This fantastic huge brick built four apartment multi family home is located in Penrose, Saint
The property is divided into four large apartments, you have two large two bedroom apartments
upstairs and two large two bedroom apartment downstairs. The property has just finished being
completely updated inside bringing all four apartments up to a good rental ready standard.
The management company will place brand new tenants when the new owner closes on the
property each paying $650 – $700 in rent each month. The tenants can be either Section 8 or
private, the decision will be for the new owner.
This property is located in Penrose which is only 5 miles to the centre of downtown Saint Louis.
The property is also only five minutes to the Fairground park which opened in 1908 .The park
has a huge history and is very well kept and spans 131.46 acres. Local residents enjoy the park
for fishing, skating on the roller rink, festivals, picnicking under trees, playing tennis or just
enjoying the walks with many beautiful lakes.
Purchase price: 159,900
Gross annual rental income: $33,600
Property running costs: $4,768
(Tax, insurance and management costs)
Net annual rental income: $28,832
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 18%
Break even in 5.5 Years