4042 Nebraska Ave, St Louis, MO 63118

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)