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Kim Banovz

kim@cisler.com +1(618) 670-1910

$ 1,645,000

Est. payment -/mo

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Active

3900 Ray AVE St Louis, MO 63116

18,774 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Sub Type 5 Family or More

Listing Status Active

Purchase Type For Sale

Square Footage 18,774 sqft

Price per Sqft $87

Subdivision Grand Gravois Park

MLS Listing ID 25076055

Style Historic,Low/1-2

Year Built 1929

Annual Tax Amount $12,054

Lot Size 0.408 Acres

Acres 0.408

Property Sub-Type 5 Family or More

Property Description

If you've been trying to find a GOOD INVESTMENT opportunity, you'll want to take a closer look at 3900 Ray. With its mix of one, two, and three bedroom apts. (28 units total), along with its on target pricing, the property offers a new owner a realistic chance at earning a decent return. The reasonable rent rates, off-street parking, centralized location, and unit amenities translate into a LOW VACANCY rate year after year. When vacancies do come up, the units are easy to fill even in the slower months. Plus, the property underwent a massive renovation with major updates to the plumbing, electrical, HVAC (central heating & cooling), and windows throughout. MODERN SYSTEMS offer peace of mind for everyone: less maintenance calls for owners and lower utilities bills for tenants. It's been really hard to find a good deal like this one in the current real estate market. Current rent roll at appx $18,745 a month, with a cap rate above 8%, with reasonable proforma numbers appraching 9.8%. Don't miss your opportunity!

Location

State MO

County St Louis City

Area 3 - South City

Rooms

Basement Full, Interior Entry, Unfinished, Walk-Out Access

Interior

Heating Forced Air, Natural Gas

Cooling Central Air, Electric

Fireplace N

Laundry None

Exterior

Parking Features false

Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected

View Y/N No

Private Pool false

Building

Water Public

Structure Type Brick

Schools

Elementary Schools Oak Hill Elem.

Middle Schools Long Middle Community Ed. Center

High Schools Roosevelt High

School District St. Louis City

Others

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Special Listing Condition Standard

Listed by Riahna Kastner • St. Louis Real Estate Society

Kim Banovz

Broker | License ID: 475.209182

+1(618) 670-1910

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