See all 14 photos
14 photos
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$3,950,000
Est. payment /mo
40,880 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type 5 Family or More
Listing Status Active
Purchase Type For Sale
Square Footage 40,880 sqft
Price per Sqft $96
Subdivision Mcree Place 5114-A
MLS Listing ID 26071566
Style Historic
Year Built 1896
Annual Tax Amount $27,065
Lot Size 10,010 Sqft
Acres 0.2298
Property Sub-Type 5 Family or More
Property Description
Chouteau Lofts is a 29-unit, 40,880 SF multifamily building at 4244
Chouteau Avenue in St. Louis's Forest Park Southeast neighborhood,
currently 95% occupied. The unit mix includes four studios, thirteen
one-bedroom/one-bath units, two two-bedroom/one-bath units, one
two-bedroom/one-and-a-half-bath unit, and nine two-bedroom/two-
bath units. Originally built in 1896, the building underwent a complete
redevelopment between 2007 and 2009 that modernized all building
systems, and every unit has since been updated.
The location puts residents within one mile of BJC HealthCare and
Barnes-Jewish Hospital, the region's largest employer with over 30,000
employees, and the Washington University Medical Campus, supporting
a deep and durable renter pool. Nearby demand drivers include the
Cortex Innovation Community, a 200-acre technology and bioscience
district representing approximately $1.33 billion in development, along
with Forest Park, Saint Louis University, and direct MetroLink access via
the Cortex Station.
In-place rents average $1,234 per unit per month against average market
rents of $1,443, a $222 per unit monthly gap that an incoming owner can
capture through disciplined lease execution as units turn.
Chouteau Avenue in St. Louis's Forest Park Southeast neighborhood,
currently 95% occupied. The unit mix includes four studios, thirteen
one-bedroom/one-bath units, two two-bedroom/one-bath units, one
two-bedroom/one-and-a-half-bath unit, and nine two-bedroom/two-
bath units. Originally built in 1896, the building underwent a complete
redevelopment between 2007 and 2009 that modernized all building
systems, and every unit has since been updated.
The location puts residents within one mile of BJC HealthCare and
Barnes-Jewish Hospital, the region's largest employer with over 30,000
employees, and the Washington University Medical Campus, supporting
a deep and durable renter pool. Nearby demand drivers include the
Cortex Innovation Community, a 200-acre technology and bioscience
district representing approximately $1.33 billion in development, along
with Forest Park, Saint Louis University, and direct MetroLink access via
the Cortex Station.
In-place rents average $1,234 per unit per month against average market
rents of $1,443, a $222 per unit monthly gap that an incoming owner can
capture through disciplined lease execution as units turn.
Location
State MO
County St Louis City
Area 3 - South City
Interior
Cooling Central Air
Fireplace N
Exterior
Fence Fenced
View Y/N No
Private Pool false
Building
Level or Stories Three Or More
Structure Type Brick
Schools
Elementary Schools Adams Elem.
Middle Schools Long Middle Community Ed. Center
High Schools Vashon High
School District St. Louis City
Others
Acceptable Financing Cash
Listing Terms Cash
Special Listing Condition Standard
Read Less Info
Listed by Timothy McCarthy • Salient Realty Group, LLC
Nearby School & Business
Get More Information