4317 Morganford

$999,900

Bricky City Realty Brokered by Real Broker LLC

Welcome to Bevo! This 16 Unit building is fully occupied and has had half of the units cosmetically updated in 2021! There
are several stable long-term tenants who intend to stay so the building is ready to be your turnkey investment, with a 9.7%
cap with room to raise some of the rents and increase that over time. A laundry room has been outfitted and will have
laundry services provided by Hoppy’s starting in August 2021, which should bring a little extra income. There is a large
parking lot for tenant use. Convenient to public transportation and centrally located in south city.
Tenants are unaware of the sale, please do not disturb them, walk the property or attempt to hold a conversation!
This property can be viewed after a contract agreement is reached.
Roof: The roof was replaced in 2020 by a previous owner. New Fascia, soffits, and gutters installed in 2021.
HVAC: Five Central ACs (one new in 2021) and Four new Furnaces in 2020. Eight new window ACs installed in 2021.
Electricity: Separate meters and minimal landlord paid electric. New front and lateral exterior lighting installed in 2020.
Storage lockers and washer/dryer hook-ups No storage is provided. Laundry will be provided and maintained by Hoppy’s by the end of August
2021
Sewer: Was inspected in 2020 and showed no issues.
Appliances: Some new appliances, and spare/extra like new appliances are in the basement and will stay in the sale at no value.
Tenancy: Fully occupied, three are subsidized.
MINING: This property currently has a crypto mining device and antenna installed on the roof that can be transferred with the sale or removed.
The income varies based on activity and value of cryptocurrency token but yielded $675 in the July and requires no active action from owner.
Photos can be found at the link.

Lynne Hart | 314-324-6907 | lynne@saintlouisrealestate.co

Financials

Lynne Hart | 314-324-6907 | lynne@saintlouisrealestate.co

Apartment Detail / Rent Roll

Lynne Hart | 314-324-6907 | lynne@saintlouisrealestate.co

 Comparable Sales

Date Sold Address List Price Sale Price Days to contract Net Operating Income # of Units Cap Rate Price/Unit
8/27/2020 3805 Itaska 1195000 $1,195,000 67 $143,647 24 12.0% $49,792
2/18/2021 440 Eichelberger 619000 $660,000 25 $48,300 16 7.3% $41,250
3/24/2021 3752 Chippewa 735000 $665,000 197 $59,914 14 9.0% $47,500
4/16/2021 4448 Morganford 695000 $715,000 42 $60,000 12 8.4% $17,024
4/28/2021 6265 Gravois 950000 $839,000 66 $80,180 16 9.6% $52,438
4/30/2021 1000 Bates 649000 $600,000 45 $59,162 12 9.9% $50,000
5/7/2021 3862 South Spring 1049000 $1,060,000 59 $104,957 18 9.9% $58,889
11/7/2021 4317 Morganford $999,900 0 $94,785 16 9.5% $62,494

Lynne Hart | 314-324-6907 | lynne@saintlouisrealestate.co

Lynne Hart | 314-324-6907 | lynne@saintlouisrealestate.co
Lynne Hart | 314-324-6907 | lynne@saintlouisrealestate.co
Lynne Hart | 314-324-6907 | lynne@saintlouisrealestate.co
Lynne Hart | 314-324-6907 | lynne@saintlouisrealestate.co
Lynne Hart | 314-324-6907 | lynne@saintlouisrealestate.co