Single-Family Lot in Saint Louis, MO 63107

Descripiton

Land Redevelopment Potential with High Rental Yield

Property Details:

• Beds/Baths/Sqft: 4 beds  / 3 baths  / 2,440 sqft

• Purchase Price: $20,000  (+TC + CC)

• After Repair Value (ARV): $160,000

• Estimated Rehab Cost: Major fire damage, estimated $80,000 for rehab; recommend tear down and rebuild into a 4-plex

• COE (Close of Escrow): January 1, 2025

• Occupancy: Vacant, ready for redevelopment

Property Condition:

• Foundation/Roof/HVAC/Furnace/Water Heater/Electrical/Plumbing: Major fire damage; recommend tear down

Rental Income Potential:

• Long-Term Rental (LTR): Estimated at $850 - $900/month per unit (4 units)

• Mid-Term Rental (MTR): Not specified

• Short-Term Rental (STR): Not specified

Comparable Sales (Comps):

1. 3966 Greer Ave, Saint Louis, MO 63107- Sold for $160,000 on January 24, 2024; flipped property

2. 3207 Barrett St, Saint Louis, MO 63107 - Sold for $185,000 on April 24, 2024; larger sqft and an additional bedroom

Investment Highlights:

• Land Redevelopment Opportunity:Property has significant fire damage, ideal for a tear down and rebuild project into a 4-unit rental

• High ARV & Rental Potential: Estimated ARV of $160,000 with rental potential of $3,400 - $3,600/month for all units

• Vacant Lot: Ready for redevelopment

• Seller Flexibility: Seller is motivated and looking for a quick cash transaction

Why This Deal is a Great Opportunity: This property offers an excellent opportunity for investors looking to capitalize on land redevelopment in Saint Louis, MO. With an ARV of $160,000 and the potential to create a 4-plex, this deal presents a great chance for high rental income. Located in an area showing recent property flips and appreciation, it's an ideal project for investors looking for significant returns.

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