Opportunity to acquire this 25-unit turnkey property located at 6010-6020 South Kingshighway Boulevard in the Princeton Heights neighborhood of South City, St. Louis. Beautiful Art-Deco building constructed in 1940 and fully-renovated in 2013, the Property features a mix of studio, one, two, and three bedroom units. Located in a submarket with historically phenomenal occupancy, allowing investors to acquire a well-performing asset with the opportunity to push rents through further upgrades during the new ownership period. Summary Below:
•Avg. In Place Rents of $1026 is $89 below $1115 market average
•One Studio, Twelve One Bedrooms, Six Two Bedrooms, & Six Three Bedrooms Provide Great Unit Mix
•Currently 92% Occupied
•Exclusive garage parking + gated surface lot (32 spaces) – a rare amenity in this area
•Units feature fully-equipped kitchens w/ stainless steel appliances, hardwood floors, and updated fixtures.
•Shared Laundry in the basement – 8 full-size washers and dryers