438-440 Thomas Ave.

There's No Place Like Home! Rare opportunity to own a turnkey 3-unit property a half block from the center of vibrant downtown Forest Park with all its shops and restaurants! Live or rent out the coach house which is extensively renovated and redesigned by the current owner-occupant. The sunny open-concept main floor with its restored maple flooring, has the living room, dining area, foyer, a main floor bedroom (or office) with custom closets/storage drawers, large kitchen, and new full bath. Upstairs you'll find 2 bedrooms (one currently used as a den), large custom walk-in closet, loft area which is used as an office, and a brand new big, beautiful bath with a large walk-in shower, double vanity, skylight, and heated floors. There is a large, finished room with a huge closet in the basement that can be an additional bedroom, office, exercise room, or craft room. The 2 flat apartments each have a large living area, eat in kitchens, 1 bedroom, 1 bath and a bonus room. The first floor was totally rehabbed in 2015 with new kitchen, bath, floors, and central air! The second floor of the two flat is in good condition but not updated. Long-time tenants occupy both floors. The coach house has a lovely front porch to relax or entertain! There are 3 separate beautifully landscaped areas, that allow the residents to all enjoy the fabulous gardens. Additional improvements since 2015: new siding, roofs, many windows and doors, garage doors, awnings, sidewalks, vinyl fence, patio, pergola, landscaping (Forest Park Garden Walk Winners 2019!) and new copper water supply. The coach house has a new furnace (2017) and the 2 Flat has 2 new water heaters (2021). Many neighbors rent extra alley parking for the tenants and/or the city parking lot is just 5 houses away. This is a desirable neighborhood, and this is an unusual opportunity to own anappreciating income property/home that helps pay the expenses. ROI 8% -10% depending on the down payment.