Rare opportunity to acquire an investment property in the heart of O'Fallon! This is a 4 unit building w/ each unit consisting of a living room w/ eating area, kitchen, 2 bedrooms & bath. There is open street parking & patio at rear. Unit 1-rented at $675 with long term month to month tenant; Unit 2-rented at $700 with 1 year lease; Unit 3 -made vacant for showing opportunities but could rent for at least $700; Unit 4- rented at $700 with 1 year lease. All appliances in the units stay. Expenses include: insurance at $2,745; real estate taxes $4,940; utilities at $4,200 (Owner pays water, trash & common lighting). GRM is 8.3 & Cap Rate is 8.1%. The current owner is having a few minor repairs finalized to include the peninsula & light in kitchen, drywall in BR under window & toilet re-installed in bath. Unit #3 for showings & remaining units will be made available after an accepted offer. Roof replaced 2013 & age of systems is unknown. Going Market rent is calculated at $750 per unit.
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
