USAMOFergusonRandolph Place400 S Clark Ave

400 S Clark Ave, Ferguson, MO

House

For Sale

Listed price in listed location currency (USD).

$112,438

320

MLS® 26052525

Overview

Key Facts

Type Single Family Residence

Levels Residential

Size 1736 sqft

Garage

Taxes $1,929

Days Active 0

Lot Size 0.18 Acres

Approx. Age 1936

Avg. Price Per Sqft $64

MLS® Number 26052525

Property Address: 400 S Clark Ave, Ferguson, MO, 63135-2639

Average square foot calculated using Size range provided by listing agent.

Description

This home is part of a 16-home rental portfolio in North St. Louis County with an average rent of about $1, 732 per home. The package gives an investor the chance to add immediate scale with a well-established tenant base. Offered at $1, 799, 000, or about $112, 438 per home, the portfolio generates $27, 717 in monthly rent and approximately $332, 604 annually. Based on the current pro forma, estimated annual net rental income is $197, 097, resulting in an estimated 10.96% cap rate at the asking price. Fifteen of the 16 homes are currently leased, and the remaining property is expected to have a Section 8 tenant in place by closing. Twelve of the homes have or are expected to have Section 8 leases, with the other four rented at market rates. The tenant history is especially strong, with an average tenure of approximately six years and three tenants who have lived in their homes for more than 10 years. The seller has also taken some of the guesswork out of evaluating the portfolio. Professional pre-listing inspections were completed on 15 of the 16 homes, giving buyers detailed information about the condition of the properties before making an offer. Some of the homes have older roofs and mechanical systems, and the asking price reflects that future capital expense. The portfolio is being sold as-is, with no seller repairs or credits. For an investor looking to grow an existing St. Louis rental operation, this is an opportunity to acquire 16 homes at once with nearly full occupancy, long-term tenants, substantial Section 8 income and a great return from day one without having to assemble the portfolio one property at a time. Please view the virtual tour of this property at: https://my.360tourlink.com/70f1e6d7-d752-4897- 8607-56304418588b?type=unbranded Please see the documents section for a brochure with complete details on the package.

MLS® Number26052525

Laundry Level

Central VacNo

FireplaceYes

Acreage

Exterior

Garage

Approx. Age1936

BasementPartially Finished, Full

Driveway

Garage Spaces

HeatForced Air

A/CCentral Air

Extras

Map

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