7443 Hazelcrest Dr Hazelwood, MO 63042
- Multifamily properties
- 38.23 lot acres
Current Use by Public Records
- Multifamily properties
Property Details for 7443 Hazelcrest Dr
- Year built
- 1966
- Lot size
- 38.23 lot acres
- Property type
- Multifamily properties
Description
This exceptional investment opportunity presents a portfolio of seven well-maintained condos situated across five buildings in the thriving Hazelwood, MO market. The diverse unit mix includes three studios, one one-bedroom, two two-bedroom, and one three-bedroom unit, offering a balanced rental strategy. Currently generating a substantial monthly rental income of $6,125 ($73,500 annually), this portfolio boasts a projected net annual income of $45,930 after expenses of $27,570 (following the rehabilitation and leasing of unit 7596 A). This translates to a 1.2 Debt Service Coverage Ratio (DSCR) based on a purchase price of $440,000, a 20% down payment, and a 7.5% interest rate. Significant upside potential exists due to below-market rents. The property benefits from a convenient location near major employers such as Amazon and Boeing, ensuring high tenant demand. Exterior maintenance, landscaping, and parking are managed by the condo association, minimizing owner responsibilities. Residents enjoy the convenience of off-street parking and on-site laundry facilities. All-electric units contribute to affordable utility costs for tenants, with water, trash, and gas included in the rental price. The hassle-free property management provided by the condo association further enhances the appeal of this low-maintenance investment, making it an ideal choice for passive income seekers. The property sits on a 38.23-acre lot.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Hazelwood
- County
- St Louis
- State
- Missouri
- Longitude
- -90.3417
- Latitude
- 38.7793
