1221-1223 Hebert St StSt. Louis, MO 63107

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.