Multifamily property for sale in Festus, MO 2,850,000 USD
Here is your chance at a great opportunity to acquire 56 very well maintained apartments in 12 buildings on 3.44 acres. Great cash flow & low expenses. 52 of 56 updated. $400,000. of Capital Improvements since 2007. High occupancy rate. Seller has increased income by 25% since 2007 & there is still room to increase. All units are 2 bedroom, 4 are townhouses with 1 & 1/2 bath. Rents range from $515. to $620. Updates since 2007 include 5 new roofs, resurfaced parking lot, landscaping, all decks rebuilt, about half of units new heating & cooling system. Some new kitchen cabinets, white 6 panel doors, trim, lighting, most new carpet & ceramic tile & many new appliances. Hundreds of window glass replaced from broken seals. All but 8 units have washer/dryer hookups in units. Seller is a Real Estate Agent.
Brokered And Advertised By: Coldwell Banker Gundaker
Listing Agent: Ed Mattingly
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