4432-4434 Olive St - Apartments FOR SALE


Saint Louis, MO 63108- Central West End
$1,400,000 USD
314-451-7145
4432-4434 Olive St, Saint Louis, MO for Sale
$1,400,000 USD
Apartments - FOR SALE
1/13
null | 7.12% Cap Rate

4432-4434 Olive St
Saint Louis, MO 63108
Central West End


HIGHLIGHTS

  • Large 2 bed/2 bath units with In-Unit Laundry
  • Located in the Central West End
  • Off-Street Secured Parking Lot
  • Below Market Rents
  • Condo Conversion Potential | $285,000 average sale price

OVERVIEW

4432-4434 Olive presents a prime investment opportunity in the heart of St. Louis' prestigious Central West End neighborhood. The property consists of 8 apartments. The property underwent a total and complete redevelopment in late 2012. All systems were updated or installed at that time. This results in a fully updated building with modern finishes that retains its historic charm which tenants desire. Each unit is a large 2 bed & 2 bath unit with in unit laundry. The rear of the property has a secure eight car parking lot. The property not only offers strong in place financial performance but also allows for significant appreciation through raising rents to market. This is truly an amazing opportunity in the City's premier Central West End neighborhood, with significant upside. Another strategy is to convert the units to condos for resale. The immediate area has multiple sale comparables that average $285,000 for a 2 bed, 2 bath unit. This provides a very lucrative exit strategy.

FOR SALE DETAILS

PRICE

$1,400,000 USD

PRICE/SF

$149 USD /SF

# OF UNITS

8

PRICE/UNIT

$175,000

CAP RATE

7.12%

% LEASED

75%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1897

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.18 AC

LAND SF

7,749 SF

ZONING

G

APN/PARCEL ID

4580-05-0060-1

ASK ABOUT THIS PROPERTY

Tim McCarthySalient Realty Group LLCMore Info
314-451-7145

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Tim McCarthySalient Realty Group LLCMore Info
314-451-7145

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.