7499 Hazelcrest Dr - Apartments FOR SALE


Hazelwood, MO 63042
$440,000 USD
314-255-5117
7499 Hazelcrest Dr, Hazelwood, MO for Sale
$440,000 USD
Apartments - FOR SALE
1/22
null | 9.72% Cap Rate

7499 Hazelcrest Dr
Hazelwood, MO 63042


OVERVIEW

This portfolio features seven diligently maintained and fully occupied condos across 5 buildings located close to each other in Hazelwood. The condos offer a mix of unit types, including 3 studios, 1 one-bedroom, 2 two-bedroom, and 1 three-bedroom units. With high demand, these units consistently attract multiple rental applications. The current monthly rental income is $6,225, totaling $74,700 annually, while the current annual expenses stand at $31,944, resulting in a net annual income of $42,756. With the new improved price, this investment opportunity meets the 1.2 debt-to-income ratio requirement with a 20% down payment and 7.5% interest rate, with a 20-year amortization. Additionally, there is potential for even higher net income as the units are currently rented below market rates. Property maintenance is hassle-free with the condo association handling all exterior repairs, landscaping, and parking areas. Amenities include dedicated off-street parking, in-unit or on-site laundry, and cost-effective all-electric utilities, covering water, trash, and gas expenses. Major employers like Amazon and Boeing are located within close proximity to the condos.

FOR SALE DETAILS

PRICE

$440,000 USD

PRICE/SF

$85 USD /SF

# OF UNITS

7

PRICE/UNIT

$62,857

CAP RATE

9.72%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1966

PARKING SPACES

-

LAND DETAILS

LAND ACRES

37.44 AC

LAND SF

1,630,989 SF

ZONING

-

APN/PARCEL ID

09H-22-1882,09K-61-2862,09K-61-3939,09K-61-4138,09K-61-4567,09K-61-4590,09K-61-4721

ASK ABOUT THIS PROPERTY

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314-255-5117

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Jordan SchoenInvest Saint LouisMore Info
314-255-5117

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