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Keagan Marten

Cisler & Assoc. Real Estate

keagan@cisler.com +1(217) 710-7047

$ 450,000

Est. payment -/mo

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Active Under Contract

7300 & 7304 Pennsylvania AVE St Louis, MO 63111

6,216 SqFt

UPDATED:

01/03/2025 10:46 PM

Key Details

Property Type Multi-Family

Sub Type Multi-Family 5+

Listing Status Active Under Contract

Purchase Type For Sale

Square Footage 6,216 sqft

Price per Sqft $72

Subdivision Eilers Sub

MLS Listing ID 24075297

Construction Status 98

Year Built 1927

Building Age 98

Lot Size 7,275 Sqft

Acres 0.167

Lot Dimensions 72x98

Property Description

The French settlement of Carondelet (est. 1757) enjoys a rich history and overlooks the Mississippi River. In the heart of it all is this 6,216 sf brick building with six 1/1 units and two 2/1 units. One was a storefront so the layout is different. Sellers rehabbed 3 units, partially rehabbed 3 more, and installed 4 new window units, water heater, stove, & fridge. You'll find pex water lines, some PVC stacks, copper & romex wiring, gas furnaces, gas & electric water heaters, and some updated windows. One unit is vacant for showing; one is vacant and needs rehab due to a problem tenant. This is a value-add opportunity with some heavy lifting already done. Tenants enjoy living minutes from Carondelet Park, restaurants like Stacked STL, Perennial Artisan Ales, River City Casino, and I-55. Using a pro forma $750 for vacancies, annual income is 66,000 - operating expenses of 30,134 = NOI of 35,866, a 7.9% cap rate at asking price. Ask your agent for financials available in the listing.

Location

State MO

County St Louis City

Area South City

Interior

Heating Forced Air

Cooling Window Unit(s)

Fireplace N

Building

Sewer Public Sewer

Water Public

Structure Type Brick

Construction Status 98

Schools

Elementary Schools Woerner Elem.

Middle Schools Lyon-Blow Middle

High Schools Roosevelt High

School District St. Louis City

Others

Ownership Private

Acceptable Financing Cash Only, Conventional, Exchange, Private

Listing Terms Cash Only, Conventional, Exchange, Private

Special Listing Condition None

Listed by Tammy Derrigan • Worth Clark Realty

Keagan Marten

Agent | License ID: 475.206207

+1(217) 710-7047

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Keagan Marten

7300 & 7304 Pennsylvania AVE St Louis, MO 63111

Key Details

Location

Interior

Building

Schools

Others

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7300 & 7304 Pennsylvania AVE