1916 Menard ST new Save Request In-Person Tour Request Virtual Tour
St Louis,MO 63104
Key Details
Property Type Multi-Family
Sub Type 5 Family or More
Listing Status Active
Purchase Type For Sale
Square Footage 10,080 sqft
Price per Sqft $104
Subdivision Allnes/Russell
MLS Listing ID 25040325
Year Built 1896
Property Sub-Type 5 Family or More
Property Description
1916-1922 Menard is an 8unit multifamily property in the heart of Soulard, 1 block from the 2nd biggest Mardi Gras parade in the United States. This building features four 2bed/1.5bath units and four 1bed/1bath units. The 2beds are huge units, over 1000sqft of living space and are 2 levels. There is a gated backyard (rare for Soulard). All the windows on the backside of the building have been replaced, a lot of the deck has been replaced and the building has had recent tuck-point work done. As of July 1, this property will be 100% leased and bringing in $9,060/month ($108,720 annually). The expenses come out to about $2,432/month ($29,186 annually) which makes the NOI $74,097 if you account for 5% vacancy. This property is priced at a 7.06% cap rate and still has room to raise rents. The next door restaurant; Dukes, has a shuttle that takes people to and from every Cardinals, Blues, STL FC game and every downtown concert- for free! Walk to dozens of other bars, restaurants or coffee shops + enjoy constant neighborhood events such as Octoberfest. Anheuser-Busch, one of St Louis largest employers being located in Soulard. Many Saint Louis University and A.T. Still University (dental) students choose to live in Soulard. See Rent Roll in the Offering Memorandum. The common areas can be viewed anytime and 1 unit can be toured with proof of funds provided (building is currently fully occupied).
Location
State MO
County St Louis City
Area 2 - Central East
Interior
Heating Forced Air,Natural Gas
Cooling Central Air,Electric
Laundry Common Area
Exterior
Parking Features false
Building
Water Public
Structure Type Brick
Schools
Elementary Schools Sigel Elem. Comm. Ed. Center
Middle Schools Long Middle Community Ed. Center
High Schools Roosevelt High
School District St. Louis City
Others
Acceptable Financing 1031 Exchange,Cash,Contract,Conventional
Listing Terms 1031 Exchange,Cash,Contract,Conventional
Special Listing Condition Standard