Built in 1896 and located in McKinley Heights within walking distance to Lafayette Park, Fox Park and Soulard. Building is a three story four family that is 5,310 sq ft with two 3 bed units and two 1 bed units. The building needs rehab and the highest and best use is to convert to two townhomes. The two townhomes would each be 2,655 sq ft with 4 beds and 2 baths. Building is currently vacant. At $100 per SqFt (which is considerably lower than any of the comparable townhome sales) the after repair value would be $265,000 for each townhome with a total after repair value of $530,000. If kept as a 4 family after updating the 3 bed units would rent for approximately $1,100 and the 1 bed units for $625 for a total of $3,450 a month and $41,400 a year. Comparable Townhome Sales: 1829 Allen 3 Beds, 3 Baths, 2,007 SqFt $235,900 $117 Per SqFt. 2270 Jefferson 3 bed 3 bath 2,200 SqFt $244,900 $114 Per SqFt. 2042 Geyer 3 bed 3 bath 2,032 SqFt $251,000 $122 Per SqFt.
Listing courtesy of Invest St. Louis