1936 Benton ST new Save Request In-Person Tour Request Virtual Tour
St Louis,MO 63106
Key Details
Property Type Multi-Family
Sub Type 5 Family or More
Listing Status Active
Purchase Type For Sale
Square Footage 26,085 sqft
Price per Sqft $44
Subdivision Union Addition
MLS Listing ID 25053581
Year Built 1890
Property Sub-Type 5 Family or More
Property Description
The Benton Street Apartments are a 24-unit multifamily asset in St. Louis City in walking distance to the new NGA West Headquarters. This historic brick row-style property was completed renovated in April of 2013 and offers a classic architectural presence with updated interiors, in-unit laundry hook ups, updated appliances, updated flooring, kitchens, and more. With close proximity to Downtown, major highways, public transit, and key redevelopment zones, Benton Street Apartments are well positioned for long-term appreciation and consistent cash flow. Ideal for investors seeking scale and value in an emerging urban corridor.
The current rent roll totals $17,690 which includes two vacant units and two down units. This allows investors to raise occupancy and renovate the two down units to increase cash flow significantly. With the current rent roll annualized and T12 expenses, the property is performing at a 10.89% cap rate which offers incredibly strong returns with great upside potential. Please reach out to the brokers with any questions.
24 Multifamily Units Fully Renovated in 2013
12.80% Cap Rate w/ In Place RR & T12 Expenses
Very Strong In-Place Performance w/ Significant Upside
Walkable to the Brand New NGA Campus
Mix of 1 Bd / 1Ba, 1 Bd / 1.5 Ba and 2 Bd / 1.5 Ba Units
Location
State MO
County St Louis City
Area 5 - North
Interior
Heating Forced Air
Cooling Ceiling Fan(s),Central Air
Flooring Carpet,Vinyl
Fireplaces Type None
Laundry Electric Dryer Hookup,Gas Dryer Hookup
Exterior
Parking Features false
Utilities Available Electricity Connected,Natural Gas Connected,Sewer Connected,Water Connected
Roof Type Architectural Shingle,Flat,Membrane
Building
Lot Description City Lot,Corner Lot,Near Public Transit
Water Public
Structure Type Brick
Schools
Elementary Schools Columbia Elem. Comm. Ed. Center
Middle Schools Yeatman-Liddell Middle School
High Schools Vashon High
School District St. Louis City
Others
Acceptable Financing 1031 Exchange,Cash,Conventional
Listing Terms 1031 Exchange,Cash,Conventional
Special Listing Condition Standard