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About the Listing LRES01 - RWMEYER,MKASTNER
This renovated property features 6 truly, turn-key, 1 BR units that stay in demand & are easily rented. The property underwent a wholesale renovation roughly 15 years ago with updates to all major components (roof, plumbing, electrical, HVAC, windows, etc.). All units offer updated kitchens with dishwashers, spacious bathrooms with tub/ shower combo, central heating & cooling, and in-unit Washer/ Dryer). Plus, the building is all electric which is another big selling point for tenants. Over half the building is occupied by long-term tenants, some of which have been there 5+ years. There is off-street parking on a concrete pad in back. All tenants are on market rate leases and gross monthly revenues surpass $4,500 at 100% occupancy. At current financials (let's repeat that - at current financials - not some dream world), the cap rate is exceeding 8%. The building is located in the Historic, Carondelet neighborhood within walking distance to several desirable amenities: Upgraded YMCA Rec-Plex; Grocery & Retail Stores; Carondelet Park with lake, trails and playgrounds; Great Rivers Greenway trails; locally-owned restaurants like Stacked & Perennial Artisan Ales; and easy access to public transportation. This is a stable, cash-flowing investment that you’ll want to add to your portfolio! 1 unit was built-out as ADA compliant. Seller is currently keeping 1 unit vacant for showings but it will likely fill quickly. Make your appointment to view soon! This property can be sold together as a package with MLS #s: 25076015 & 25065186
Listing Highlights
Status
Active
Days on Site
33
Property Type
Multi-Family
MLS ®
25076014
Year Built
1870
Total Square Footage
4,217
Lot/Acreage
0.14
County
St Louis City
Neighborhood
John C Ivorys Sub
Area
3 - South City
School District
St. Louis City
Elementary School
Woerner Elem.
Middle School
Lyon-Blow Middle
High School
Roosevelt High
Interior Details
- Bedrooms: 1
- Bathrooms: 1 Full
- Appliances: Electric Water Heater
- Air Cond: Central Air,Electric
- Heating: Electric,Forced Air
- Fireplaces:
- Floor:
- Above Ground Sq Ft: 4217
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water: Public
Exterior Details
- Garage Capacity: N/A
- Parking Spaces: 4
- Roof: Shingle
- Others: Updated/Remodeled
- Sewer:
- Parking Features: On Street,Open,Parking Lot,Unassigned
Financial Details
- Tax Amount: $1,926
- Taxes w/Assessments: N/A
- Tax/Property ID: 3082-00-0140-1
- Tax Year: 2025
Payment Calculator
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Questions About..
225 W Steins St St Louis, MO 63111
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