1221-1223 Hebert St St St. Louis, MO 63107
- Apartment buildings
- 7,290 SF
Current Use by Public Records
- Apartment buildings
Property Details for 1221-1223 Hebert St St
- Year built
- 1890
- Property size
- 7,290 SF
- Property type
- Apartment buildings
Description
This vacant, six-unit apartment building at 1221-1223 Hebert St, St. Louis, MO 63107, presents a unique redevelopment opportunity. The 7,200 square foot, three-story brick and stone structure, built in 1890, sits on a 7,300 square foot lot and is zoned for four families. Currently vacant and requiring a complete gut renovation, this property offers significant potential. The building's prime location in the Old North St. Louis Historic neighborhood, undergoing a revitalization, is less than 1.5 miles from a major new development and minutes from downtown St. Louis and the airport. The asking price is $79,500 ($13,250 per unit), with a projected Year 2 cap rate of 10.28% and a projected NOI of $59,569. The property is being sold "as-is," and potential investors should note the availability of historic rehab tax credits (25% state, 20% federal). This presents a chance to create a high-return investment in a rapidly appreciating area. The property's size allows for various redevelopment options, including conversion into townhouses. This is a blank canvas for a visionary investor to create a masterpiece in a sought-after neighborhood.
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
- St. Louis
- County
- State
- Missouri
- Longitude
- -90.1962
- Latitude
- 38.6537
