Harmony West Apartments

$1,300,000
Recently Sold
  • Price $1,300,000
  • Property Type Multi-Family
  • Property status Recently Sold
  • Year Built 1959
  • Units 38

Address

  • Country: United States
  • Province / State: Missouri
  • Postal code / ZIP: 63118
Open on Google Maps

Description

Harmony West Apartments is a 38 unit apartment community located in South St. Louis Missouri. The Property consist of 38 one bedroom, one bathroom units with an average rent of $469 and the ability to be higher based on similar rental comparables. Harmony West Apartments includes new windows, pitched roofs, off street parking, forced heat, central air and hardwood floors. The Property is being offered at $1,300,000 which generates an 8.45 percent capitalization rate and 13% cash on cash return. Harmony West Apartments is located in an area designated “opportunity zone” providing tax benefits for the new Buyer.



UNIT MIX & ANNUAL SCHEDULED INCOME

UNIT TYPE APPROX.SQFT AVG RENTS MONTHLY MKT RENTS TOTAL
38
1 Bedroom / 1 Bathroom
550
469
17,822
530
20,140

ANNUALIZED INCOME

Description Actual Pro
Gross Potential Rent
Less: Vacancy
Misc. Income
Effective Gross Income
Less: Expenses
Net Operating Income
Debt Service
Net Cash Flow after Debt Service
Principal Reduction
Total Return
$213,864
($12,832)
$1,740
$202,772
($90,851)
$111,921
($82,533)
$29,388
$21,469
$50,857
$241,680
($14,501)
$1,740
$228,919
($93,963)
$134,956
($82,533)
$52,422
$21,469
$73,892

UNIT


    • 38 Unit Apartment Community

    • Solid Brick Building with Pitched Roofs

    • Vinyl Windows

    • Employment, Entertainment and Dining Nearby

    • 8.45% Cap Rate Based on List Price, 13% Cash on Cash

    • Located in Opportunity Zone

    • Several Tax Benefits

MEMORANDUM

To receive a detailed Offering Memorandum, please fill out and submit the form below. We will send you an email with PDF attachment (must have Acrobat Reader). Thank you for your interest!
Harmony-West-Apartments_OM.pdf Download

Contact

Get Directions

Contact

Mike Zangara

Property Agent
1750 S. Brentwood Blvd Suite 600 St. Louis MO 63144
mzangara@mo-apartmentadvisors.com
Other Properties

Submit a Comment

Your email address will not be published. Required fields are marked *