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Lynne Hart

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

$5,520,000

Est. payment - /mo

29,813 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 29,813 sqft

Price per Sqft $185

Subdivision Bell Place Add

MLS Listing ID 26065788

Style High-Rise-4+ Stories

Year Built 1950

Annual Tax Amount $17,788

Lot Size 0.434 Acres

Acres 0.4337

Property Sub-Type 5 Family or More

Property Description

The Tanjiers is a seven-story, 48-unit elevator building on Delmar Boulevard in DeBaliviere Place, offered at $115,000 per unit. Location is the headline: the WashU Delmar DivINe shuttle stops directly across Delmar, WashU's Danforth Campus and the WashU Medical Campus/Barnes-Jewish Hospital are each about 1.2 miles away, and Forest Park, the Forest Park-DeBaliviere MetroLink station and the Delmar Loop are all minutes from the front door. Units were renovated in 2019-2020 with LVP flooring, white shaker kitchens with subway-tile backsplashes and stainless appliances, tiled baths, central heating and cooling, and washer/dryer hookups in every unit. Common areas received capital improvements following the May 2025 storm, and a landscaped terrace frames the entrance. The mix of 20 studios, 21 one-bedrooms and 7 two-bedrooms is built for the steady renter demand around WashU and SLU. Per the October 7, 2026 rent roll, 45 of 48 units are leased or pending and every one sits below ownership's target rent, an $88,440 annual base-rent gap. With 41 of 45 leases ending by August 2027, including 16 in July, a new owner has a clear window to move rents toward target ahead of the 2027-28 school year. Annualized scheduled income against trailing-12 expenses indicates a 7.88% cap rate, with a 9.64% pro forma at target rents. Real estate tax abatement is reported through 2030. Buyer to verify all information.

Location

State MO

County St Louis City

Area 4 - Central West

Interior

Interior Features Elevator, Open Floorplan

Heating Forced Air

Cooling Central Air

Flooring Carpet, Ceramic Tile, Luxury Vinyl

Fireplace N

Appliance Stainless Steel Appliance(s), Microwave, Electric Range, Refrigerator

Laundry In Unit, Washer Hookup

Exterior

View Y/N No

Roof Type Flat,Membrane

Building

Water Public

Level or Stories Three Or More

Structure Type Brick

Schools

Elementary Schools Hamilton Elem. Community Ed.

Middle Schools Yeatman-Liddell Middle School

High Schools Sumner 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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Listed by Anthony Klier • The Agency

Nearby School & Business

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Lynne Hart

+1(314) 324-6907

Agent License ID: 2015021561

5522 Delmar BLVD St Louis, MO 63112

Lynne Hart

Key Details

Location

Interior

Exterior

Building

Schools

Others

Nearby School & Business

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