Courtesy: Invest St. Louis
314-325-6201
Rare opportunity to acquire a 12-home single-family rental portfolio offered as one package in the St. Louis market. Located throughout Spanish Lake, Ferguson, and Unincorporated North St. Louis County, the properties are positioned within close proximity for efficient management and maintenance. The portfolio features a desirable unit mix of all 3- and 4-bedroom homes, creating strong tenant demand from both Section 8 voucher holders and market-rate renters. Professionally managed and largely renovated/rent-ready, the portfolio offers a strong mix of in-place income with immediate lease-up upside. Current gross rental income is approximately $11,519/month, with four vacant homes fully rent-ready and actively being leased. Seller anticipates at least two additional homes leased prior to closing, increasing in-place income to approximately $14,100/month. Fully stabilized pro-forma gross rental income is projected at approximately $16,700/month, with estimated annual operating expenses of approximately $53,000 and projected stabilized NOI of approximately $147,000/year. At the $1,350,000 asking price, the portfolio offers a projected stabilized cap rate approaching 10.9%. An excellent opportunity for investors seeking immediate scale, efficient scattered-site operations, dependable rental demand, and value-add upside through lease-up of rent-ready homes.
Courtesy: EXP Realty, LLC
866-224-1761
Rare opportunity to pick up a two family flat in Berkeley at a price that works. Both units are 1 bedroom and 1 bath, each with LVP flooring throughout. HVAC is 4 to 5 years old and the roof is 5 to 6 years old, so the big ticket items have some life left in them. Slab foundation. One unit is currently occupied by family at $825 per month with no lease in place. Both units will be vacant at closing, giving you a clean start with tenants of your choosing. At the right purchase price this property hits the 1% rule, making the numbers easy to underwrite. Property needs a little TLC to pass occupancy but represents a straightforward rental opportunity for an investor ready to add a cash flowing asset to their portfolio. Sold as is. Seller will not provide occupancy.
Berkeley is located in Missouri. Berkeley, Missouri has a population of 8,310. Berkeley is less family-centric than the surrounding county with 13.17% of the households containing married families with children. The county average for households married with children is 29.08%.
The median household income in Berkeley, Missouri is $36,050. The median household income for the surrounding county is $72,562 compared to the national median of $69,021. The median age of people living in Berkeley is 33.3 years.
The average high temperature in July is 88.5 degrees, with an average low temperature in January of 23 degrees. The average rainfall is approximately 42.3 inches per year, with 12.8 inches of snow per year.
