Exquisite Trophy property in the heart of Soulard***36 loft-style apartments in an iconic Ittner-designed former school building***Existing Fannie Mae financing to be assumed - 3.62% interest with 8.5 years remaining - well below current market rates!***Gracious entryway and hallways with impressive scale and elegance - feels like a quality hotel***top-to-bottom renovation in 2017, loft-style apartments with 10-12+ foot ceilings, huge windows providing ample natural lighting, refinished concrete and original hardwood floors, original built-ins from former school days, designer lighting, gym, numerous outdoor spaces on the 1.59 acre lot. Solar panels reduce building electric costs, 33 car gated, secured parking lot plus the nicest 11 car garage you'll ever see. 18.43% projected 10 year IRR with existing loan assumed. 6.21% cap rate and 10.87% cash-on-cash on Y1 proforma. 6.15% cap on May RR. Add in-unit laundry to boost cash-on-cash returns into the 13-14% region. Qualified buyers only
Courtesy of: RE/MAX Results Copyright 2022, Mid America Regional Information Systems, Inc.(MARIS). All rights reserved. St. Louis - Kirkwood does not display the entire IDX database of Mid America Regional Information Systems, Inc. (MARIS MLS) on this web site. Property listings of some REALTOR® brokerage firms have been excluded. Listings displaying the MARIS logo are courtesy of the participants of Mid America Regional Information Systems Internet Data Exchange. Information provided deemed to be reliable but is not guaranteed to be accurate. Buyers are advised to verify all facts before making a decision on purchasing a property. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user. Mid America Regional information Systems, Inc. (MARIS) will not be held responsibility for the content of such records.