7,980 SqFt
7,980 SqFt
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 7,980 sqft
Price per Sqft $147
Subdivision City/St Louis
MLS Listing ID 26005485
Style Historic
Year Built 1889
Annual Tax Amount $4,524
Lot Size 5,423 Sqft
Acres 0.1245
Property Description
The property is 100% occupied and currently produces $10,845 in monthly rent ($130,140 annually), offering an attractive 7.04% in-place cap rate with clear upside to an 8.06% pro-forma cap rate through mark-to-market rent adjustments. Average in-place rents are $1,356 per unit, with several units leasing below market—most notably one 1BR unit at $900 versus a $1,375 market rent.
All units feature in-unit laundry, modern finishes, forced-air HVAC systems, and updated kitchens and baths. The property also benefits from off-street parking (~5 spaces), a highly sought-after amenity in Soulard. Operating expenses are efficiently controlled at approximately 31.5% of gross income, and the property is currently self-
managed, allowing for additional operational flexibility.
Located just steps from Soulard's renowned bars, restaurants, coffee shops, and the historic Soulard Farmers Market, the asset is ideally positioned to attract young professionals and urban renters seeking a walkable, lifestyle-driven neighborhood. This offering represents a rare opportunity to acquire a turnkey, stabilized multifamily asset in one of St. Louis' strongest rental submarkets, with durable cash flow and built-in upside.
Location
State MO
County St Louis City
Area 2 - Central East
Interior
Heating Forced Air
Cooling Central Air
Fireplace N
Exterior
View Y/N No
Building
Water Public
Structure Type Brick
Schools
Elementary Schools Sigel Elem. Comm. Ed. Center
Middle Schools L'Ouverture Middle
High Schools Roosevelt High
School District St. Louis City
Others
Acceptable Financing 1031 Exchange, Cash, Conventional
Listing Terms 1031 Exchange, Cash, Conventional
Special Listing Condition Standard
Nearby Locations
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REALTOR® | Lic# 2020009193
laura@thelauramacdonaldteam.com
1100 Town and Country Crossing Commons Town and Country, MO, 63017