Description
Investor opportunity at 8838 Park Lane. This 2-bedroom, 1-bath rental home is currently leased for $1,055/month with a month-to-month tenant in place, providing immediate income and future flexibility. Property could benefit from cosmetic updates and a light unit turn, offering upside for an investor looking to improve condition and capture stronger market rent over time. Seller is acting as Power of Attorney for an inherited four-home portfolio and prefers to sell this property together with the other three homes. The portfolio includes two occupied homes and two vacant, move-in-ready homes, with expected total portfolio income of approximately $4,900/month. The properties are located in close proximity to one another, creating operational efficiencies and making them easier to manage. This is a light value-add rental opportunity in an area with strong market-rate and Section 8 rental demand. The two vacant homes are in good condition and could likely be rented with little to no work needed, while the two occupied homes are below market rent and offer future upside through light make-readies and rent growth as leases allow. Excellent opportunity for a first-time investor or seasoned operator looking to add a manageable rental portfolio in the area. Property to be sold along with: 258 Becker Dr - MLS# 26036458 , 2823 Meadowlark Ave - MLS# 26036063 and 1277 Admiral Dr - MLS# 26036113
Details
| MLS # | 26036203 |
|---|---|
| Listing Type | For Sale |
| Style | House |
| Sub-Type | Resale |
| Status | Pending |
| Year | 1941 |
| Days On Site | 73 |
| Listing Provided By | Invest St. Louis | Joey Schenck |
Features
| Bed(s) | 2 |
|---|---|
| Bath(s) | 1 Total |
| SQ Feet | 1,144 |
| Basement | Y |
| Story(s) | 1 |
| Acreage | 0.16 |
Interior
| Rooms Total | 5 |
|---|---|
| Cooling | Central Air |
| Heating | Forced Air |
Exterior
| Roof | Pitched/Sloped |
|---|---|
| Construction Materials | Brick |
| Lot Features | Back Yard |
Parking
| Garage Yes / No | No |
|---|---|
| Attached Garage Yes / No | No |
Utilities
| Utilities | Electricity Connected, Sewer Connected, Water Connected |
|---|---|
| Electric | Ameren |
| Sewer | Public Sewer |
Taxes
| Property | 498 |
|---|
Area Information
| State | MO |
|---|---|
| County | St Louis City |
| City | St Louis |
| Zip Code | 63147 |
| Area | North |
| Community Name | Hills At Gateway Add |
| School District | Vashon High |
| Elementary School | Earl Nance Sr. Elem. |
| High School | Vashon High |
| Listing VS Median (in Hills At Gateway Add) | |
Price: $69,900 low | high Med: $122,450 sqft: 1,144 low | high Med: 1,142 $ / sqft: $61 low | high Med: $107 On site: 73 low | high Med: 98 | |
Market Activity 63147
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Listings courtesy of Maris MLS as distributed by MLS GRID.
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Learn More About This Property
| State | MO |
|---|---|
| County | St Louis City |
| City | St Louis |
| Zip Code | 63147 |
| Area | North |
| Community Name | Hills At Gateway Add |
| School District | Vashon High |
| Elementary School | Earl Nance Sr. Elem. |
| High School | Vashon High |
| Listing VS Median (in Hills At Gateway Add) | |
Price: $69,900 low | high Med: $122,450 sqft: 1,144 low | high Med: 1,142 $ / sqft: $61 low | high Med: $107 On site: 73 low | high Med: 98 | |
