Multi-Family for Sale: 3225 Ashby Road, St Ann, MO 63074 SOLD
15,508 sqft
$1,445,000
$1,445,000
3225 Ashby Road,
St Ann, MO 63074 SOLD
15,508 sqft
$1,445,000
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Selling Price: $1,445,000
Original List Price: $1,499,000
Sold at 96.4% of list price
Sold Date: 01/13/2023
Type Multi-Family
Total Living Area 15,508 sqft
Lot Size 0.67 acres
Year Built 1964
Taxes Paid $18,733
City St Ann
Area Ritenour
County St Louis
Subdivision Ashby Heights Apartments
MLS 22064551
Status Closed
DOM 107 days
Ashby Heights Apartments is a 20-unit apartment complex property at 3225-33 Ashby Rd, in St. Louis, Missouri.
Ashby Heights offers a tremendous value add opportunity with a proven cosmetic update plan. 6 of the 20 units have already been updated and are experiencing incredible demand from the rental market.
Ashby Heights Apartments has an in place cap rate of 7.03% and once the cosmetic update plan has been completed, an 8.40% unlevered yield on cost ($1,499,000 purchase + $9,000 x 14 units = $1,625,000 total cost).
The property offers abundant off-street parking (+/- 25 spaces). A new coin operated laundry room has been added to the basement to serve non-updated units while the renovation plan is executed. All units have central air conditioning and heat. The property has walk out basements that provide an option for an owner to offer storage to tenants for additional income.
Lot & Building Features
Construction Brick Veneer
Cooling Electric, Gas
Heat Source Gas
Heating Forced Air
Parking Description Parking Lot, Space/Unit - 1
Sewer Public Sewer
Tax Year 2021
Water Public
Lot Dimensions N/A
Community and Schools
Junior High School Hoech Middle
Senior High School Ritenour Sr. High
Price History of 3225 Ashby Road, St Ann, MO
Date | Name | Price | Difference |
---|---|---|---|
10/04/2022 | Listing Price | $1,445,000 | N/A |
*Information provided by REWS for your reference only. The accuracy of this information cannot be verified and is not guaranteed. |
Direct: 618-830-3952
Office
Listed by Salient Realty Group, LLC, Tyler Alms & Garen Lafser
Sold by Real Broker LLC, Lynne Hart
Listing Last updated . Some properties which appear for sale on this web site may subsequently have sold or may no longer be available. Walk Score map and data provided by Walk Score. Google map provided by Google. Bing map provided by Microsoft Corporation. All information provided is deemed reliable but is not guaranteed and should be independently verified. Listing information courtesy of: Salient Realty Group, LLC Listings displaying the MARIS logo are courtesy of the participants of Mid America Regional Information Systems Internet Data Exchange |