Luxury Page Apartments

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Address: 5437 Page Blvd, St. Louis, MO 63112, USA

Chicago & Midwest + Apartment Buildings

Created date: June 7, 2024

Date last updated: September 13, 2024

4-Building Complex
3-Story Buildings
12-3-Bedroom Apartments
1,000+ SF Apartments
There is a large lot in the Rear for Parking
All Apartments Recently renovated
Current NOI $116,520
High Occupancy Property
Priced to sell at $116,667 /Key-$1,400,000.00, this property is a worthwhile investment.
Portfolio Purchase Opportunity: This property and 4981 Rosalie Street can both be purchased for $2,250,000.

Property Description

5437-5445 Page Blvd Apartments are four 3-story Brick Apartment Buildings. Each building boasts a 1,000 SF 3-bedroom Apartment on every floor. The property has undergone a recent 100% renovation, elevating it to a modern standard. These contemporary apartments feature spacious bedrooms with high ceilings (8 Ft +), ceiling lights, 6-panel doors, laminate flooring drywall, insulated windows with mini blinds, and sleek kitchens adorned with subway tile, electric range, hood, and refrigerator. The apartments are all electric and have a 200-amp service with a Homeline load center for all outlets, lights, and kitchen appliances inside each apartment. All HVACs and plumbing are also newer. Steel Stairs lead from the kitchens to the rear parking lot. Tenants pay Electric. Financials Monthly rents range from $850 to $1200, providing a solid foundation for a promising Proforma Net Operating Income of $116,520 with all units occupied. The break-even occupancy is a manageable 22.8%. However, the true potential of this property lies in its ability to generate more revenue. According to “RentoMeter.com,” the average rent for a similar-sized apartment in this neighborhood is $1,959 monthly, presenting a significant opportunity for increased revenue. Priced to sell at $116,667 /Key-$1,400,000.00, this property is a worthwhile investment. Portfolio Purchase Opportunity: This property and 4981 Rosalie Street can both be purchased for $2,250,000. Location: Experience the family-friendly environment of the Hamilton Heights Neighborhood. These apartments are nestled between Better Family Life and Bayer YMCA on Page Blvd, with Annie Malone Children & Family Service and Peace Villa Senior Living just a block away. These non-profit organizations, dedicated to community support and services, create an ideal neighborhood for families. The apartments are situated at the intersection of Semple Ave and Page Blvd, just two blocks west of Union Blvd, where you'll find the 'Save A Lot' store. Plus, the Metro Transit Bus Rt #94 Page runs past the property, offering public transportation to all parts of the City right at your doorstep.

Available

Key Property Information

Listing Status:	Available
Property Types:	Apartment Buildings
Price:	$1,400,000
No. of Units:	12
Cap Rate:	8.32%
Average Occupancy:	95
Year Built:	1908
Year Renovated:	2020
Building Size:	15,924 Sq ft
Lot Size:	20,286.00 Sq ft
No. of Stories:	3
APN:	3801-9-180.000
Zoning Code:	B-Two Family Residential
Opportunity Zone:	No
Price per unit:	$116,667
Parking Spaces:	20