Wireworks Lofts Apartments

Price on call
Escrow Listing
  • Price Price on call
  • Property Type Multi-Family
  • Property status Escrow Listing
  • Units 79

Address

Address: 1435 S. 18th Street, St. Louis, MO 63104
  • Country: United States
  • Province / State: Missouri
  • City / Town: St. Louis
  • Postal code / ZIP: 63104
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Description

Wireworks Lofts sits on almost a full block in coveted Lafayette Square, one of St. Louis city’s most exclusive
neighborhoods. Among this development are 79 loft style apartments with 3 commercial spaces including Squires
Restaurant.
The property is completely fenced, gated and secured by electronically. The apartment community enjoys a private gym,
pool and courtyard.



UNIT MIX & ANNUAL SCHEDULED INCOME

UNIT TYPE APPROX.SQFT AVG RENTS MONTHLY MKT RENTS TOTAL
2 3 Bed / 2 Bath 1460 1,583 3,166 1,700 3,400
28 1 Bed / 1 Bath 986 1,127 31,556 1,250 35,000
4 2 Bed / 1 Bath 1100 1201 4,804 1350 5,400
10 2 Bed / 1.5 Bath 1424 1,542 15,420 1,600 16,000
33 2 Bed / 2 Bath 1378 1,480 48,840 1,600 52,800
1 Parkside 2454 1,554 1,554 2,454 2,454

ANNUALIZED INCOME

Description Actual Pro
Gross Potential Rent $1,475,400 $1,596,168
Less: Vacancy ($73,770) ($79,808)
Misc. Income $18,192 $18,192
Effective Gross Income $1,419,822 $1,534,552
Less: Expenses ($528,331) ($525,640)
Net Operating Income $891,491 $1,008,911
Debt Service ($662,270) ($662,270)
Net Cash Flow after Debt Service $229,221 $346,641
Principal Reduction $203,576 $203,576
TOTAL RETURN $432,797 $550,217

UNIT


  • 79 Loft Style Apartments with Several Floor Plans to Accommodate Tenants

  • 3 Commercial Tenants Occupying 10,883 Square Feet

  • Rents Well Below Market

  • Sparkling Pool and Fitness Center

  • Gated & Secured Private Parking

  • Located in the Very Desirable Affluent Neighborhood Known as Lafayette Square

  • Extremely Rare Opportunity with High Barrier to Entry

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!

Contact

Nicholas F. Smyrniotis

Property Agent
1750 S. Brentwood Blvd Suite 600 St. Louis MO 63144
(314) 254-8961
nick@mo-apartmentadvisors.com
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