2823 Henrietta St Louis, MO 63104

Architecturally significant four-family built located in The Gate District close to Lafayette Park, St. Louis University Hospital, St. Louis University School of Medicine and Cardinal Glennon Hospital. Rehabbed ~1,200 square foot 2 bed 1 bath units with updated kitchens with new cabinets, countertop...s, stainless steel appliances, renovated bathrooms, new flooring throughout, new back staircases. Newer roof, new electric panels, new HVAC, & all units have full-size washer & dryer inside the unit. In short, all the major updates/work is done here - "A" level finishes, young systems, and an exterior in good shape. Currently fully occupied w/ rents avg below $1/sf. With proforma/market rents at ~$1.13/sf ($1395/unit), the building delivers an 8% cap rate w/ a 1.25 DSCR at list price with current interest rates. Extensive media (including full video walkthrough of all units, basement, & exterior), 3D scans of two units, and documentation (survey etc) are available in supplements. Continue reading