738 Kingsland Avenue, University City, MO 63130
Subdivision: Delmar Garden
List Price: $709,000
(Original Price: $795,000)
0
BedroomsN/A
Baths4,212
Area (sq.ft)$168
Cost/sq.ftN/A
Type191
Days on MarketDescription
Fantastic Opportunity to own a large 3-unit investment property in the heart of the booming Delmar Loop. Ideally situated right next to Washington University, this attractively located property offers many amenities that will keep it high-performing for decades to come. Large 3-bedroom units feature many updates, with completely new plumbing to kitchens and baths, hardwood floors throughout, and renovated kitchens with stainless appliances. Central AC & Forced Air heat, roof in great shape redone in the past few years, impeccable brickwork. Off street parking pad in the rear, metal fire escape in great shape. Clean basement with storage lockers for all units, updated electrical panels. A motivated owner will thrive leasing these 3-bedroom units at a quite achievable $2250 market rate as-is. Wash U charges $1700+ *per person* monthly for tiny dorms -- students flock to the Delmar Loop for all the shops, restaurants, bars and more that it has to offer! With further simple upgrades like in-unit laundry or furnishing the apartment for students, the sky's the limit: others on this block have achieved $3,200/mo+ rents for 3-bedroom units with laundry, furnishings, etc.. Offered at Pro Forma 7.81 Cap rate at market rents, call today
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Listing Courtesy of Evan Kuhn, Broker - [email protected]
