This great opportunity to purchase a very large four apartment brick built
four apartment multi family home is located in Mark Twain, St Louis and is
just four minutes and a short walk to Walbridge School.
The property is split into four large one bedroom apartments. One of the
apartments has a long term tenant in place paying $550 in rent each month.
The remaining three apartments are now vacant. There is $15,000 included
in the price to update the three apartments to a Section 8 standard. The
work will begin after the new owner closes on the property when completed
the management company will place brand new tenants paying $650 – $700
in rent each month.
This property is located in Mark Twain, St Louis which is only 6.6 miles from
the centre of Downtown Saint Louis. This property is also walking distance
to Walbridge Elementary School, there are many great schools in this area.
Purchase price: 119,900
Gross annual rental income: $31,800
Property running costs: $4,557
(Tax, insurance and management costs)
Net annual rental income: $27,243
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 23%Break even in 4.34 Years