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$2,275,000
26048678 MLS ⋅ ACTIVE Status
6201 Arsenal Street is a fully renovated 13-unit multi family property in St. Louis' 63139 corridor, located near the The Hill, The Clayton Central Business District, Forest Park, The Botanical Gardens, with easy access to highway 40 and 44. The property consists of twelve one-bedroom/one-bath apartments and one larger one-bedroom/one-and-one-half-bath residence. Originally developed with mixed-use space, the property was comprehensively renovated and three former commercial spaces were converted into apartments. Improvements include new electrical, plumbing, sewer, HVAC, windows and roof; rebuilt rear decks; tuckpointing; refinished common areas and basements; renovated kitchens and bathrooms; new appliances and fixtures; modernized layouts; and AT&T Fiber infrastructure to every unit. Current base rent is $15,855 per month. All one-bedroom/one-bath apartments renting below $1,250 can be raised to the in place rent for similar apartments at $1,250, producing pro forma base rent of $17,015 per month, creating a measurable path to NOI growth. This property can be purchased with 6008 Southwest Ave. 63139, which was also fully renovated, located a few blocks from the property.

6201 Arsenal St, St Louis
$2,750,000
26048673 MLS ⋅ ACTIVE Status
Fully renovated 13-unit multifamily property in St. Louis' 63139 corridor, a few blocks from The Hill and near Forest Park, the Barnes hospital complex, local dining, with easy access to highway 40 and 44. The unit mix includes eleven 1 bed/1 bath apartments, one 2 bed/2 bath apartment, and one 2 bed/2.5 bath apartment. The property underwent an extensive gut renovation, including conversion of three former commercial spaces into residential units. Improvements include new electrical, plumbing, sewer, HVAC, windows and roof; rebuilt rear decks; tuckpointing; renovated kitchens and bathrooms; refinished common areas and basements; new appliances and fixtures; redesigned layouts; and AT&T Fiber infrastructure to each residential unit. Stabilized cash flow with current annual income of $207,058, expenses of $39,980, and NOI of $167,078. Three off-street parking spaces. Can be purchased with 6201 Arsenal St, another fully renovated 13-unit building nearby.

6008 Southwest Ave, St Louis