Property Highlights
- Type: 14-unit townhome portfolio in Carondelet, South City STL.
- Each Unit: 3 beds, 3 baths, ~1,556 sqft with 1-car garage + rear deck.
- Construction: Frame with brick veneer.
- Basement: Unfinished.
- Yard: Large shared backyard.
- Street: Quiet block with newer construction – strong curb appeal!
Condition
- Turnkey portfolio with light cosmetic needs only.
- All units are in decent shape – one is vacant and two are pending eviction.
- Rent-ready with minor updates: light cosmetics only.
Key Systems
- Ages of systems not provided – buyer to verify.
- Units maintained and functional per seller.
- All showings require an accepted offer.
Investment Highlights
- Wholesale Price: $2,185,000.
- Monthly Gross Rent: $22,300 across 14 units.
- Annual Gross Rent: $267,600.
- ARV: $2,730,000 – supported by comps.
- Rehab Estimate: ~$5,000 for light cosmetics.
- Cash Flow Potential: Existing rents at $1,650–$1,695/month with upside available.
Financing Options: DSCR and hard money friendly.
Buy Now Price: $2,190,000.
Price Drop Schedule: $7,500 weekly.
Comparable Sales (Comps)
- 6612 Minnesota Ave – as-is sale.
- 6609 Minnesota Ave – as-is sale.
- 6603 Minnesota Ave – as-is sale.
All comps support the current valuation without major rehab – excellent basis for long-term equity growth.
Additional Details
Closing Date: Targeted for August 29, 2025.
Occupancy: Mixed – most rented, 1 vacant, 2 pending eviction.
Access: Coordinate with seller. Showings allowed with accepted offer.
Seller is open to separating units, but prefers to sell as a package.
If interested, text or call Austin Adams at (314) 350-4227 or email aadams@threedoors.com to get your offer in!
Important Notice: Three Doors and Three Doors Properties make no warranties or guarantees regarding the accuracy of information, property condition, ARV, or any other details. All properties are sold as-is, by private sellers to private buyers. Buyers are responsible for conducting their own due diligence. All listings and transactions must comply with local, state, and federal laws.