About This Home
This 7-bedroom, 2-bathroom single family at 8433 1st Street in Berkeley, MO is listed for $1,349,000 ($1,653 per sqft). Built in 1953, the home offers 816 sqft of living space on a 0.23 acres lot.
Key Features
- Built in 1953
- 0.23 acre lot
Property Details
Amenities
Rare opportunity to acquire a 12-home single-family rental portfolio offered as one package in the St. Louis market. Located throughout Spanish Lake, Ferguson, and Unincorporated North St. Louis County, the properties are positioned within close proximity for efficient management and maintenance.
The portfolio features a desirable unit mix of all 3- and 4-bedroom homes, creating strong tenant demand from both Section 8 voucher holders and market-rate renters. Professionally managed and largely renovated/rent-ready, the portfolio offers a strong mix of in-place income with immediate lease-up upside.
Current gross rental income is approximately $11,519/month, with four vacant homes fully rent-ready and actively being leased. Seller anticipates at least two additional homes leased prior to closing, increasing in-place income to approximately $14,100/month.
Fully stabilized pro-forma gross rental income is projected at approximately $16,700/month, with estimated annual operating expenses of approximately $53,000 and projected stabilized NOI of approximately $147,000/year. At the $1,350,000 asking price, the portfolio offers a projected stabilized cap rate approaching 10.9%. An excellent opportunity for investors seeking immediate scale, efficient scattered-site operations, dependable rental demand, and value-add upside through lease-up of rent-ready homes.
Monthly Cost Estimate
$7,215/mo
20% down · 6.5% · 30 years
Estimates only. Actual payments may vary.
Location
8433 1st Street
Berkeley, MO 63134
Kinloch Park
Property Details
Construction
Heating
Cooling
Questions & Answers
This 7-bedroom, 2-bathroom single family at 8433 1st Street is listed at $1,349,000 ($1,653/sqft). The estimated monthly payment is $7,214 based on 20% down, a 30-year loan at 6.5% interest, estimated insurance.
Key features include: Built in 1953, 0.23 acre lot.
This property is listed by Matt Guignon and can be reached at (314) 255-5117.