Language and Region
Currency

This feature is unavailable at the moment.

We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.

Please check back in a few minutes. We apologize for the inconvenience.

- LoopNet Team

You must register your contact information to view secure information on this listing.

Email*

Please enter a valid email address.

Note: To send this property to multiple individuals, insert a semi-colon between each recipient's email address.

Send me a copy

958 characters remaining

LoopNet has taken a strong stance against the practice of sending unsolicited commercial emails, also known as "spam." Please send these emails only to people you know who would be interested in this property. If someone asks you not to send these emails to them, please comply.

thank you

Your email has been sent!

7425-7429 S Broadway

11 Unit Apartment Building $420,000 ($38,182/Unit) 11.34% Cap Rate Saint Louis, MO 63111

.mosaic-column{display:inline-block!important;height:100%!important;width:auto!important}.mosaic-tile i{display:none!important}.mosaic-tile img{height:100%!important;width:auto!important}

Investment Highlights

Mixed use: 3 commercial units (currently leased to a church), 8 residential units -6 studios and 2 1-bed units
Nearby are restaurants like Stacked STL, grocery, independent businesses like Perennial Artisan Ales microbrewery, plus parks, River City Casino

Some off-street parking, plenty of on-street parking
Using pro forma $650 for vacant units, current income is 85,380 - operating expenses of 37,735, NOI is 47,645 – a 11.34% cap rate at asking price

Executive Summary

Established in 1757, the French settlement of Carondelet has a rich and impressive history and overlooks the Mississippi River. This 2-bldg. package features 8 apartments and 2 commercial units. The latter is leased to a long-term tenant (a church) and features a large open area with a smaller warehouse in the rear w/garage door opening into the parking lot. Apartments are mix of 6 studios and 2 1-bed units. Window AC & boiler heat included w/rent. Gas water heaters, PVC stacks. Parking in rear & on-street Roofs/gutters new '16. 7425 S. Broadway: 1-story, built in 1936, 2,774 sf. 7427-29 S. Broadway: 3-stories, built in 1896, 11,473 sf. 14,247 sf total. Nearby are restaurants like Stacked STL, a grocery store, independent businesses like Perennial Artisan Ales microbrewery, plus parks, River City Casino, and I-55. Using a pro forma $650 for the vacant units, current income is 85,380 - operating expenses of 37,735, NOI is 47,645 – an 11.34% cap rate at asking price.

Financial Summary (Actual - 2023) Click Here to Access	Annual	Annual Per SF
Gross Rental Income	$99,999	$9.99
Other Income	-	-
Vacancy Loss	-	-
Effective Gross Income	$99,999	$9.99
Taxes	-	-
Operating Expenses	-	-
Total Expenses	$99,999	$9.99
Net Operating Income	$99,999	$9.99

Financial Summary (Actual - 2023) Click Here to Access

Gross Rental Income
Annual	$99,999
Annual Per SF	$9.99

Other Income
Annual	-
Annual Per SF	-

Vacancy Loss
Annual	-
Annual Per SF	-

Effective Gross Income
Annual	$99,999
Annual Per SF	$9.99

Taxes
Annual	-
Annual Per SF	-

Operating Expenses
Annual	-
Annual Per SF	-

Total Expenses
Annual	$99,999
Annual Per SF	$9.99

Net Operating Income
Annual	$99,999
Annual Per SF	$9.99

Property Facts

Price	$420,000	Apartment Style	Low Rise
Price Per Unit	$38,182	Building Class	C
Sale Type	Investment	Lot Size	0.13 AC
Cap Rate	11.34%	Building Size	14,247 SF
Sale Conditions	1031 Exchange	No. Stories	3
No. Units	11	Year Built	1896
Property Type	Multifamily	Parking Ratio	0.28/1,000 SF
Property Subtype	Apartment General Retail Storefront Retail/Residential	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

Price	$420,000
Price Per Unit	$38,182
Sale Type	Investment
Cap Rate	11.34%
Sale Conditions	1031 Exchange
No. Units	11
Property Type	Multifamily
Property Subtype	Apartment General Retail Storefront Retail/Residential
Apartment Style	Low Rise
Building Class	C
Lot Size	0.13 AC
Building Size	14,247 SF
No. Stories	3
Year Built	1896
Parking Ratio	0.28/1,000 SF
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.