Multifamily Property for Sale in St. Louis, MO

  • Price: $4.7M
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: St. Louis, MO 63110

Description

36 Unit Value-Add Multifamily Opportunity near Forest Park /Dogtown (St. Louis MSA) CBRE is pleased to offer for sale Oakview Apartments, a 36-unit value-add multifamily community situated in a thriving area of St. Louis’s Central Corridor. The property consists of three all-brick buildings featuring 36 one-bedroom, one-bathroom units with a strong occupancy rate of 100%. Unit features include in-unit washers and dryers, hardwood floors, updated kitchens with quartz countertops and stainless-steel appliances, as well as rear balconies. Residents can enjoy off-street parking in the parking lot behind in the rear of the buildings. Oakview Apartments is ideally located just minutes from Forest Park, home to expansive green spaces and the St. Louis Zoo. Its proximity to Washington University (WashU) ensures a steady influx of students, faculty, and staff, driving demand for rental properties. The vibrant Dogtown neighborhood, known for its lively atmosphere and local eateries, adds to the area’s appeal. Downtown Clayton, with its bustling business district and upscale shopping and dining, is also just a short drive away. Additionally, the property is conveniently located near major hospitals and employers in the Central West End, such as BJC Healthcare, attracting healthcare professionals and other workers. Current rents are below market rates, providing immediate upside potential for future ownership through rental increases. Furthermore, 5 units have not been updated with new kitchens, presenting additional opportunities for value enhancement. The property is being offered free-and-clear, allowing buyers the flexibility to secure new financing.

Market Context

This multifamily in St. Louis, MO is listed for sale at $4,650,000. It has been on the market for 163 days. Compare it against other multifamily listings for sale in St. Louis, MO — <a href="/search/sale/multifamily/missouri/st-louis">view the full market</a>.

As of Q3 2017, the St. Louis multifamily market showed a 4.1% vacancy rate, and rents up 2.3% year over year. Source: Cushman & Wakefield Q3 2017 market report.

Rising rents point to a competitive market where well-priced, well-located assets trade quickly.

Multifamily market FAQ

Is the St. Louis multifamily market tightening or softening?
Vacancy is around 4.1%, with asking rents rising year over year (Q3 2017).

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