Property Description

This triplex presents a solid value-add opportunity in the evolving Greater Ville neighborhood of St. Louis City, offering both in-place income and upside potential. One unit is currently leased, while the 3-bedroom, 1.5-bath townhouse and an additional 2-bedroom, 1-bath unit are vacant, providing flexibility for an owner-occupant or investor.The occupied 2-bedroom, 1-bath unit is leased on a month-to-month basis at $800 per month, with rents currently below market, offering a clear path to increased income over time. The other 3 bed 2 bath is also occupied at $1350 with a 1 yr lease expiring in May 2027. Recent improvements include approximately $18,000+ in updates, including plumbing repairs, water heater installation, bathroom updates, and general unit stabilization. Two units feature newer HVAC systems, and the roof is approximately eight years old, helping to reduce near-term capital expenditures.Based on area rental data, projected rents are approximately $1,200-$1,500 for the 3-bedroom unit and $850-$1,050 for the 2-bedroom units, creating a potential stabilized gross income in the $2,800-$3,200/month range.The vacant townhouse unit provides an opportunity for owner-occupancy or immediate lease-up to maximize returns.Conveniently located near Ranken Technical College, the new NGA campus, major highways, and local amenities, this property is well positioned for continued rental demand. Ideal for investors seeking a value-add asset with improvements already completed and strong income potential.

Property Features

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