5101 S Kingshighway Boulevard
St Louis, MO 63109
Listed: May 22, 2024
Closed Date: August 21, 2024
Text for showing or question.

$1,650,000
MLS# 24032581
Commercial Sale
Status: Closed

5101 S Kingshighway Boulevard
St Louis, MO 63109

$1,650,000
Status: Closed
Text for showing or question.

Bedrooms

Beds

Bathrooms

Bath

13869

Sq Ft Above Grade

Sq Ft

0.077
Acres

MLS# 24032581

Days On Market: 199

Listed: Wednesday May 22, 2024
Closed Date: August 21, 2024

Times this home has been viewed: 553

Well-maintained apartment complex in the South Hampton neighborhood. The seller has recently completed adding some central heating systems which will reduce heating costs, increase rent potential in the future, and add value to the building. Built in 1928, the building has beautiful architectural detail including some terrazzo floors. There is a value-add component with many rents below market. Nearby similar 1-bed apartments are renting for as much as $995. Owner has raised rents of some non-updated units. 9 units have been recently updated and 1 has been partially updated. The owner now charges $40 to new tenants or renewals for internet. Some units have not been charged for internet yet. There is also income from the common laundry. Building has updated electric panels and exterior service. Storage units are available for tenants. Potential to add more storage. There is some pvc and pex plumbing being added to renovated units. There are 3 commercial spaces rented on the first floor.

Property Description

Photo: 3