Introducing an exceptional value-add multifamily investment in the vibrant Grand Add / Vandeventer neighborhood of STL. This brick low-rise apartment building offers stability, income, and upside potential, just one mile from St. Louis University, Grand Center, and the Fox Theater. Ideal for investors looking for cash flow and repositioning opportunities in a city market with strong rental demand.
Property Highlights
• Units: 20 fully furnished studio and one-bedroom apartments
• Building Size: ~ 15,687 sq. ft.
• Lot Size: ~ 0.15 acres (approx. 6,438 sq. ft)
• Year Built: 1928
Unit & Income Snapshot
• Rental Configuration: Furnished studios and one-bedroom units. Utilities are included in many leases.
• Current Rents: Approx. $190/mo for studio units; $225/mo for one-bedroom units
• Operating Basis: Monthly/weekly rental model. Some potential for conversion or stabilization at higher market rates.
Location & Market Advantages
• Proximity: ~1 mile to St. Louis University, Fox Theater, and Grand Center arts & entertainment district.
• Walkability & Transit Access: Urban setting with nearby amenities, restaurants, transit routes. Strong appeal to students, young professionals, and short-term renters.
• Neighborhood: Grand Add / Vandeventer — an area seeing interest for redevelopment, rental demand, and investment.
Investment Opportunity
• Value-Add Potential: Lower rents relative to market; using modest upgrades (unit finishes, utilities, amenity enhancements) could lift cash flow significantly.
• Upside in Rental Model: Fully-furnished, shorter-term leases suggest potential for yield arbitrage.
• Expansion Potential: Adjacent lot to the west available for acquisition to add parking or ancillary income.
Why This One’s Different”
• Turnkey Furnishing: Units come furnished, reducing lease-up cost and tenant acquisition friction.
• Historic Character with Solid Bones: 1928 construction, brick building, classic architecture. Good for investors who appreciate charm or who want to market distinctive units.
• Aggressive Entry Price: Under $25/SF in a submarket with comparable assets often trading higher.
