Buy and rehab for a great investment income
3520 Harris Ave, St Louis, MO 63115
8 Apartments; 2 Bedroom units on the upper floors and 1 Bedroom on the lower floor
Sold with clear title, no liens or back taxes
Priced to sell - Potential yearly rental income: $48,000
Low Real Estate taxes
Building size: 7,212 Sq ft - 8 units
Lot size: 89 x 93 ft (8,277 sq ft )
Solid well built building - Brick construction requiring a full rehab
Could be great income producing property after the work is done
Excellent location Close to Downtown, St Louis University, Chaifetz Arena, Harris Stowe state University, Washington University in St Louis, Forest park and University of Missouri in St Louis and to several major employers.
Zillow estimated value: $162,206 – Listed in 2009 at $199,900
Public records show property was sold last year for $67,000
2 Bedroom units are renting from $600 to $675/ month and 1 Bedroom from $400*
*Hotpads.com
Based on these figures the estimated gross rental income when the property is rehabbed: $4,000 / month ($48,000/ year)
Sold AS IS, WHERE IS with clear title and no back taxes.
Buyer will be responsible for a $500 ‘deed prep and doc fee’ and a 8% premium.
Winning bidder must contact the seller within 24 Hours after the close of the auction with full details of the buyer.
10% non-refundable deposit and $500 ‘deed preparation fee’ is to be paid within 48 hours of auction close.
Buyer will get a clear title, no liens or back taxes. Title insurance and title work will be paid for by the Buyer.
Final Payment to be made within 3 weeks of the auction close
Buyer to do their own due diligence. No statement anywhere, whether express or implied, shall be deemed a warranty or representation by the Seller regarding these assets. All buyers are deemed to have relied entirely on their own information, judgments and inspections of the property in making the decision to purchase the property.
