REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 450,000
Est. payment /mo
Active
4042 Nebraska AVE St Louis, MO 63118
7,919 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type 2-4 Units
Listing Status Active
Purchase Type For Sale
Square Footage 7,919 sqft
Price per Sqft $56
Subdivision Irwin Z Smiths Add
MLS Listing ID 26031698
Style Apartment Style
Year Built 1890
Annual Tax Amount $784
Lot Size 6,198 Sqft
Acres 0.1423
Property Sub-Type 2-4 Units
Property Description
This beautiful, refurbished 4-unit brick apartment building is a landlord's CASH COW!!! CAP RATE 13.55%!!! CAP RATE = NOI / ASKING PRICE X 100 DO THE MATH!!!! (see below). Featuring two massive 6-bedroom 2-bath units and two spacious 2-bedroom 1-bath units. Enjoy fantastic cash flow with an estimated gross monthly income of $6,600 ($2,100 month for the 6-bed units; $1,200 month for the 2-bed units). Updated kitchens and baths. Newer windows, fresh paint and refinished floors. All occupancy permits have been passed , add the kitchen appliances, and this high-yield multiplex is rental-ready. At an asking price of $450,000, this property represents an exceptionally strong financial opportunity with a projected Capitalization Rate (Cap Rate) of 13.55%!!!
Gross Annual Income: $79,200
-5% Vacancy Allowance: $3,960
Effective Gross Income (EGI): $75,240
Estimated Operating Expenses
$784 Taxes
Estimated Property Insurance $2,500
Maintenance & Reserves (5% of Gross) $3,960
Property Management (8% of Gross) $6,019
Admin/Misc Exp $1,000
Total Estimated Operating Expenses = $14,263
$75,240 - $14,263 = $60,977 (Net Operating Income)
Gross Annual Income: $79,200
-5% Vacancy Allowance: $3,960
Effective Gross Income (EGI): $75,240
Estimated Operating Expenses
$784 Taxes
Estimated Property Insurance $2,500
Maintenance & Reserves (5% of Gross) $3,960
Property Management (8% of Gross) $6,019
Admin/Misc Exp $1,000
Total Estimated Operating Expenses = $14,263
$75,240 - $14,263 = $60,977 (Net Operating Income)
Location
State MO
County St Louis City
Area 2 - Central East
Interior
Cooling None
Flooring Linoleum, Wood
Fireplace N
Exterior
Parking Features false
View Y/N No
Building
Water Public
Structure Type Brick
Schools
Elementary Schools Meramec Elem.
Middle Schools Fanning Middle Community Ed.
High Schools Roosevelt High
School District St. Louis City
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition Listing As Is
Listed by Jody Parrish • EXP Realty, LLC