310 Midlothian Road,Unincorporated, MO 63137
Unincorporated, MO 63137
Description
Rare opportunity to acquire a 12-home single-family rental portfolio offered as one package in the St. Louis market. Located throughout Spanish Lake, Ferguson, and Unincorporated North St. Louis County, the properties are positioned within close proximity for efficient management and maintenance. The portfolio features a desirable unit mix of all 3- and 4-bedroom homes, creating strong tenant demand from both Section 8 voucher holders and market-rate renters. Professionally managed and largely renovated/rent-ready, the portfolio offers a strong mix of in-place income with immediate lease-up upside. Current gross rental income is approximately $11,519/month, with four vacant homes fully rent-ready and actively being leased. Seller anticipates at least two additional homes leased prior to closing, increasing in-place income to approximately $14,100/month. Fully stabilized pro-forma gross rental income is projected at approximately $16,700/month, with estimated annual operating expenses of approximately $53,000 and projected stabilized NOI of approximately $147,000/year. At the $1,350,000 asking price, the portfolio offers a projected stabilized cap rate approaching 10.9%. An excellent opportunity for investors seeking immediate scale, efficient scattered-site operations, dependable rental demand, and value-add upside through lease-up of rent-ready homes.
Details
| MLS # | 26041434 |
|---|---|
| Listing Type | For Sale |
| Style | House |
| Sub-Type | Resale |
| Status | Active |
| Year | 1953 |
| Days On Site | 54 |
| Listing Provided By | Invest St. Louis | Matt Guignon |
Features
| Bed(s) | 3 |
|---|---|
| Bath(s) | 1 Total |
| SQ Feet | 854 |
| Basement | Y |
| Story(s) | 1 |
| Acreage | 0.15 |
Interior
| Rooms Total | 5 |
|---|---|
| Cooling | Central Air |
| Heating | Forced Air |
Exterior
| Construction Materials | Vinyl Siding |
|---|---|
| Lot Features | Level |
Parking
| Garage Yes / No | No |
|---|
Utilities
| Utilities | Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected |
|---|---|
| Electric | Ameren |
| Sewer | Public Sewer |
Taxes
| Property | 1242 |
|---|
Area Information
| State | MO |
|---|---|
| County | St. Louis |
| City | Unincorporated |
| Zip Code | 63137 |
| Area | Riverview Gardens |
| Community Name | Glasgow Village Unit 4 |
| School District | Riverview Gardens Sr. High |
| Elementary School | Lewis and Clark Elem. |
| High School | Riverview Gardens Sr. High |
| Listing VS Median (in Glasgow Village Unit 4) | |
Price: $105,000 low | high Med: $90,000 sqft: 854 low | high Med: 974 $ / sqft: $123 low | high Med: $92 On site: 54 low | high Med: 49 | |
Market Activity 63137
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Listings courtesy of Maris MLS as distributed by MLS GRID.
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Learn More About This Property
| State | MO |
|---|---|
| County | St. Louis |
| City | Unincorporated |
| Zip Code | 63137 |
| Area | Riverview Gardens |
| Community Name | Glasgow Village Unit 4 |
| School District | Riverview Gardens Sr. High |
| Elementary School | Lewis and Clark Elem. |
| High School | Riverview Gardens Sr. High |
| Listing VS Median (in Glasgow Village Unit 4) | |
Price: $105,000 low | high Med: $90,000 sqft: 854 low | high Med: 974 $ / sqft: $123 low | high Med: $92 On site: 54 low | high Med: 49 | |
