UPDATED:
Key Details
Property Type Multi-Family
Sub Type 2-4 Units
Listing Status Coming Soon
Purchase Type For Sale
Square Footage 4,590 sqft
Price per Sqft $195
Subdivision Allens Add
MLS Listing ID 26069855
Style Historic,Victorian
Year Built 1890
Annual Tax Amount $11,755
Lot Size 4,826 Sqft
Acres 0.1108
Property Sub-Type 2-4 Units
Property Description
THE UNITS: Unit 1E (1st floor) is a 3 bed / 2 bath of about 1,519 sq ft with the original storefront windows, quartz counters, a double-vanity bath and hardwood floors, leased at $2,380/mo through 5/31/27. Unit 2E (2nd floor east) is a 1 bed / 1 bath of about 759 sq ft with an island kitchen, updated bath and in-unit laundry, leased at $1,365/mo through 1/31/27. Unit 2W (2nd floor west) is a 1 bed / 1 bath of about 759 sq ft with an open island kitchen, renovated bath and in-unit laundry, leased at $1,365/mo through 7/30/27. Unit 3E (3rd floor) is a 3 bed / 2 bath of about 1,519 sq ft with a stainless kitchen and island, exposed-beam ceilings, a glass-enclosed tile shower and in-unit laundry, leased at $2,430/mo through 6/30/27.
THE NUMBERS: Gross rent is $90,480 a year. Operating expenses are $21,875 (2025 taxes, a current insurance quote, and the last 12 months of water, sewer, trash and repairs), leaving $64,081 in net operating income after a 5% vacancy allowance. That is $224,750 per unit. Tenants pay their own electric and gas. The property appraised at $900,000 in 2024.
WHY IT STANDS OUT: Central air, updated PVC plumbing and in-unit laundry in every unit keep upkeep low; repairs totaled $2,255 over the last 12 months. The two closest comparable sales, four-unit buildings on Russell Blvd with the same unit mix, brought in about 8% less rent and had no parking (both for $825,000 each).
SHORT-TERM RENTAL OPTION: Soulard draws visitors all year for Mardi Gras, Oktoberfest, the Soulard Farmers Market, Cardinals games and CITY SC. Furnished, this building could run like a small Soulard boutique hotel. At St. Louis market averages (about $119 a night for a 1 bed and $241 a night for a 3 bed at roughly 40%, per AirROI data for Oct 2025 to Sep 2026).
LOCATION: Walk Score 81. Steps from Soulard's bars and restaurants, an 8-minute walk to the Soulard Farmers Market, and a 5-minute drive to Busch Stadium and downtown. SEE OM FOR MAP SHOWING AMAZING LOCATION.
SHOWINGS: Fully occupied. Showings are for pre-approved buyers only, by appointment through the listing agent. Please do not disturb the tenants. The listing agent has an ownership interest in the property.
Location
State MO
County St Louis City
Area 2 - Central East
Interior
Interior Features Beamed Ceilings, Ceiling Fan(s), Double Vanity, High Ceilings, Kitchen Island, Open Floorplan, Separate Shower, Stone Counters
Heating Forced Air
Cooling Central Air
Flooring Ceramic Tile, Hardwood, Luxury Vinyl
Fireplace N
Appliance Stainless Steel Appliance(s), Dishwasher, Dryer, Microwave, Range Hood, Electric Range, Refrigerator, Washer
Laundry In Unit
Exterior
Fence Back Yard, Fenced, Gate, Privacy, Wood
Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
View Y/N No
Building
Lot Description Back Yard, City Lot, Corner Lot, Some Trees
Water Public
Level or Stories Three Or More
Structure Type Brick
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, FHA, VA Loan
Listing Terms 1031 Exchange, Cash, Conventional, FHA, VA Loan
Special Listing Condition Standard
Nearby School & Business
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