MO > St Louis > John C Ivorys Sub
St Louis, MO 63111,225 W Steins ST
St Louis, MO 63111,225 W Steins ST
St Louis, MO 63111,225 W Steins ST
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$449,999
Est. payment /mo
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4,217 SqFt
Active Under Contract

225 W Steins ST St Louis, MO 63111

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Danielle Jordan

Danielle Jordan

+1(573) 308-5933

UPDATED:

Key Details

Property Type Multi-Family

Sub Type 5 Family or More

Listing Status Active Under Contract

Purchase Type For Sale

Square Footage 4,217 sqft

Price per Sqft $106

Subdivision John C Ivorys Sub

MLS Listing ID 25076014

Style Low/1-2

Year Built 1870

Annual Tax Amount $1,925

Lot Size 5,967 Sqft

Acres 0.137

Property Sub-Type 5 Family or More

Property Description

This renovated property features 6 truly, turn-key, 1 BR units that stay in demand & are easily rented. The property underwent a wholesale renovation roughly 15 years ago with updates to all major components (roof, plumbing, electrical, HVAC, windows, etc.). All units offer updated kitchens with dishwashers, spacious bathrooms with tub/ shower combo, central heating & cooling, and in-unit Washer/ Dryer). Plus, the building is all electric which is another big selling point for tenants. Over half the building is occupied by long-term tenants, some of which have been there 5+ years. There is off-street parking on a concrete pad in back. All tenants are on market rate leases and gross monthly revenues surpass $4,500 at 100% occupancy. At current financials (let's repeat that - at current financials - not some dream world), the cap rate is exceeding 8%. The building is located in the Historic, Carondelet neighborhood within walking distance to several desirable amenities: Upgraded YMCA Rec-Plex; Grocery & Retail Stores; Carondelet Park with lake, trails and playgrounds; Great Rivers Greenway trails; locally-owned restaurants like Stacked & Perennial Artisan Ales; and easy access to public transportation. This is a stable, cash-flowing investment that you'll want to add to your portfolio! 1 unit was built-out as ADA compliant. Seller is currently keeping 1 unit vacant for showings but it will likely fill quickly. Make your appointment to view soon! This property can be sold together as a package with MLS #s: 25076015 & 25065186

Location

State MO

County St Louis City

Area 3 - South City

Interior

Heating Electric, Forced Air

Cooling Central Air, Electric

Fireplace N

Appliance Electric Water Heater

Laundry In Unit

Exterior

Parking Features false

View Y/N No

Roof Type Shingle

Building

Story 2

Water Public

Level or Stories Two

Structure Type Brick

Schools

Elementary Schools Woerner Elem.

Middle Schools Lyon-Blow Middle

High Schools Roosevelt High

School District St. Louis City

Others

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Special Listing Condition Standard

Listed by Riahna Kastner • St. Louis Real Estate Society

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Danielle Jordan

Danielle Jordan

Broker/Salesperson

+1(573) 308-5933

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