100527 . 34 Home SFR St. Louis MO & IL

100527 . 34 Home SFR St. Louis MO & IL St. Louis, MO 62220

100527 . 34 Home SFR St. Louis MO & IL, St. Louis, MO, 62220
34 Home Single-Family Rental Investment Portfolio in St Louis
100527 . 34 Home SFR St. Louis MO & IL, St. Louis, MO, 62220
FOR SALE
Property Type:
Other Residential
Amount:
$2,085,700
Cap Rate:
10.01%
Last Verified:
Jul 07, 2020

Description

For more information visit www.SFRhub.com and search for portfolio 100527!

 

This diversified portfolio located in Western Illinois and just 25 miles outside of St. Louis, is made up of 14 single family detached homes, 2 townhomes, 6 duplexes, 7 mobile homes, and 6 finished lots. A total of $83,839 of recent capital improvements have been added to the properties, much of that going towards new roofs, rehabs, flooring, windows, furnaces, etc. The majority of homes have 2 or 3 bedrooms, and a few with 4 bedrooms. Each home contains highly detailed property notes, further explaining all improvements and unique qualities of the properties. At an 92.8% occupancy rate and all but 2 homes in active leases, this portfolio contains fully background checked tenants, 5 of which are section 8. All the leased units are currently on 12 month leases except 1 month-to-month lease. This portfolio offers a very appealing, low average property price of $59,591 which is 34% lower than the average home price in Belleville of $90,743 and 58% lower than the average home price in nearby St. Louis.

 

This portfolio is being offered at an attractive, stabilized cap rate of 10.38%. With the opportunity to further increase the bottom line with a blanket insurance policy, the buyer can decrease premiums to almost a third of the current amount. Current rent rates are approximately 13.3% below the current market rent rates in Belleville, creating room for a buyer to increase operating income.


Additional URLs

Map of 100527 . 34 Home SFR St. Louis MO & IL, St. Louis, MO, 62220

Presented by:
Thumb_c7f1e27309

Request additional information
Icon_pic


Icon_85f620cdae


Send a message
Share this Listing

Not Interested In This Property? TheBrokerList.com Can Help
Looking for an office, retail space, warehouse or anything else?
Contact a Licensed Member Today

What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.