5315 Cabanne Ave, Saint Louis, MO 63112

Description

The Cabanne Castle is a three-story Tudor-style brick condominium building in the West End, totaling approximately 31,898 sq. ft. It includes 42 units: (24) 1-bed 1-bath and (18) 2-bed / 1-bath. Market rent for the 1 bedrooms is $1,285 based on 24 single bedroom apartments within a mile in the last year, 2 bedrooms avg rent is $1,476 based on 21 apartments in the last 18 months. Pro forma income once renovated and stabilized is $647,562 with net income of $420,916. The lower level offers 24 underground parking spaces and room for tenant storage. This multi-family rehab is ideal for developers or investors. While the project needs completion, many plans and permits have al...