4053 Mississippi Ave, Cahokia, IL 62206

Cash cow! 5 Minutes from downtown St Louis. 88-unit apartment complex. 80 two bedrooms and 8 one bedrooms, 11 buildings total. Year built 1983. Yearly gross now $594,876.00 with the potential of $786,720.00 a year. The average rent per unit now is about $620. The average market rate per unit is $745 per unit. Plenty of room for rent increases. Very high rent demand area. We have 6 vacant units that are currently in the process of being renovated, but there is no problem staying at a near 100% occupancy rate. We have put around $700,000 worth of updates since 2018. 53+ units have been completely renovated. Average renovated unit consist of, All new 6 panel doors and frames, new appliance, cabinets, flooring, plugs & light switches etc. Many units have new furnaces & A/C units. Fannie Mae Loan Assumption @ 3.71%. $1,651,000. Interest Only Thru July 2023 5 Minutes from downtown St Louis. 4053 Mississippi Ave, Cahokia, IL 62206. Serious inquiries only. Sale price is $3,450,000. Cap Rate 9.2%