UPDATED:
Key Details
Property Type Multi-Family
Sub Type 5 Family or More
Listing Status Active
Purchase Type For Sale
Square Footage 11,676 sqft
Price per Sqft $149
Subdivision Tyler Place Add
MLS Listing ID 26030407
Style Traditional
Year Built 1908
Annual Tax Amount $9,827
Lot Size 6,124 Sqft
Acres 0.1406
Property Sub-Type 5 Family or More
Property Description
All twelve units have been renovated, including complete bathroom updates, updated plumbing, in-unit laundry, replacement of plaster walls with drywall, conversion to all-electric systems. Eight of the units feature the most recent high-end finishes, which include luxury vinyl flooring, upgraded kitchen cabinets with granite countertops. The building also retains attractive historic features, including original marble walls, a skylight, and original tile flooring in the entry areas. Tenants also benefit from rear porches and a courtyard area.
Extensive capital improvements include a TPO roof, new windows, complete tuckpointing, new PVC stacks, water lines. The building was converted to an all-electric system, water heaters were replaced, making this a turnkey investment with minimal deferred maintenance. HVAC line sets and thermostat wiring have been run throughout the property, making future system replacements easier and more efficient. Current rents demonstrate strong historical occupancy and long-term tenancy, while still providing clear upside. Based on Rentometer data, average market rents for one-bedroom units are $1,304, based on 21 one-bedroom apartments within 0.75 miles over the last year. Average market rents for two-bedroom units are $1,406, based on 9 two-bedroom apartments within 0.75 miles over the last year.
This property offers the opportunity to raise rents and add value with minimal additional cost. The basements have a large footprint, tall ceilings, and easy access for potential egress windows and entry doors, creating the possibility of adding additional apartments. There are only a handful of 10+ unit apartment buildings in Shaw, and they rarely reach the open market. Seller will review offers on Monday, June 1st at 5:00 PM. Please include a response deadline of Tuesday, June 2nd at 5:00 PM.
Location
State MO
County St Louis City
Area 3 - South City
Rooms
Basement Full, Interior Entry
Interior
Heating Electric, Forced Air
Cooling Central Air, Electric
Flooring Carpet, Concrete, Luxury Vinyl, Wood
Fireplace N
Laundry In Unit
Exterior
Exterior Feature Balcony, Courtyard
Parking Features false
Utilities Available Electricity Connected, Sewer Connected, Water Connected
View Y/N No
Private Pool false
Building
Level or Stories Three Or More
Structure Type Brick
Schools
Elementary Schools Shenandoah Elem.
Middle Schools Fanning Middle Community Ed.
High Schools Roosevelt High
School District St. Louis City
Others
Ownership Private
Acceptable Financing 1031 Exchange, Cash, Conventional
Listing Terms 1031 Exchange, Cash, Conventional
Special Listing Condition Standard
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