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3922 Minnesota Ave, St Louis
$149,900
26062873 MLS ⋅ ACTIVE Status
3922 Minnesota Avenue is a classic brick two-family property located in South St. Louis City. The property is convenient to public transportation, neighborhood restaurants and shopping. Residents also have convenient access to Tower Grove Park, Saint Louis University, major medical and employment centers and downtown St. Louis. Built in approximately 1912, the property contains approximately 2,396 square feet across two spacious residences, at an attractive $66 per sq ft. The apartments feature large rooms, high ceilings, generous kitchens and the character associated with historic South City construction. There is the potential to easily convert the units by adding a wall and closet to one of the living rooms. The building also provides a full shared basement and rear yard. These features create a strong foundation for targeted cosmetic improvements without requiring a complete reconfiguration of the existing floor plans. One unit is currently occupied at $875 per month, while the vacant unit has recently been marketed between approximately $875 and $925. At $875 per unit, the property would generate approximately $1,750 in monthly scheduled rent when fully occupied. Comparable two-bedroom rentals in the surrounding market are generally advertised from approximately $950 to $1,100, with higher rents possible for more extensively updated residences. Improvements to kitchens, bathrooms, flooring and finishes provide a direct path to higher rental income and a more competitive position within the 63118 rental market. There is potential equity and upside with the building, a nearby property at 3617 Minnesota sold for $300,000 following a renovation, establishing the upper end of the market for a finished product. This spread gives a buyer a clear value-add strategy: create additional bedrooms if desired, raise rents either as is or with additional updates to the units, and create additional equity and income.

3922 Minnesota Ave, St Louis
3507 Pennsylvania Ave, St Louis
$154,000
4 Beds ⋅ 2 Baths ⋅ 26054306 MLS ⋅ ACTIVE Status
Income generating property. This Duplex has been updated with new decks, yard has been cleaned up, two market tenants placed. Property sold as is.

3507 Pennsylvania Ave, St Louis
3401 Chippewa St, St Louis
$495,000
26032559 MLS ⋅ ACTIVE Status
Immediate stream of income. Beautiful mixed-use property. 5 residential units and 1 commercial space. Commercial space is a daycare on a lease paying $1250 per month. The 5 residential units bring in another $3,395 per month. There is 1 large efficiency unit, 1 one bedroom lofted unit, top 2 floors is a massive 2 bedroom townhome (a must see) and 2 two-bedroom townhouse units. Great back-yard courtyard with brick and landscaping. There are 5 parking spaces off street and plenty on on-street parking. Every square foot has central air and forced air heat. All units have w/d hook-up and some have fireplaces. All units occupied with long term, responsible tenants long term tenants.3 Tenants are Section 8. Do not let this property pass you up. This is not a typical building in the area. Shows well. Do not disturb tenants.

3401 Chippewa St, St Louis

Listings courtesy of Mid America Regional Information Systems Internet Data Exchange as distributed by MLS GRID.


Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker of MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some listings have been excluded from this website.


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