Undisclosed Address

St Louis, MO, 63104

$7,600,000

$122 per ft²
$7,600,000
$122 per ft²
Active Under Contract
Active Under Contract
 - For Sale
carpenters-square
61,946 ft²
property_type
Multi-family
calendar
Built 1906
Exquisite Trophy property in the heart of Soulard***36 loft-style apartments in an iconic Ittner-designed former school building***Existing Fannie Mae financing to be assumed - 3.62% interest with 8.5 years remaining - well below current market rates!***Gracious entryway and hallways with impressive scale and elegance - feels like a quality hotel***top-to-bottom renovation in 2017, loft-style apartments with 10-12+ foot ceilings, huge windows providing ample natural lighting, refinished concrete and original hardwood floors, original built-ins from former school days, designer lighting, gym, numerous outdoor spaces on the 1.59 acre lot. Solar panels reduce building electric costs, 33 car gated, secured parking lot plus the nicest 11 car garage you'll ever see. 18.43% projected 10 year IRR with existing loan assumed. 6.21% cap rate and 10.87% cash-on-cash on Y1 proforma. 6.15% cap on May RR. Add in-unit laundry to boost cash-on-cash returns into the 13-14% region. Qualified buyers only
MLS® ID:
22037009
Updated:
10/3/22

Interior Features

Total Bedrooms
0
Total Bathrooms
0
Laundry Description
Common Laundry
Cooling
Electric
Heating
Forced Air

Exterior/Building Features

Lot Size
1.59 acres lot
Sewer
Public Sewer

School Information

School District
St. Louis City
High School
Vashon High
Middle/Jr High
Peabody Elem.
Elementary School
Peabody Elem.

Other Property Details

Area Name
South City
Taxes
$12948
Tax Frequency
per YEAR
HOA Amenities
Some Balc/Some Terrc, Fitness Center
Garage
No
Parking
Space/Unit - 1, Parking Garage, Security Parking
View
N
County
St Louis City
Water Source
Public
Pool
No

Property History

Date
Event
Price
Value
8/29/22
Active Under Contract
-
-

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