Located in the desirable Lakeshire neighborhood of South Saint Louis County, this offering includes the sale of 16 2 Bedroom, 1 Bathroom apartments in 4 buildings. Each apartment is approximately 750 square feet, they have in-unit washers and dryers as well as a garage parking spot behind the building.

The property has benefited from approximately $970k of capital improvements throughout the complex including granite counter-tops in each of the units, stainless steel appliances, new drywall, flooring, light fixtures, new roofs on 2 buildings, new windows and much more.

Rents at Subject Property are approximately 20% below market for comparable properties with similar finishes in the sub-market. Also, the current owner took steps towards converting each of the units into condominiums to sell them individually. All of the units are separately metered and a plat has already been created for 2 of the 4 buildings. In order to finish the conversion, a new investor will need to file the engineering work for the other 2 buildings and create a condo association.

Please contact Broker for full Offering Package.

The subject property is located in the strong rental community of Lakeshire, MO within South St. Louis County. The property is situated near the front entrance to the community.