This fantastic two apartment multi family home is located in Hamilton Heights, St Louis
and is just eight minutes and 2.4 miles from Washington University St Louis.
The property is divided into two large apartments, you have a large two bedroom
apartment downstairs and a large two bedroom apartment upstairs. Both apartments
have recently been refurbished. The upper apartment has a tenant in place paying
$650 in rent each month and the lower apartment is rental ready. The management
company will place brand new tenants when the new owner closes on the property
paying $600 – $650 each in rent per month, the new tenant can either be Section 8
housing or private.
The property is located in Hamilton Heights which is only 8.3 miles from Downtown
Saint Louis.The Hamilton Heights neighbourhood in St. Louis is undergoing a much
needed transformation as part of a new Blight Elimination project.. Hamilton Heights sits
rught next door to West End where similar projects have now rejuvenated the area with
luxury properties now in abundance. This is a god area for speculated capital
Purchase price: 65,900
Gross annual rental income: $15,600
Property running costs: $2,499
(Tax, insurance and management costs)
Net annual rental income: $13,101
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 20%Break even in 5 Years