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Gallery 1014 1014-1024 Locust St 82 Unit Apartment Building $14,759,000 ($179,988/Unit) Saint Louis, MO 63101
INVESTMENT HIGHLIGHTS
- Balconies overlooking a water fountain in a beautiful Courtyard. Plus Garage that is attached a fee of $140 per car.
- Assumable Loan at 4.465% Fannie Mae Buyer to pay 1 pt assumption fee and must qualify.
- All New Electric, Plumbing a total gut REHAB in 2018-2019 All NEW!
EXECUTIVE SUMMARY
Prime investment property, with added value on two full floors of event space/ plus the 82 Apartment units totally renovated, gut rehab in 2018-2019 Plus an Assumable loan at fixed rate of 4.465% (Buyer pays 1 point assumption fee) Balance is approximately at $13,800,000
4 floors are one level apartments, the remaining are Townhomes two story apartments with vintage handrails.
All newer Electric, Plumbing, full Kitchens, granite kitchens and granite bathrooms.
The property has attached parking garage rental rate at $140.00 per space.
Call or Text at 314-324-7555 to discuss the properties details. Assumable Loan available
4 floors are one level apartments, the remaining are Townhomes two story apartments with vintage handrails.
All newer Electric, Plumbing, full Kitchens, granite kitchens and granite bathrooms.
The property has attached parking garage rental rate at $140.00 per space.
Call or Text at 314-324-7555 to discuss the properties details. Assumable Loan available
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $14,759,000 | Building Class | B |
| Price Per Unit | $179,988 | Lot Size | 0.29 AC |
| Sale Type | Investment | Building Size | 183,390 SF |
| No. Units | 82 | Average Occupancy | 90% |
| Property Type | Multifamily | No. Stories | 16 |
| Property Subtype | Apartment | Year Built/Renovated | 1923/2019 |
| Apartment Style | Hi-Rise | Opportunity Zone |
Yes
|
| Zoning | I | ||
| Price | $14,759,000 |
| Price Per Unit | $179,988 |
| Sale Type | Investment |
| No. Units | 82 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Hi-Rise |
| Building Class | B |
| Lot Size | 0.29 AC |
| Building Size | 183,390 SF |
| Average Occupancy | 90% |
| No. Stories | 16 |
| Year Built/Renovated | 1923/2019 |
| Opportunity Zone |
Yes |
| Zoning | I |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Washer/Dryer
- Granite Countertops
- Hardwood Floors
- Stainless Steel Appliances
- Tub/Shower
- Wheelchair Accessible (Rooms)
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Courtyard
- Fitness Center
- Picnic Area
- Pool
- Security System
- Grill
- Pet Play Area
- Roof Terrace
- Elevator
- Maintenance on site
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 3 | - | 628 |
| Studios | 1 | - | 765 |
| 1+1 | 17 | - | 773 |
| 1+1.5 | 32 | - | 989 |
| 2+1 | 1 | - | 1,253 |
| 2+1.5 | 5 | - | 1,144 |
| 2+2 | 17 | - | 1,311 |
| 2+2.5 | 1 | - | 1,316 |
| 3+2 | 5 | - | 1,651 |
1 1
Walk Score®
Walker's Paradise (95)
PROPERTY TAXES
| Parcel Number | 0280-00-0015-0 | Total Assessment | $1,307,210 |
| Land Assessment | $64,510 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $1,242,700 | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
0280-00-0015-0
Land Assessment
$64,510
Improvements Assessment
$1,242,700
Total Assessment
$1,307,210
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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Gallery 1014 | 1014-1024 Locust St
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