Language and Region
Currency

Email*

Please enter a valid email address.

To send this property to multiple individuals, insert a semi-colon between each recipient's email address.

Message

931 characters remaining

Hmm, there seems to have been an error sending your message. Please try again.

Your email has been sent.

Spring Street Loft Apartments 24 S Spring Ave 48 Unit Apartment Building For Sale Saint Louis, MO 63108

.mosaic-column{display:inline-block!important;height:100%!important;width:auto!important}.mosaic-tile i{display:none!important}.mosaic-tile img{height:100%!important;width:auto!important}

INVESTMENT HIGHLIGHTS

Prime Location Adjacent to Saint Louis University Campus
Positioned in A High-Growth Redevelopment Zone
Durable, Updated Systems, leading to stable, low-capex investment

Below Market Rents With Upside Potential
Consistent, Recision-Resistant Occupancy
Across from the City Foundry and other amazing amenities

EXECUTIVE SUMMARY

Salient Realty Group is pleased to present this exclusive property to purchase, The Spring Street Lofts. A 94 bed Student Housing Complex (48 units); this is a rare opportunity to own a stabilized, high-demand multifamily asset perfectly situated within walking distance of Saint Louis University, one of the city’s largest and most consistent housing drivers. The asset is strategically located in the heart of Midtown. This boutique loft building captures the ever-growing demand for quality, off-campus student housing—an increasingly limited commodity as SLU’s enrollment continues to rise and on- campus housing options remain constrained. The property’s combination of exposed brick, high ceilings, and modern finishes appeals directly to today’s student and young professional renter profile, ensuring strong occupancy and rent premiums. Investors benefit from steady, recession-resistant demand generated by SLU’s 12,000+ students and nearby medical and graduate programs, as well as close proximity to Central West End’s dynamic restaurant, retail, and nightlife amenities that enhance tenant retention. With consistent leasing velocity, minimal vacancy, and proven rent growth potential, Spring Street Lofts stands out as a turnkey investment in one of St. Louis’s most reliable micro-markets for long-term appreciation and cash flow stability.

SRG | Spring Street Lofts OM

FINANCIAL SUMMARY (ACTUAL - 2024)	ANNUAL	ANNUAL PER SF
Gross Rental Income	$1,273,291	$16.79
Other Income	-	-
Vacancy Loss	-	-
Effective Gross Income	$1,273,291	$16.79
Taxes	-	-
Operating Expenses	-	-
Total Expenses	$354,684	$4.68
Net Operating Income	$918,607	$12.11

FINANCIAL SUMMARY (ACTUAL - 2024)

Gross Rental Income
Annual	$1,273,291
Annual Per SF	$16.79

Other Income
Annual	-
Annual Per SF	-

Vacancy Loss
Annual	-
Annual Per SF	-

Effective Gross Income
Annual	$1,273,291
Annual Per SF	$16.79

Taxes
Annual	-
Annual Per SF	-

Operating Expenses
Annual	-
Annual Per SF	-

Total Expenses
Annual	$354,684
Annual Per SF	$4.68

Net Operating Income
Annual	$918,607
Annual Per SF	$12.11

PROPERTY FACTS

Sale Type	Investment	Building Size	75,837 SF
No. Units	48	Average Occupancy	100%
Property Type	Multifamily	No. Stories	3
Property Subtype	Apartment Multifamily Dormitory	Year Built/Renovated	1927/2009
Apartment Style	Low-Rise	Parking Ratio	0.5/1,000 SF
Building Class	B	Cross Streets	Spring Ave
Lot Size	0.63 AC	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

Sale Type	Investment
No. Units	48
Property Type	Multifamily
Property Subtype	Apartment Multifamily Dormitory
Apartment Style	Low-Rise
Building Class	B
Lot Size	0.63 AC
Building Size	75,837 SF
Average Occupancy	100%
No. Stories	3
Year Built/Renovated	1927/2009
Parking Ratio	0.5/1,000 SF
Cross Streets	Spring Ave
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.