Listed By The Agency, Anthony M Klier
763 CHAMBERLAIN PL St Louis, MO 63119
$4,730,000
—
Bedrooms
—
Total Baths
—
Full Baths
—
Square Feet
1.71
Acres
1960
Year Built
Active
Status
MLS#
24019919
Fully renovated 38 unit apartment building in Webster Groves, 100% occupied with 20 units already leased at proforma rents. Currently the property is bringing in $41,618/month. The 1beds are leasing for $1075/month to $1210/month. The 2beds are leasing for $1350/month to $1425/month. EVERY APARTMENT has IN UNIT LAUNDRY, stainless steel appliances, white shaker cabinets, granite counters, tiled bathrooms and are a great size- extremely easy to lease. 36 GARAGE PARKING spaces + over a dozen off street parking spaces. The property has a pool in the center of the gated courtyard. If you annualize the current rent roll, factor in 5% vacancy and use the 2023 expenses- you arrive at a CAP RATE OF 7.83%. Once you bring all the units to proforma rents, you will be over a 9% cap rate. An in-place cap rate of a building this nice in Webster Groves is truly unheard of. This is extremely popular for Webster University students as they can walk to class. Ask for T12, rent roll and appraisal.
Details for 763 CHAMBERLAIN PL
*The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.
Price per square foot and days on website are not provided values and are calculated by RE/MAX.
Listing Office The Agency, 6771477
MLS# 24019919
Updated 11:39AM - 5/1/2024
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