This fantastic large brick built two apartment multi family home is located in The Ville, Saint Louis, opposite Sumner High School. The property is divided into two large apartments, you have a large two bedroom apartment upstairs and a large two bedroom apartment downstairs. The property is just undergoing a complete refurbishment and the management company will place brand new tenants when the new owner closes on the property. The tenants will be Section 8 housing so the rent will be paid direct to the landlord via the US Government, the rent will be approximately $1,200 – $1,400 per month.. This property is located in The Ville which is only 5.3 miles to the centre of downtown Saint Louis.This property is also only 10 minutes to the Fairground park which opened in 1908 .The park has a huge history and is very well kept and spans 131.46 acres. Local residents enjoy the park for fishing, skating on the roller rink, festivals, picnicking under trees, playing tennis or just enjoying the walks with many beautiful lakes. Investment Calculation Purchase price: 68,900 Gross annual rental income: $16,800 Property running costs: $2,770 (Tax, insurance and management costs) Net annual rental income: $14,030 Investment calculation - Net Income divided by Purchase price = NET ROI. Return on investment: 21% Break even in 4.76 Years This property is a Townhouse for sale.
Other Details: Number of Bedrooms: 4, Number of Bathrooms: 2