3615 Risch Avenue, St. Louis, Missouri 63125, USA

A Great Investment Opportunity in St. Louis, MO

Property Details

A unique property featuring two separate single-family bungalows on one large lot. Building 1 offers 1 bedroom, 1 bathroom, and 731 sqft of living space with brick exterior. Building 2 features 3 bedrooms, 1 bathroom, and 603 sqft of living space with aluminum/vinyl exterior. Combined lot size of 9,374 sqft with driveway parking. Both structures are single-story with full basements.

• Roof: Not specified

• Furnace: Rudd gas furnace installed 5 years ago

• AC: Window units only (no central air)

• Plumbing: Not specified

• Electrical Panel: Building 2 needs electricity updated

• Water Heater: Not specified

The property will be delivered vacant at closing.

Investment Highlights

• Two separate single-family residences on one large lot - unique opportunity to split the lot and sell each individually

• Located in B-rated Hancock Place School District

• Strong market performance in zipcode with 55% sales success rate and average 14 interested buyers per deal

• Comparable sales in the area ranging from $135k-$174k per renovated unit, with highest comp selling in just 19 days

• Great fix and flip potential with 22% ROI after transaction costs

• Low entry point on a property last sold for $12.7k in 2021

Financial Summary

• ARV (After Repair Value): $270,000 - $300,000

A Wonderful Wholesale Opportunity!