
Vashon High
Property Features
-
Association Amenities
Fitness Center
-
Ownership
Private
-
Sewer
Public Sewer
-
Water Source
Public
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Location
County
St Louis City-MO
Elementary School
Peabody Elem.
Middle School
Peabody Elem.
High School
Vashon High
Listing Courtesy of Paul J Cunningham , RE/MAX Results
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