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Lynne Hart

lynne@saintlouisrealestate.co +1(314) 324-6907

$1,882,400

Est. payment - /mo

7,680 SqFt

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UPDATED:

Key Details

Property Type Multi-Family

Sub Type 5 Family or More

Listing Status Active

Purchase Type For Sale

Square Footage 7,680 sqft

Price per Sqft $245

Subdivision Allens/Russell

MLS Listing ID 26046044

Style Historic

Year Built 1901

Annual Tax Amount $6,092

Lot Size 4,007 Sqft

Acres 0.092

Property Sub-Type 5 Family or More

Property Description

The Allen Avenue Furnished Lofts - ten fully furnished, individually renovated residences in one landmark 1901 red-brick building on a single parcel carrying three classic Soulard addresses (1019, 1021, and 1023 Allen). 100% occupied. Priced at a 7.25% cap rate on ACTUAL trailing performance: $193,732 total revenue against $57,254 of actual operating expenses for $136,478 NOI. Every unit has its own floor plan, in-unit laundry, full kitchen, smart TV, queen beds, electronic locks, and owner-paid high-speed internet. Unit mix: three 1BR/1BA, three 1BR/1.5BA, two 2BR/2.5BA townhome-style lofts, and two studios. Three ways to operate - long-term, mid-term furnished (30+ day traveling-nurse and corporate stays), or short-term, or a hybrid of all three. One tenant has operated their unit as a successful Airbnb since February 2023. Soulard has no hotel inventory, and SSM Health SLU Hospital, Cardinal Glennon Children's, and the Barnes-Jewish / Washington University medical campus are minutes away. Turnkey, management-light cash flow in St. Louis's oldest and most walkable neighborhood, where product like this rarely trades. Offering memorandum, current rent roll, and seller operating statements available to qualified buyers. Buyer to verify all figures, square footage, and short-term-rental permitting.

Location

State MO

County St Louis City

Area 2 - Central East

Interior

Heating Natural Gas, Forced Air

Cooling Electric, Gas, Central Air

Fireplace N

Appliance Gas Water Heater

Laundry Common Area, In Unit

Exterior

Parking Features false

Amenities Available Recreation Facilities

View Y/N No

Building

Water Public

Structure Type Brick,Stone Veneer,Brick Veneer

Schools

Elementary Schools Sigel Elem. Comm. Ed. Center

Middle Schools Fanning Middle Community Ed.

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

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Listed by Anthony Klier • The Agency

Nearby School & Business

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Lynne Hart

+1(314) 324-6907

Agent | License ID: 2015021561

Agent License ID: 2015021561

1019 Allen AVE St Louis, MO 63104

Lynne Hart

Key Details

Location

Interior

Exterior

Building

Schools

Others

Nearby School & Business

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