763 Chamberlain Place St Louis, MO 63119

Fully renovated 38 unit apartment building in Webster Groves, 100% occupied with 20 units already leased at proforma rents. Currently the property is bringing in $41,618/month. The 1beds are leasing for $1075/month to $1210/month. The 2beds are leasing for $1350/month to $1425/month. EVERY APARTMENT has IN UNIT LAUNDRY, stainless steel appliances, white shaker cabinets, granite counters, tiled bathrooms and are a great size- extremely easy to lease. 36 GARAGE PARKING spaces + over a dozen off street parking spaces. The property has a pool in the center of the gated courtyard. If you annualize the current rent roll, factor in 5% vacancy and use the 2023 expenses- you arrive at a CAP RATE OF 7.83%. Once you bring all the units to proforma rents, you will be over a 9% cap rate. An in-place cap rate of a building this nice in Webster Groves is truly unheard of. This is extremely popular for Webster University students as they can walk to class. Ask for T12, rent roll and appraisal.

• General Features
  • Year Built 1960
  • Tax Year 2022
  • Tax Annual Amount $25,486
  • Property Sub Type Multi-Family 5+
  • Lease Term Leases
  • Longitude -90.333088
  • Latitude 38.594197
  • County Or Parish St Louis
  • Subdivision John D Finney
• Building Features
  • Attached Garage Y/N No
• Property Features
  • Lot Size Square Feet 74488
  • Number Of Units Total 38
  • Lot Size Dimensions 180x263
  • Lot Size Acres 1.71
• Schools
  • High School Webster Groves High
  • High School District Webster Groves
  • Middle School Hixson Middle
  • Elementary School Avery Elem.