$104,900
10514 Spring Garden is a strong turnkey rental opportunity for any new or experienced investor. This well maintained 3 bedroom, 1 bathroom home is currently leased to a Section 8 tenant for $1,250 per month, with a lease in place through 8/31/26. This property is part of an 8 home single family rental portfolio, and the seller would prefer to sell the portfolio together or in groups, though each home is also being offered individually. The portfolio is made up entirely of 3 bedroom houses, including six 3 bed 1 bath homes, one 3 bed 1.5 bath home, and one 3 bed 2 bath home.
7/8 houses currently occupied, with current rents totaling $8,140 per month. Once the two vacant units are leased, scheduled rents are projected to reach $10,640 per month. There is also additional upside as units turn, with pro forma rents projected to exceed $11,000 per month.
Ownership and management have been hands on and proactive during their time operating the portfolio, with a focus on maintaining safe, solid housing and keeping the properties in good condition making this portfolio a true turnkey investment. Most of the tenants are Section 8, with one market rate tenant currently in place, providing stable income in a strong rental area. The properties are also located near one another, which helps from both a management and operational standpoint.
This is a great opportunity for an investor looking to add quality rental doors to an existing portfolio, or for someone looking to get started with a well positioned group of income producing properties.
3
Beds
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1
Baths
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26020453
MLS
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ACTIVE
Status
10514 Spring Garden Dr, St Louis