Asset Type: Real Estate
Estate: Fee Simple
Land Area: 0.28 Acres
Property Size: 4,164 SF
Property Type: Multifamily
Year Built: 1891
Number of Units: 4
Investment Highlights
- Prime location in The Grove near Forest Park, Cortex, Barnes Hospital, and Manchester Avenue dining and entertainment
- Fully renovated three-family property totaling 4,164 SF
- Unit mix includes one spacious 3-bed/2-bath townhome and two large 1-bed/1-bath units
- Updated interiors featuring hardwood floors, fireplaces, central air, and in-unit laundry
- Outdoor amenities include patio space, balconies, large backyard, and 2-car brick garage
- Strong owner-occupant or investment opportunity with future rental upside potential
Offering Summary
Prime Location in The Grove:
This updated three-family property is near Forest Park, The Botanical Gardens, The Cortex, Barnes Hospital, and the vibrant shops and restaurants on Manchester.
Spacious & Fully Renovated Units:
Spanning 4,164 square feet, this fully renovated building includes a converted 3-bedroom, 2-bathroom townhome encompassing over 2,000 square feet. There are also two 1-bedroom, 1-bathroom units, each boasting over 1,000 square feet. Both 1-bedroom, 1-bathroom units are currently occupied. The 3-bedroom, 1-bathroom townhome is vacant and move-in ready.
Modern Features & Amenities:
The building features updated kitchens with some stainless steel appliances, updated bathrooms, fireplaces, central air, and hardwood floors. Tenants also enjoy the benefits of in-unit washer and dryer facilities, a patio, and balconies for the top-floor units.
Outdoor Space & Parking:
A brick 2-car garage is located behind the building, along with a very large, partially fenced-in backyard for tenants to enjoy.
Owner-Occupant & Investment Potential:
This property is ideal for an owner-occupant looking to live in one of the units. There is also potential to increase rents in the future, with similar 1-bedroom units averaging rents of $1,508 within a mile-and-a-half radius, and comparable 3-bedroom units averaging $3,736 within three miles.
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