This fantastic large brick built two apartment multi family home is located in Jeff Vander Lou, Saint Louis. 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 has just been updated and made rental ready. One apartment has a tenant in place already that pays $500 in rent each month. The management company will place a brand new tenant in the second apartment when the new owner closes on the property paying $650 in rent each month.
Property Details
• Four bedrooms.
• Two Bathrooms.
• 2,260 sqft built.
• 4,759 soft lot.
• Fully managed.
• Tenanted.
• Local staff.
• Garden.
Investment Calculation
Purchase price: 61,900
Gross annual rental income: $13,800
Property running costs: $2,320
(Tax, insurance and management costs)
Net annual rental income: $11,480
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 19%
Break even in 5.26 Years