5211-5215 ALASKA AVE – SOLD

January 21, 2020
June 9, 2020
Show all

5211-5215 ALASKA AVE – SOLD

List price of $139,500 ($34,875 per unit)   SOLD!

Investors – This updated South City 4 family is ready for you to make a GREAT ROI. New windows, new furnaces, newer electric panels, newer plumbing stacks, central AC to be installed in all units prior to closing. 3 of the 4 units occupied. The vacant unit was just rehabbed and is ready for a tenant. Market rents for the vacant unit are $550-$600.

Current tenants are mo-to-mo and below market at $414, $464, and $500. Once the vacant unit is filled, monthly income would be $1,928 or $23,136/yr. With an operating expense ratio of 35%, NOI would be $15,038 making this a 10.78 CAP. Plenty of room to raise rents & boost returns!

This is also a great opportunity for an owner occupant to take the vacant unit and have the other 3 units pay for your mortgage and other expenses. This is a great deal any way you look at it.

Tenants are not aware of the sale, please do not disturb them. One vacant unit & half of the basement available to show prior to an accepted contract.

Call listing broker to learn more and schedule a tour

Contact Garen Lafser at 314-374-3687 or glafser@salientrealtygroup.com with any questions.