12 plex brick building in St Louis, MO

5622 W Florissant Ave, St. Louis, MO 63120

Built in 1964

7800sf

9- 1 bedroom, 1 bathroom and 3 efficiency units

Has parking lot in rear off alley for several vehicles and on street parking for the rest. 

Plumbed for two sets of washer and dryers in common area for extra income. 

Building is in the middle of a top to bottom complete rehab that started earlier this year. Permits in place. All water and waste lines have be completely replaced. All electrical wiring is in the process of being replaced. Each unit will be individually metered for power. No gas to building. Owner pays house power, water, trash and lawn care. 

Great property management in place at 8%. PM says rents will be $700-800 per unit for a conservative $8400 gross monthly rent. Building is currently vacant until construction is completed. 

What has already been completed:

- All new dual pane windows throughout 

- Egress security bars on all basement windows

- New underground waste system 

- New plumbing stacks and water lines throughout entire building

- New handrails on all stairs

- New commercial steel entry doors to building

- New entry doors to all units

- New acrylic tub surrounds

- Drywall in two units

- New chain link fence for back yard

- New LVP flooring in most units

What needs to be finished:

- finish electrical to 7 units

- Drywall, tape, texture

- Interior paint

- Finish flooring

- Setting cabinets and counters

- Sinks and faucets

- New roof, fascia cap, and gutter system 50% deposit was already paid. 

Inventory of already purchased material:

- Appliances 

- 75% of kitchen cabinets 

- Countertops 

- (3) 55 water heaters 

- (12) Garbage disposals

- Kitchen faucets

- Vanities

- (8) window units

- (17) baseboard heaters

- Misc electrical, wire, boxes and switches

Finish rehab cost $120k-$130k

Purchase Price: $325,000 obo

ONE COMP SOLD DOWN THE STREET FOR 800K

5772 W FLORISSANT, ST. LOUIS, MO 63120

🔥Contact me today at 586-556-1365 to set up a walk through and to submit your highest and best offer🔥

BUYERS ARE REQUESTED TO DO THEIR OWN DILIGENCE ON THIS PROPERTY. YOU MUST VERIFY ALL INFORMATION PROVIDED INDEPENDENTLY.

● Buyer pays all closing costs

● Get in touch with us now!

NOTE: YOU ARE STRICTLY PROHIBITED FROM CONTACTING ANY SELLER.

Make an Offer: Submit your offer and information at the top of this screen by clicking "Make an Offer".

Contract: A contract will be delivered electronically once an agreement has been made and must be executed by Final Buyer within 24 hours. Once the contract is signed, we will introduce you to our third party Title Company we use who will help facilitate the closing process.

Earnest Money Deposit (EMD) must be wired to the Title Company within 1 day of Contract signing.

Closing Costs: End Buyer will pay all closing costs and will be outlined on the final settlement statement of the deal. 

💪 YOU CAN CLICK THE 🙌 WIN IT NOW BUTTON AND AVOID ALL THE BIDDING (WHICH WILL HAPPEN ON THIS DEAL) AND 🔐 LOCK IT DOWN RIGHT NOW 💥

DISCLAIMER: This is an Assignment of Contract. A legally binding purchasing contract with memorandum has been signed with the Seller giving this company exclusive rights to purchase the property. This company does not represent the owner. We are NOT Brokers and do not represent ourselves as such. DO NOT CONTACT THE OWNER/SELLER without our explicit consent. Any attempts to renegotiate or make contact with the owner will result in legal action.