8700 Crocus, St Louis, 63114

Multi-Family 5+ - Apartment Complex For Sale in Crocus Court

$3,100,000

Beds
Baths
39,600Sqft
1.81Acres
1959Built
33DOM
MLS® #: 19040346
Pending, 33 Days on Market

56 Unit apt complex located across the street from Home Heights Park and minutes from downtown Clayton and the airport. Comprised of 10 brick buildings with pitched roofs & plenty of parking for the tenants. 24 two bed & 32 one bed apts. Rents have been, and can be, increased to as much as $550 for the 1 beds & $650 for the 2 beds. Building is currently grossing $381k/yr with a net income of $252k; an 8.1% cap rate. With 1 bed rents at $550 & $650 for 2 bed across the board, the gross rent would be nearly $400k/yr. There have been updates to many of the units including updated kitchen cabinets, flooring, double pane windows, etc. Other recent capital improvements include emergency fire escapes, welding, and pvc plumbing stack replacement. There is an on site management company in place which is currently charging a 4% management fee that would be open to continuing to manage the property. Current vacancy is under 2% and there have been long waiting lists for tenants wanting to move in.

Price & Status History

Date Details
Status Changed from Active Under Contract to Pending
Status Changed from Active to Active Under Contract

Essential Information

MLS® #: 19040346
Price: $3,100,000
Square Footage: 39,600
Acres: 1.81
Year Built: 1959
Type: Multi-Family 5+
Sub-Type: Apartment Complex
Style: Low/1-2
Status: Pending

Community Information

Address: 8700 Crocus
Area: Ritenour
Subdivision: Crocus Court
City: St Louis
County: St Louis
State: MO
Zip Code: 63114

Amenities

Parking: Parking Lot

Interior

Heating: Forced Air, Baseboard, Individual Furnaces
Cooling: Central-Electric, Wall Unit(s), Window Unit(s)

Exterior

Lot Description: 191'x305'x327'x335'
Construction: Brick/Stone Msn Pred

School Information

District: Ritenour
Elementary: Marvin Elem.
Middle: Ritenour Middle
High: Ritenour Sr. High

Additional Information

Date Listed: May 31st, 2019
Days on Market: 33
HOA Fees Freq.: None

Listing Details

Listing Office: Invest St. Louis

Financials

$/SqFt: $78

Information from Third Parties, Deemed Reliable but Not Verified.
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