Page Luxury Apartments

5437 Page Blvd Page Boulevard St. Louis, MO 63112

5437 Page Blvd Page Boulevard , St. Louis, MO, 63112
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FOR SALE
Property Type:
MultiFamily Apartments
Amount:
$1,400,000
Cap Rate:
8.00%
Last Verified:
Sep 13, 2024

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5437-5445 Page Blvd Apartments are four 3-story Brick Apartment Buildings. Each building boasts a 1,000 SF 3-bedroom Apartment on every floor. The property has undergone a recent 100% renovation, elevating it to a modern standard. These contemporary apartments feature spacious bedrooms with high ceilings (8 Ft +), ceiling lights, 6-panel doors, laminate flooring drywall, insulated windows with mini blinds, and sleek kitchens adorned with subway tile, electric range, hood, and refrigerator. The apartments are all electric and have a 200-amp service with a Homeline load center for all outlets, lights, and kitchen appliances inside each apartment. All HVACs and plumbing are also newer. Steel Stairs lead from the kitchens to the rear parking lot. Tenants pay Electric. Financials Monthly rents range from $850 to $1200, providing a solid foundation for a promising Proforma Net Operating Income of $116,520 with all units occupied. The break-even occupancy is a manageable 24.1%. However, the true potential of this property lies in its ability to generate more revenue. According to “RentoMeter.com,” the average rent for a similar-sized apartment in this neighborhood is $1,959 monthly, presenting a significant opportunity for increased revenue. Priced to sell at $116,667 /Key-$1,400,000.00, this property is a worthwhile investment. Portfolio Purchase Opportunity: This property and 4981 Rosalie Street can both be purchased for $2,250,000. Location: Experience the family-friendly environment of the Hamilton Heights Neighborhood. These apartments are nestled between Better Family Life and Bayer YMCA on Page Blvd, with Annie Malone Children & Family Service and Peace Villa Senior Living just a block away. These non-profit organizations, dedicated to community support and services, create an ideal neighborhood for families. The apartments are situated at the intersection of Semple Ave and Page Blvd, just two blocks west of Union Blvd, where you'll find the 'Save A Lot' store. Plus, the Metro Transit Bus Rt #94 Page runs past the property, offering public transportation to all parts of the City right at your doorstep.

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Map of 5437 Page Blvd Page Boulevard , St. Louis, MO, 63112

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.