4260 Castleman Ave St St. Louis, MO 63110

This exceptional four-unit apartment building presents a compelling investment opportunity in St. Louis' desirable Shaw neighborhood. Situated less than 300 feet from the Missouri Botanical Garden and a short walk to Tower Grove Park, this property benefits from its prime location within a quiet, sought-after community. The building comprises two spacious two-bedroom, one-bathroom units and two three-bedroom, one-bathroom units, each offering approximately 1,066 square feet of living space. Upstairs units feature in-unit washer/dryer hookups and keyless entry. The third bedrooms in the upstairs units are bonus rooms with IKEA closets, ideal for use as home offices. The property boasts a large backyard, and one unit currently operates as an Airbnb, generating an average monthly income of $2,083. Recent significant improvements include new furnaces, condensers, and three water heaters (2022), replacement of thirty feet of sewer lateral (2022), a phased roof replacement (TPO, 2023 & 2024), and a near $10,000 bathroom renovation in 2023. The building sits on a 0.169-acre lot and totals 4,564 square feet (excluding the basement). The asking price is $599,000, representing a price per unit of $149,750, a cap rate of 4.33%, and a pro-forma cap rate of 9.90%. The current NOI is $25,951, with a pro-forma NOI of $59,311. Built in 1895, this two-story building offers a blend of historic charm and modern updates, making it an attractive investment for discerning buyers. The property's address is 4260 Castleman Ave, St. Louis, MO 63110.