$659,900
Back on market no fault of seller. Buyer failed to perform (repeatedly)
8 Unit Package in 2 separate 4 family buildings, being sold at a 9.8% cap rate. 100% turnkey and generating a NOI of $64k, these buildings have a little something for anyone seeking cashflow! Two 2 bd Units, Six 1 bd units, one of which is furnished. A two car garage and a 2 car parking pad are included behind the spacious fenced yards. Stable tenancy is longer term and mostly are at market rates (one exceptionlong term tenant is a little low). Tenants have been thoroughly vetted and pay electronically and on time. Five Units have Electronic door locks which minimize key management concerns. Tons of updates 2016-2020 include moderately to nicely updated kitchens and baths, new sewers, one new roof, and a new city water line (4735-4737). Forced Air and Central AC in all units, 3 new furnaces 2024-2025. 4735-37 are nearly identical in finishes with new shaker cabinetry, countertops, tile, flooring, stainless steel appliances. 4731-33 are all updated, more modestly but with full kitchens and 4 peice appliance sets, 2 units have clawfoot tubs (2FL) and 2 have tub/shower combos. Photos for all units linked the downloadable supporting docs. Seller has completed full inspections on both buildings and the units and they are provided in the supplements along with financials, receipts for major work also provided.
Agent has a relationship with ownership, and they are ready to buy thier next building! Two Parcels, Seller prefers to sell as a package We have connections to DSCR lenders offering 6.5% interest rates on 25 year amortization, as well we can consider conventional loans so long as the income method of appraisal will be utilized.
Seller will not finance, or accept any sort of “creative” offer. Must relinquish property entirely, using 1031 exchange. Please download the OM for details and deeper financial information, additional pictures and video. All must be reviewed and acknowledged in any offer. Buyers will be responsible to convert electronic door locks, and utilities for furnished unit to their own accounts after closing.
Video tour available is of the furnished unit. Some furnishings may have changed slightly. Check OM for link to receipts, inspections, photos of each unit, leases, occupancy certificates and more.INSPECTIONS HAVE BEEN PROVIDED by Seller 10/2025 and are linked in the OM. No Showings without accepted contract.
25057610
MLS
⋅
ACTIVE
Status
4731-4737 Alaska, St Louis