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Chad Wilkins

wilkdog1@gmail.com +1(618) 214-0953

$ 1,050,000

Est. payment -/mo

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1916 Menard ST St Louis, MO 63104

10,080 SqFt

UPDATED:

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

Acres 0.1033

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

Fireplace N

Appliance Gas Water Heater

Laundry Common Area

Exterior

Parking Features false

Building

Water Public

Architectural Style Mid-Rise 3or4 Story

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

Listed by The Agency

Chad Wilkins

Broker | License ID: 475.200049

+1(618) 214-0953

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