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3515 Magnolia

St Louis, MO 63118
  • $930,000
  • STATUS: Active Under Contract
  • ON SITE: 44 Days
  • ID#: 22078520
Under Contract
UPDATED: 80 min ago
$930,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 7,800
    SQFT
  • $119
    $/SQFT
Neighborhood:
Type:
Commercial
Built:
1966
County:
Area:

School Information

Elementary School:
Middle School:
High School:
School District:

Description

Salient Realty Group is pleased to present this opportunity to acquire 3515 Magnolia, a 12 unit apartment building located in heart of the highly desirable Tower Grove South neighborhood of St. Louis City. The building consists of 12, 1 bed / 1 bath units. Three of the twelve units have been renovated with updated flooring, kitchens and baths. The property has 12 off street parking spaces, a rare features for properties in the area. The average rent is currently well below market at $690 and similar units in the area are renting for $825 - $850, this presents a tremendous value add opportunity. Tower Grove East has one of the strongest rental markets in St. Louis City. The property is walkable to Tower Grove Park and the South Grand district which is home to many restaurants, bars, and shops.

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Listing information © 2023 Mid America Regional Information Systems, Inc. Information from third parties deemed reliable but not verified. Data last update 2023-02-03T16:39:35.797.

Henson & Brockmeier Team | RE/MAX Results: 314-435-9559
www.danahenson.com/homes/135513909
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3515 Magnolia St Louis, MO 63118

  • Price: $930,000
  • Status: Active Under Contract
  • On Site: 44 Days
  • Updated: 80 min ago
  • ID#: 22078520
0
Beds
0
Baths
0
½ Baths
N/A
Acres
7,800
SQFT
$119
$/SQFT
1966
Built
Neighborhood:
Tower Grove East
County:
St Louis City
Area:
South City
Elementary School:
Shenandoah Elem.
Middle School:
Elias Michael Elem.
High School:
Roosevelt High
School District:
St. Louis City
Property Description
Salient Realty Group is pleased to present this opportunity to acquire 3515 Magnolia, a 12 unit apartment building located in heart of the highly desirable Tower Grove South neighborhood of St. Louis City. The building consists of 12, 1 bed / 1 bath units. Three of the twelve units have been renovated with updated flooring, kitchens and baths. The property has 12 off street parking spaces, a rare features for properties in the area. The average rent is currently well below market at $690 and similar units in the area are renting for $825 - $850, this presents a tremendous value add opportunity. Tower Grove East has one of the strongest rental markets in St. Louis City. The property is walkable to Tower Grove Park and the South Grand district which is home to many restaurants, bars, and shops.
Exterior Features

Attached Garage YN No Lot Size Dimensions 54X170 Parking Features Parking Lot

Interior Features

Above Grade Finished Area Source Public Records Cooling Wall Unit(S) Heat Source Electric Heating Baseboard Heating YN Yes

Property Features

Association St. Louis Association Of Realtors Current Financing Cash OnlyConventional Disclosures UnknownSellers Discl. Avail Inclusions Building & Land Lease Term Month To Month Net Operating Income 71076 Possession Close Of Escrow Property Sub Type Multi-Family 5+ Property Sub Type Additional Apartment Complex Sewer Public Sewer Special Listing Conditions None Tax Annual Amount 6640 Tax Year 2022 Tenant Pays Electricity Transaction Type Sale Water Source Public

Listing provided courtesy of Salient Realty Group, Llc: 3743687. Listing information © 2023 Mid America Regional Information Systems, Inc.
Listing information © 2023 Mid America Regional Information Systems, Inc. Information from third parties deemed reliable but not verified. Data last update 2023-02-03T16:39:35.797.

Henson & Brockmeier Team | RE/MAX Results: 314-435-9559
 
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Henson & Brockmeier Team | RE/MAX Results
4850 Lemay Ferry Rd
St. Louis MO, 63129