Great opportunity to purchase a turnkey 16 unit multi family building in sought after Lindenwood Park. This building previously owned by musician Chuck Berry has been meticulously maintained and features true one bed units that have all been updated in the last 7 years. These units are easy to rent and rents could be raised to market rent of $525. Currently 15 of the 16 units are rented and the last one is being left vacant to show. Units feature individual systems, hardwood floors, have an open floor plan and large bedrooms. The building has newer vinyl windows, a 50 year architectural roof was just replaced last year, off street parking, coin operated laundry, a spotless clean and dry basement with separate storage lockers for each unit. After vacancy and expenses the building generates a net income of $60,396 annually, which is an 8.6% capitalization rate. This is an ideal investment property with low maintenance and upkeep, already producing a steady stream of income. Brokered And Advertised By: Invest St. Louis Listing Agent: Jordan Schoen
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