50 Unit Apartment Package · • New kitchen cabinets and flooring • New stoves and fridges in all units • Microwaves added in majority of unit (18 of 24) • New electric water

Information contained herein has been obtained from the owner of the property or other sources. The Brokers do not guarentee the accuracy of this information.Sellers and Brokers make no representation as to the environmental or other conditions of the property and recommend that Purchaser(s) investigate fully.

• Architecture from 1927

• 38 (2 Bedroom) & 12 (1 Bedroom)

• Major Rehab on Bamberger in 2016

• Great Opportunity to Acquire a Turn Key Investment Property of 50 Units with Great Cash Flow

• Majority of Units are 2 Bedroom

50 Unit Apartment PackageKeokuk Street & Bamberger Avenue

Offered at:$2,300,000

Ken WedbergDirect: 314.446.7540

Cell: [email protected]

For more information contact:

REALTYEXCHANGE®

2203 South Big Bend Blvd. Suite 100, St. Louis, MO • 314-647-2220 • 1-800-592-4502 • www.realtyexchangeweb.com

THE PROPERTY

Property Description

The offering includes the sale of 3 properties located at the corner of Keokuk Street & Bamberger Avenue in the Dutchtown Neighborhood.

A total of 50 Units, 38 (2 bedroom) and 12 (1 bedroom) units. The buildings were constructed between 1927-1929 with Bamberger going through a recent renovation in 2016. All properties have some off street parking in the rear of the properties. The 2 unit duplex was purchased for future parking expansion if ever needed, and there is also on street parking around both of the buildings.

The area contains incredible architecture from the 1920s with nearby parks for the residents to enjoy. Public transportation is within walking distance on both Chippewa Street & South Grand, as well as the many restaurants located on South Grand.

Keokuk Street: 24 Units2 Buildings(12) 2 Bedroom $600(12) 1 Bedroom $500

Bamberger Avenue: 24 UnitsRenovated in 2016(24) 2 BedroomTotal of 4 Floor PlansRents range from $625-$765

Keokuk Street: 2 Units(2) 2 Bedroom $715


Offered at:$2,300,000

Ken WedbergDirect: 314.446.7540

Cell: [email protected]


REALTYEXCHANGE®


THE PROPERTY

3858-3864 Bamberger Avenue2016 Updates• All new thermal windows and aluminum wrapping• All new forced air furnaces, duct work, ac condensers

(on roof)- all electric units• Plumbing for 21 of 24 units (3864 1E, 2E, 3E, not done –

occupied during reno)• New separate electric water heaters• New stacks and hot and cold supply lines• New faucets and shower valves• New bathroom vanities and toilets

• New kitchen cabinets and flooring• New stoves and fridges in all units• Microwaves added in majority of unit (18 of 24)• New electric water heaters and electric connections run

for laundry rooms• Hoppy’s has contract on coin laundry• Security gates added to fire escapes• Tuckpointing completed

Features• All electric units (heat, cool, hot water, stove)• 100 amp elec service for each unit• Separate hot water for each tenant (only public hot water for laundry)• All 2-bdrm units• Hardwood floors


REALTYEXCHANGE®


THE PROPERTY

3801- 3811 Keokuk StreetFeatures• All thermal windows and aluminum wrapping• All forced air heat and cool• Rubber roof from ~2008

2011 Updates• All new electrical service for 3801-3805 Keokuk (meters and panels)• 8 Units All-Electric: New furnaces and a/c in 3803 & 3805• Updated interiors in majority of units

2016 Updates3811 #10 & #12: Complete interior renovation after apartment fire (no structural damage)

3763 Keokuk Street - 2 Family• Separate HVAC and water heaters for each unit• Only common utility is sewer/water/trash (no public lighting or shared hot water)


REALTYEXCHANGE®


THE PROPERTY

Rent Roll • 50 Units

3858 Bamberger, St Louis, MO 63116Unit Rent Deposit3858 1E $750 $750

3858 1W $750 $-

3858 2E $645 $405

3858 2W $695 $695

3858 3E $695 $1,738

3858 3W $725 $725

3860 1N $765 $765

3860 1S $695 $695

3860 2N $795 $-

3860 2S $695 $695

3860 3N $745 $-

3860 3S $695 $695

3862 1N $695 $695

3862 1S $765 $765

3862 2N $695 $695

3862 2S $745 $745

3862 3N $695 $-

3864 3S $725 $725

3864 1E $580 $100

3864 1W $725 $725

3864 2E $570 $495

3864 2W $625 $580

3864 3E $750 $-

3864 3W $725 $725

3801-11 Keokuk, St. Louis, MO 63116Unit Rent Deposit3801-1 $435 $-

3801-2 $490 $490

3801-3 $490 $-

3801-4 $490 $490

3803-5 $485 $728

3803-6 $550 $-

3803-7 $480 $480

3803-8 $500 $250

3805-9 $600 $1,200

3805-10 $550 $550

3805-11 $560 $250

3805-12 $600 $600 3807-1 $525 $525

3807-2 $550 $550

3807-3 $500 $750

3807-4 $625 $625

3809-5 $480 $-

3809-6 $400 $-

3809-7 $500 $460

3809-8 $470 $705

3811-9 $450 $-

3811-10 $550 $825

3811-11 $470 $490

3811-12 $525 $525

3763 Keokuk, St. Louis, MO 63116Unit Rent Deposit3763 $715 $-

3765 $715 $-

Totals38 2-BR Units $30,650 $23,905

12 1-BR Units

Keokuk Street & Bamberger Avenue

Ken WedbergDirect: 314.446.7540Cell: [email protected]


Average $706 Average $511

Average $715

REALTYEXCHANGE®


THE PROPERTY

Total# of Units 50Income $310,925 Expenses Landscaping $3,020

Pest $1,680

Insurance $13,983 Management $32,918 Repairs $35,284 Taxes $13,067 Electric $6,816

Gas $4,448

Sewer $13,244 Water $7,736

Trash $4,000

Professional $700

Total Expenses $136,896 Net Income $174,029

Income/ExpensesSep 16 - Aug 17

Keokuk / Bamberger

# of Units 50Income $367,800 8% Vacancy -$29,424 Adj Gross $338,376

ExpensesLandscaping $3,020

Pest $1,680

Insurance $13,983 Management $27,070 Repairs $35,284 Taxes $13,067 Electric $6,816

Gas $4,448

Sewer $13,244 Water $7,736

Trash $4,000

Professional $700

Total Expenses $131,048 Net Income $207,328

Pro Forma on Current Rent Roll

Income & Expenses • 50 Units

Keokuk Street & Bamberger Avenue

REALTYEXCHANGE®


THE PROPERTY

Documents

50 Unit Apartment Package · • New kitchen cabinets and flooring • New stoves and fridges in all units • Microwaves added in majority of unit (18 of 24) • New electric water