3605 Meramec Street, St Louis, MO, 63116

This is a solid mixed-use property with 4 commercial spaces, 6 efficiency units, and 4 1-bed units. All the residential units have a private balcony so even the efficiency units feel spacious. (Listing shows the commercial spaces as 2-bed units). Seven of the ten residential units have been updated with laminate wood flooring and hotel-style heating and air conditioning wall units. The commercial units have central air. The building is structurally sound and has updated plumbing and electric. Large basement is not used by tenants and would be great for your building supply storage needs – or rent it out. Great visibility and easy access to public transportation. One commercial unit is currently vacant, perfect for an owner occupant. With existing current rents plus $650 for the vacant unit, less current operating expenses (see RPV in supplements), this property has an NOI of $47,871, making it a 6.298% cap at asking price.