This four bedroom multi unit is amazing value at $109,900..
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Property DescriptionID:41700464
This fantastic large two apartment multi family home is located in Hamilton Heights and is less than 3 miles from Washington University St Louis. The property is divided into two large two bedroom duplex apartments sitting side by side. Both apartments have just been refurbished and made rental ready to a Section 8 standard. The house has 2 Section 8 tenants pending to move in shortly each paying $800 – $850 in rent each month. The property is located in Hamilton Heights which is only 7 miles from Downtown Saint Louis. The Hamilton Heights neighbourhood in St. Louis is undergoing a much needed transformation as part of a new Blight Elimination project.. Hamilton Heights sits right next door to West End where similar projects have now rejuvenated the area with luxury properties now in abundance. This is a good area for speculated capital appreciation especially for large brick built multi family homes which are in short supply for Section 8 housing.
Investment Calculations
Purchase price
$109,900
Gross annual rental income:
$20,400
Property running costs:(Tax, insurance and management costs)
$10,104
Net annual rental income:
$10,296
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return of investment
28%
Break even in
3.57 Years.
This four bedroom multi unit is amazing value at $109,900..