5437 Page Blvd StSt. Louis, MO 63112

Property Details for 5437 Page Blvd St

Year built

1908

Property type

Apartment buildings

Description

This exceptional investment opportunity presents a four-building, 12-unit apartment complex located at 5437 Page Blvd, St. Louis, MO 63112. Each of the three-story brick buildings houses three spacious 1,000+ sq ft, three-bedroom apartments, totaling 12 units. A recent complete renovation (2020) has modernized these units, featuring high ceilings (8ft+), laminate flooring, updated kitchens with subway tile, new appliances (electric range, hood, refrigerator), insulated windows with mini blinds, and updated plumbing and HVAC systems. The apartments are all-electric with 200-amp service. Steel stairs provide access to rear parking. Currently boasting a 95% occupancy rate and a Net Operating Income (NOI) of $116,520, this stabilized Class B property offers a strong 8.32% cap rate. Monthly rents range from $850 to $1200, with significant upside potential given comparable rents in the area average $2,252 per month. The property sits on a 20,286 sq ft lot and is zoned B-Two Family Residential. This property is conveniently located near public transportation (Metro Transit Bus Rt #94), and surrounded by family-friendly amenities including Better Family Life, Bayer YMCA, and other community support organizations. The asking price is $1,400,000 ($116,667 per unit). A portfolio purchase option including a second property is also available.

Location Insight

City

St. Louis

County

State

Missouri

Latitude

38.6629

Longitude

-90.2757

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