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Stephanie Muhlenfeld

smuhlenfeld@gmail.com +1(314) 597-7494

$ 1,349,000

Est. payment | -/mo

816 SqFt

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$ 1,349,000

Est. payment | -/mo

Save

816 SqFt

Key Details

Property Type Multi-Family

Sub Type 5 Family or More

Listing Status Pending

Purchase Type For Sale

Square Footage 816 sqft

Price per Sqft $1,653

Subdivision Kinloch Park

MLS Listing ID 26041366

Style Ranch

Year Built 1953

Annual Tax Amount $942

Lot Size 10,201 Sqft

Acres 0.2342

Property Sub-Type 5 Family or More

Property Description

Rare opportunity to acquire a 12-home single-family rental portfolio offered as one package in the St. Louis market. Located throughout Spanish Lake, Ferguson, and Unincorporated North St. Louis County, the properties are positioned within close proximity for efficient management and maintenance. The portfolio features a desirable unit mix of all 3- and 4-bedroom homes, creating strong tenant demand from both Section 8 voucher holders and market-rate renters. Professionally managed and largely renovated/rent-ready, the portfolio offers a strong mix of in-place income with immediate lease-up upside. Current gross rental income is approximately $11,519/month, with four vacant homes fully rent-ready and actively being leased. Seller anticipates at least two additional homes leased prior to closing, increasing in-place income to approximately $14,100/month. Fully stabilized pro-forma gross rental income is projected at approximately $16,700/month, with estimated annual operating expenses of approximately $53,000 and projected stabilized NOI of approximately $147,000/year. At the $1,350,000 asking price, the portfolio offers a projected stabilized cap rate approaching 10.9%. An excellent opportunity for investors seeking immediate scale, efficient scattered-site operations, dependable rental demand, and value-add upside through lease-up of rent-ready homes.

Location

State MO

County St. Louis

Area 65 - Mccluer South

Interior

Heating Forced Air

Cooling Central Air

Fireplace N

Exterior

View Y/N No

Building

Structure Type Vinyl Siding

Schools

Elementary Schools Berkeley Elementary School

Middle Schools Berkeley Middle

High Schools Mccluer South-Berkeley High

School District Ferguson-Florissant R-Ii

Others

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Special Listing Condition Standard

Listed by Matt Guignon • Invest St. Louis

Schools and Properties Nearby

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+1(314) 597-7494

smuhlenfeld@gmail.com

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8433 1st ST Berkeley, MO 63134