7427 S Broadway

St. Louis MO 63111

14247 sq. ft.

5767 sq. ft.

Multi-Family

Currently for sale - view listing

Overview

Established in 1757, the French settlement of Carondelet has a rich and impressive history and overlooks the Mississippi River. This 2-bldg. package features 8 apartments and 2 commercial units. The latter is leased to a long-term tenant (a church) and features a large open area with a smaller warehouse in the rear w/garage door opening into the parking lot. Apartments are mix of 6 studios and 2 1-bed units. Window AC & boiler heat included w/rent. Gas water heaters, PVC stacks. Parking in rear & on-street Roofs/gutters new '16. 7425 S. Broadway: 1-story, built in 1936, 2,774 sf. 7427-29 S. Broadway: 3-stories, built in 1896, 11,473 sf. 14,247 sf total. Nearby are restaurants like Stacked STL, a grocery store, independent businesses like Perennial Artisan Ales microbrewery, plus parks, River City Casino, and I-55. Using a pro forma $650 for the vacant units, current income is 85,380 - operating expenses of 37,735, NOI is 47,645 ? an 11.91% cap rate at asking price.

Features

14247 sq. ft. floor area

5767 sq. ft. lot size

Multi-Family

Property history for 7427 S Broadway

2016

Sold

Undisclosed

03 Aug 2016 by Patrice TenBroek, of RE/MAX Results

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