NOT LISTED FOR SALE
18 Beds
6 Baths
9,304 Sq Ft
9,583 Sq Ft Lot

Last Sold October 11, 2016

19 Days on Market

Highlights

  • Formal Dining Room
  • Coin Laundry
  • 3-minute walk to Eastgate Park

About This Home

As of October 2016

Washington University student housing apartment offering! Well-located in the Delmar Loop neighborhood, just a block behind Wash U's new $80M mixed use development in The Loop. 100% leased through next May. Current rental rates are below market due to construction on the street during last leasing season. Offered at a 7.0% cap rate (9.5% cash-on-cash) on current rents in place, with Year 2 projected cap rate of 9% (19% cash-on-cash) with units leased at market rents of $1,495!! 3 bed market rents in this neighborhood are $1,495-1,895/mo. Unbelievable opportunity in a well-protected and high-growth market. Wash U owns most of the buildings here, very few individually-owned buildings left for acquisition (see map in supplements).

Kitchen and bath updates, newer stacks top to bottom both sides, thermal windows, brand new electric services being installed, separate HVAC & HWH. Highly walkable location- 86 walk score/79 bike score. Grocery store and dozens of restaurants 1 block away.

Last Agent to Sell the Property

Paul Cunningham

RE/MAX Results License #2000150563 Listed on: 08/18/2016

RE/MAX Results

Last Buyer's Agent

Default Zmember

Zdefault Office

Property Details

Home Type

  • Multi-Family

Year Built

  • 1923

Lot Details

  • 9,583 Sq Ft Lot
  • Lot Dimensions are 112x145x25x25x135

Interior Spaces

  • Formal Dining Room
  • Oven or Range

Parking

  • On-Street Parking
  • Parking Lot

Utilities

  • Heating System Uses Gas
  • Gas Water Heater

Community Details

  • Coin Laundry

Listing and Financial Details

  • Tenant pays for cable tv/satellite, electric, gas

Property Details

Home Type

Multi-Family

Year Built

1923

Lot Details

0

Listing Details

  • Sale Includes: Building & Land
  • Cross Street: Eastgate
  • Municipality Township: University City
  • Age: 91
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1923

Interior Features

  • Laundry: Coin Operated

Exterior Features

  • Exterior Features: Brick/Stone Msn Pred

Garage/Parking

  • Parking: On Street Parking, Parking Lot

Utilities

  • Cooling: Central-Electric
  • Heating: Forced Air
  • Sewer: Public
  • Water: Public
  • Water Heater: Gas

Lot Info

  • Lot Dimensions: 112X145X25X25X135
  • Lot Sq Ft: 9583
  • Location: City

Rental Info

  • Tenancy Type: Leases
  • Tenant Pays: Cable TV/Satellite, Electric, Gas

Multi Family

  • Building Number: 1
  • Gross Operating Income: 88500.00
  • Total Expenses: 21919.00

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
10/11/2016 10/11/16 Sold -- -- --
09/07/2016 09/07/16 Pending -- -- --
08/18/2016 08/18/16 For Sale $900,000 -- $97 / Sq Ft
Source: MARIS MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Source: MARIS MLS

MLS Number: MIS16058835

MARIS MLS

APN: 18H-4-2-105-7