INVESTORS & HOUSE HACKERS—THIS ONE IS READY TO GO! Welcome to 4028 S Spring Ave, a nicely updated South City duplex offering an excellent combination of current rental income, an immediately usable second unit, and several important improvements already completed. Whether you're looking to add a straightforward rental to your… Read More portfolio or live in one unit while generating income from the other, this property offers plenty of flexibility. The 1st-floor unit is currently occupied at $850/month, plus an additional $50/month toward water, sewer and trash, providing $900/month in current gross income. The 2nd-floor unit is vacant, giving a new owner the opportunity to move in, place a new tenant, or establish their own lease terms. The previous tenant also paid $850/month plus the $50 monthly utility contribution. Seller will provide the occupancy permit for the vacant unit.
Recent improvements include a new sewer lateral inside the building, updated kitchens, new LVP flooring in the kitchens and bathrooms, and two new electrical panels. These updates take some of the big-ticket concerns off the table and make this duplex an attractive option for an investor looking for a property that is ready to put to work. For the investor, the existing tenant provides day-one rental income, while the vacant unit creates an opportunity to establish a new lease and increase overall gross income. For the owner occupant, live in one unit and let the other unit help offset your housing expenses—a classic South City house-hacking opportunity.The building offers the charm and character buyers expect from a South City duplex while incorporating practical updates that today's tenants and owners appreciate. With one unit already producing income and the other ready for its next occupant, 4028 S Spring is a duplex worth adding to your tour list! Read Less
Listing courtesy of Mogul Realty, 314-865-1170.
Listing Snapshot
Days Online
21
Last Updated
Property Type
2-4 Units
Square Ft.
1,824
Lot Size
0.07 Acres
Year Built
1927
MLS Number
26062900
Additional Details
Foundation
Stone
Appliances & Equipment
Electric Oven, Refrigerator
Basement
Unfinished
Building
Built in 1927, Living area: 1824, Levels: Two, Construction Materials: Brick
Cooling
Ceiling Fan(s), Central Air
Disclosures
Lead Paint
Exterior Features
Patio/Porch Features: Covered, Deck
Fence
Chain Link
Floors
Hardwood, Luxury Vinyl
Garage
2 spaces
Heating
Forced Air, Natural Gas
Home Owner's Association
Association Fee: $0
Income
Gross Income: $9,900, Net Operating Income: $4,854
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