Neighborhood: Peter Lindells 2nd Add, Central West
Property Taxes: $53,697
Tax Year: 2021
Extremely rare opportunity to purchase a true "value add" investment with stabilized cash flows in the Central West End. Maryland Lofts is a 54 unit multi-family property consisting of 18 lofted 1br units and 36 efficiency apartments. The 1br apts are two story lofted units, and are very unique (13 have updated kitchens & w/d in unit). The efficiency units are highly sought after by young professionals and are simple and cost effective to turn. The property has been over 95% occupied for the past 10 years.
The building also has additional neighborhood security provided by the Cathedral, and "TCF" (The City's Finest). A separate police dept within the city of St. Louis that services the Cathedral and surrounding area.
Maryland Lofts was constructed in 1966 (copper wiring) and features solid brick construction with pitched roof's. The property was gut rehabbed in the 2000's, forced heat, central air, newer plumbing, new electric, windows, drywall, and a new storm sewer system
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