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700 W Union Street

Pacific, MO 63069
  • $850,000
  • STATUS: Closed
  • ON SITE: 49 Days
  • ID#: 22052740
Sold - 09/27/2022
$850,000
SOLD - 09/27/2022
  • 0
    BEDS
  • 0.69
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 14,820
    SQFT
  • $57
    $/SQFT
Neighborhood:
Type:
Commercial
Built:
1985
County:

School Information

Elementary School:
Middle School:
High School:
School District:

Description

16 Unit Investment Property with newer roof (only 2 yrs old). All 2 bedroom/1bath apts, approx. 800 sf with laundry/utility room in each unit. Units are individually metered, all electric, tenant paid. Owner pays water/sewer/trash. Leases are renewed annually, but building has many long term tenants. Rents currently range from $560-625/month. Potential to raise the lower rental rates to a higher market rate as leases renew. Building is usually fully occupied, and easily attracts new tenants when a vacancy occurs. Ample off street parking for tenants and guests. Current owner is absentee and utilizes a management company. A more hands on owner might be able to substantially reduce expenses and increase NOI. Property is conveniently located near Hwy 44 and close to schools and shopping. No For Sale sign at property. Please do not disturb tenants.

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Listing information © 2022 Mid America Regional Information Systems, Inc. Information from third parties deemed reliable but not verified. Data last update 2022-09-29T19:39:22.577.

Keller Williams Realty West: 314-614-9731
www.parsonrealtygroup.com/homes/132008583
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700 W Union Street Pacific, MO 63069

  • Price: $999,000
  • Status: Closed
  • On Site: 49 Days
  • Updated: 6 min ago
  • ID#: 22052740
0
Beds
0
Baths
0
½ Baths
0.69
Acres
14,820
SQFT
$57
$/SQFT
1985
Built
Neighborhood:
Pacific Heights
County:
Franklin
Area:
Pacific/Meramec R-3
Elementary School:
Zitzman Elem.
Middle School:
Meramec Valley Middle
High School:
Pacific High
School District:
Meramec Valley R-Iii
Property Description
16 Unit Investment Property with newer roof (only 2 yrs old). All 2 bedroom/1bath apts, approx. 800 sf with laundry/utility room in each unit. Units are individually metered, all electric, tenant paid. Owner pays water/sewer/trash. Leases are renewed annually, but building has many long term tenants. Rents currently range from $560-625/month. Potential to raise the lower rental rates to a higher market rate as leases renew. Building is usually fully occupied, and easily attracts new tenants when a vacancy occurs. Ample off street parking for tenants and guests. Current owner is absentee and utilizes a management company. A more hands on owner might be able to substantially reduce expenses and increase NOI. Property is conveniently located near Hwy 44 and close to schools and shopping. No For Sale sign at property. Please do not disturb tenants.
Exterior Features

Attached Garage YN No Construction Materials Brick VeneerCedar Lot Size Dimensions 151X154x198x199 Lot Size Source County Records Parking Features Guest ParkingParking LotUnassigned

Interior Features

Above Grade Finished Area Source Public Records Cooling Electric Heat Source Electric Heating Forced Air Heating YN Yes Laundry Features Prvt Laund All Units

Property Features

Association St. Louis Association Of Realtors Association Fee 0 Association Fee Frequency None Builder Model Low/1-2 Cable Available No Cross Street 6th Street Disclosures UnknownFlood Plain NoOccupancy Perm ReqSellers Discl Not Av Inclusions Building & Land Lease Term Leases Location Suburban Net Operating Income 55394 Ownership Private Possession Close Of Escrow Property Condition None Property Sub Type Multi-Family 5+ Property Sub Type Additional Apt Bldg/Exterior En Sewer Public Sewer Special Listing Conditions None Tax Annual Amount 8946 Tax Year 2021 Tenant Pays Electricity Three Bed Units 0 Transaction Type Sale Two Bed Units 16 Water Source Public

Listing provided courtesy of Realty One Group Dominion: 2297232. Listing information © 2022 Mid America Regional Information Systems, Inc.
Listing information © 2022 Mid America Regional Information Systems, Inc. Information from third parties deemed reliable but not verified. Data last update 2022-09-29T19:39:22.577.

Keller Williams Realty West: 314-614-9731
 
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Keller Williams Realty West
856 Waterbury Falls Dr Suite 200
O'Fallon MO, 63368